Another Peak for FXSpotStream, Integral FX Volume Also Strong

FXSpotStream has reported average daily volume across FX products of $42.25 billion in June, a new peak for the service and beating the previous high, set in January of this year, by 10%. The platform says it hit a new daily high on June 20 at $52.5 billion and handled the largest gross monthly flow […]
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BIS Establishes Central Bank Innovation Hub

The Bank for International Settlements (BIS) has announced plans to establish an innovation hub to “foster international collaboration on innovative financial technology within the central banking community complementing the already well established cooperation within the existing committees”. The role of the BIS Innovation Hub will be, the bank says, to identify and develop in-depth insights […]
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Genesis Announces Senior Hires

Genesis, a digital currency trading and lending firm, has announced three senior hires. Specifically, the firm has named Arianna Pretto-Sakmann as general counsel, Pat DeFrancesco as CTO and Leon Marshall as head of European business development. Profit & Loss previously reported that the firm has also hired Dan Torrey as head of institutional sales. “It […]
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Cryptoasset Manager Granted FCA License

Prime Factor Capital (PFC), a London-based cryptoasset management firm, has been granted a license by the UK’s Financial Conduct Authority (FCA) to operate as a full-scope Alternative Investment Fund Manager (AIFM). Under the EU’s AIFM Directive (AIFMD), full-scope AIFMs may manage in excess of €100 million in assets, allowing PFC to begin accepting institutional-size tickets. […]
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CboeFX Volumes Flat, Euronext FX Rebound in June

The first two platforms to report June average daily volume indicates that activity rose slightly in June from May, reinforcing a small rebound from April’s lows. CboeFX ADV was unchanged month-on-month at $33.1 billion per day, but 12.4% down year-on-year, while Euronext FX reports ADV of $19.3 billion, up 11.6% from May but down 12% […]
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Cryptocurrencies: Finding the Right Audience

Since the price of crypto assets spiked dramatically in 2017, many have been predicting that a wave of institutional money is going to come into the cryptocurrency market, bringing with it a flood of change.  However, speakers at Profit & Loss’ Forex Network London event argued that the “institutionalisation” of the crypto markets will play […]
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360T Launches Direct Trading Via GTX

360TGTX has launched a new product, GTX Link, which leverages the established connectivity of GTX to enable clients to access each other bilaterally. “GTX has traditionally been known as an anonymous ECN where we utilised our proprietary technology to have multiple credit hubs that act as  intermediaries for GTX, so that firms who would otherwise […]
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Chiu Joins Bloomberg

Stephen Chiu has joined Bloomberg as an Asia FX rates strategist. Based in Hong Kong, Chiu joins from China Construction Bank, where he had been a vice president and FX and rates strategist since 2016. Prior to that, Chiu spent over six years at Bank of Tokyo-Mitsubishi UFJ, initially working as a trader before becoming […]
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CFTC Issues No Action Relief Regarding Swap Dealer Rules

The Commodity Futures Trading Commission (CFTC) has granted no-action relief to registered floor traders from compliance with rules relating to the “swap dealer” definition. According to the CFTC’s swap dealer definition, a registered floor trader does not need to consider cleared swaps executed on or subject to the rules of a designated contract market (DCM) […]
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FIA Advocates for Changes to Derivatives Reporting Rules

The Futures Industry Association (FIA) has published a new position paper that recommends a number of changes to how exchange traded derivatives (ETDs) are reported under European regulation. The FIA says in the paper that it fully supports the efforts by regulatory authorities to make the derivatives markets more transparent and safe, adding that the […]
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