Record Fine for Tower Research as CFTC Hits Spoofers Again

The US Commodity Futures Trading Commission (CFTC) has again targeted spoofers in futures markets with two actions against firms, including a record fine for high frequency trading firm Tower Research. Tower was hit with a $67.4 million fine for failing to halt a spoofing scheme that lasted over two years and led to criminal charges […]
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Estrada Joins CCP Investment Board

Luis Estrada has left UBS to join CCP Investment Board as a portfolio manager. Estrada had spent over two years at UBS in New York, where he was an executive director and head of macro trading for Latin America.  In this role Estrada relaunched macro trading in FX and rates at the bank and led […]
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GFI Re-Opens Tokyo Office with G10 FX Swaps Desk

BGC Group’s GFI has re-established a presence in Japan with the opening of a new office by GFI Group (Japan). The business is being spearheaded by the establishment of a G10 forward FX desk focusing on Yen as well EUR, GBP, CHF, AUD, NZD, CAD and other forwards to service its Japanese and international clients. […]
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And Another Thing…

Perhaps the most surprising aspect of the discussions I have been having post the news that Citi is closely studying the number of channels it supports in FX markets is not that several other major LPs have confided in me that they expect, or are currently conducting, a similar review but the number of LPs […]
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Katz New Head of Banking at Mizuho Americas

Mizuho Americas has announced the appointment of Michal Katz as head of banking Americas. She reports to Jerry Rizzieri, president and CEO of Mizuho Securities USA. In her new role Katz is responsible for all banking activity throughout the US, Canada, and Latin America, including investment grade and non-investment grade loans, equity and debt capital markets, […]
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Former EBS Head Jeffery Takes the Chair at Wematch

Wematch, the multi-asset-class, Web-based matching and negotiation platform, has appointed Jack Jeffery as chairman of its Board. With more than 35 years’ experience in financial markets, Jeffery was previously CEO at electronic fixed income platform MTS, prior to which he served at CEO of FX ECN EBS. He also served 11 years at Citigroup, where he […]
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Primary FX Venues See Volume Drop in October

The primary FX trading venues all saw a decline in activity in October. CME Group says it handled 804,000 FX contracts on its futures and options suite for a notional value of $74.6 billion – this is an 11% decline from October 2018 and a 24.1% decline from September’s roll month. CME’s EBS also saw […]
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EBS Claims African NDF First

CME Group’s EBS says it has conducted the first ever African NDF trade on a central limit order book (CLOB) trading platform with a one-month dollar-Kenyan shilling NDF executed on EBS Market between Bank of America and Citi. The firm says it has also added one-month pairs for the dollar against the Nigerian naira, the […]
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CLS Appoints Hrvatin as CRO

CLS has named Deborah Hrvatin as chief risk officer – she will also join the CLS executive management committee. Hrvatin joins from Citi where she was global head of operational risk management for the bank’s Institutional Clients Group and CLS says as a specialist in risk management and strengthening controls, she is responsible for its […]
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CFH Clearing Adds Analytics

CFH Clearing says it has enhanced its data analytics offering to provide clients with better data on liquidity management. The tools, which were developed in-house, pave the way for what CFH says will be a real-time interactive liquidity dashboard planned for launch in 2020. “The data we collect from each broker and LP enables us […]
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