Oanda Acquires Polish Broker

Oanda has entered into an agreement to buy Polish retail FX broker Dom Makerski TMS. Financial terms of the deal were not released and it remains subject to regulatory approval. Oanda says the acquisition is the first “in a number” of strategic acquisitions it is looking to complete over the next two years as it continues […]
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Simple, but Sophisticated: XTX Launches FX Execution Algo

It is an old saw in the FX industry that firms respond to customer demand and with algo usage on the increase for firms executing FX trades, inevitably eyes have turned to XTX Markets with the question, ‘will it also enter the market for algos?’ As one of the biggest FX market makers such questions […]
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ECB Chief Economist Hints at Further Eurozone Stimulus

The European Central Bank (ECB) may be forced to enact further extraordinary measures to lift inflation toward its target following the shock of the coronavirus, according to the ECB’s chief economist, Philip Lane, Thursday. “For the ECB to deliver on its mandate [the Bank may resort] to additional monetary stimulus,” Lane told the Kansas City […]
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BNP Paribas Names New Head of Structuring Americas

BNP Paribas today announces the appointment of Sarah Wang as head of structuring Americas, which involves oversight of structuring teams across business lines. Previously, Wang worked at Barclays for 16 years, most recently as head of securitised product solutions structuring in the US. Prior to that, she was head of structuring in APAC and held various structuring […]
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IASB Issues Amendments to IFRS Standards

The International Accounting Standards Board (IASB) has finalised its response to the ongoing reform of interbank offered rates (IBOR) and other interest rate benchmarks by issuing a package of amendments to IFRS Standards. The amendments are aimed at helping companies to provide investors with useful information about the effects of the reform on those companies’ […]
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COVID Exposes Compliance Issues, Drive Spending on Surveillance Tech

Spending on trade surveillance technology has been increasing at an impressive rate and could exceed previous growth expectations as firms address weaknesses in compliance infrastructure exposed during the COVID-19 pandemic, according to a survey by Greenwich Associates. Over the last decade, the trade surveillance technology market grew at a rate of 13% to 14% per […]
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SGX Partners with Cassini Ahead of Uncleared Margin Rules

Singapore Exchange (SGX) and Cassini Systems, which provides pre- and post-trade margin and collateral analytics for derivatives markets, have partnered to provide a free service for SGX market participants, to help them prepare to meet the Uncleared Margin Rules (UMR) requirements. Under the agreement, SGX will use Cassini to provide market users with complementary analyses to determine […]
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Jefferies Pares Down FX

Jefferies cut its global electronic FX business, including marketing making and algos, but is keeping its FX prime broking and FX voice businesses, according to sources. These sources say New York-based Michael Porzio, SVP and eFX product manager, and SVP Shawn Egger, as well as London-based Tom Robinson, MD and head of European FX sales, […]
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FIA Voices Support for CFTC’s Electronic Trading Proposal

FIA and FIA PTG today submitted comments supporting the Commodity Futures Trading Commission’s (CFTC) Electronic Trading Risk Principles rule proposal. FIA says the CFTC proposal “reflects a carefully reasoned principles-based approach that builds on the industry’s efforts over the years to mitigate the risks of electronic trading”. In its statement, FIA strongly encourages the agency to prioritise […]
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CFTC Fines Oanda

The US Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against retail FX broker Oanda Corporation for violating certain capital, reporting, and supervision rules and invoked a fine of $500,000. The order finds that, in or around October 2018 and during the period April 2019 to August 2019, Oanda failed at […]
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