ISDA Gets DoJ, FSB, Nod on Fallbacks

The International Swaps and Derivatives Association’s (ISDA) proposal on a Fallback Protocol to ease the transition from Ibors to new Risk Free Rates (RFRs) has overcome a big hurdle with the US Department of Justice stating it has no objections to ISDA’s suggested pathway. In a business review letter the DoJ says it has concluded […]
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Treny Joins Equiti Capital

Equiti Capital has appointed Stephane Treny to the company’s agency FX desk as a senior FX sales trader. He will be tasked with increasing the firm’s coverage of buy side players in Europe. Treny has worked in FX sales roles at Deutsche, UBS, Credit Suisse and, most recently, UniCredit where he was director, FX sales for […]
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Global FX Head Leaves Santander?

Multiple sources tell Profit & Loss that Andrew Brown, global head of FX at Santander, is leaving the firm. Brown joined Santander in May 2018 after a six year spell at Spanish rival BBVA where he oversaw what sources familiar with the matter refer to as an “outperformance” of the FX business and he seems […]
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Rosenstein Joins Capitolis

Evelina Rosenstein has joined Capitolis in London as sales manager, she joins from Broadway Technologies where she was head of sales for the firm in London having joined in May 2018. Prior to Broadway, Rosenstein spent almost three years at FXSpotStream in a senior sales role, having joined the platform from an almost 10 year […]
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Baton Teams-Up with Citi on Cleared Derivatives 

Baton Systems, which provides post-trade solutions for capital markets, has teamed-up with Citi to help build its treasury function for cleared derivatives. Baton’s platform will aggregate data from Citi’s banks and custodians and track collateral collected from its clients all the way through to CCPs. In addition, Baton will enable real-time visibility of excess/deficit calculations, […]
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SmartTrade Makes Senior Hire

SmartTrade Technologies today announces that Ludovic Blanquet has joined as chief product and strategic planning officer, based in London. Blanquet brings 20 years of industry experience to the role. He joins from Finastra, where he was the global head of product strategy across its five lines of business. Prior to this, he built Credit Agricole APAC’s […]
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And Another Thing…

The size of the fines being dished out by the US authorities are not particularly large – especially for those banks that have been targeted – but the number of sanctions is. As the CFTC noted in a release this very week, it closed its fiscal year with a record number of enforcement actions, and […]
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UK Regulator Bans Retail Crypto Derivatives

The UK’s Financial Conduct Authority (FCA) has published final rules banning the sale of derivatives and exchange traded notes (ETNs) that reference certain types of crypto assets to retail consumers, saying it considers the products to be “ill-suited for retail consumers due to the harm they pose”. Citing the “inherent nature of the underlying assets, […]
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CFTC’s Enforcement Director Leaves on a Sanctions’ High

James McDonald, director of the Commodity Futures Trading Commission’s Division of Enforcement (DoE) is stepping down with immediate effect, having been in the position since April 2017. He leaves at the same time as the CFTC unveils a record-breaking year for enforcement actions by the DoE. McDonald joined the CFTC after serving as an assistant […]
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Primary FX Venues Report September ADV

The three primary FX venues all reported an increase in month-on-month activity in September, but unlike the host of venues to report earlier this month, only one of the three managed a year-on-on-year gain. CME Group says it handled just over one million contracts in its FX futures and options suite for a notional value […]
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