Major Dealers Call for More Action on CCP Soundness

In a white paper released jointly, BlackRock, Goldman Sachs, JPMorgan, Allianz, Citi, Societe Generale, State Street, T. Rowe Price, and Vanguard, have presented detailed recommendations from both buy-side and sell-side perspectives to further enhance the safety and soundness of central counterparties (CCPs. The firms say that while CCPs have been increasingly relied upon to protect […]
Read More »

Markets Over-Estimating GBP Brexit Premium, Say Analysts

Markets might currently be overestimating the amount of Brexit premium left in sterling, argue senior analysts at UBS. “There’s not as much Brexit premium in sterling as people think,” says Arend Kapteyn, global head of economics and strategy at UBS. “A lot of the discussion I have with investors is along the lines of: ‘Sterling […]
Read More »

US Regulators Join Global Financial Innovation Network

The Commodity Futures Trading Commission, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and the Securities and Exchange Commission have announced they are joining the Global Financial Innovation Network (GFIN). The agencies say that US financial regulators have taken proactive steps in recent years to enhance regulatory clarity and understanding for all stakeholders and promote early identification of […]
Read More »

Eurex Begins Clearing Cross Currency Swaps

Eurex Clearing has cleared its first cross currency swap transactions, with the trades being submitted by JP Morgan and Morgan Stanley. In a release issued today, Deutsche Börse Group says that cross currency swaps represent an “important component” of its overall FX strategy, which it is executing across Eurex, Eurex Clearing and 360T. Eurex Clearing’s […]
Read More »

Kent Joins Flextrade

Profit & Loss understands that Tracey Kent has joined Flextrade in London as a sales director. She joins from FXSpotStream where she worked for just over a year as executive director, EMEA sales. Prior to FXSS, Kent worked for a short period of time at HC Tech as head of e-FX sales for Europe and […]
Read More »

CFTC Sanctions Unregistered Retail FX Dealer

The Commodity Futures Trading Commission (CFTC) says it has issued an order filing and settling an enforcement action against Utah-based Treasury Vault for acting as an unregistered retail foreign exchange dealer. Starting in September 2017, CFTC says Treasury Vault began offering FX services through its website to US retail customers who were not eligible contract participants […]
Read More »

FXall Adds Liquidity Provider for Frontier Currencies

FXall has added Crown Agents Bank (CAB) as a liquidity provider, enabling its users to trade more frontier currencies. CAB is a UK–regulated provider of wholesale FX and cross-border payments services across developing, emerging and frontier markets. With the addition of CAB, FXall users have an additional liquidity choice for trading deliverable frontier currencies, including […]
Read More »

Greenwich Claims 25% Increase in FX Algo Trading

A new report from Greenwich Associates claims that the adoption of algos by FX market participants has increased by 25% year-on-year. “As FX market participants adopt sophisticated pre- and post-trade analytics enhanced by artificial intelligence and machine learning, the potential benefits of algo trading are becoming clear, and hedge funds and real money accounts are […]
Read More »

ISDA Publishes Benchmark Fallback Paper

The International Swaps and Derivatives Association (ISDA) has published a report that summarises responses to a consultation on pre-cessation issues for Libor and certain other interbank offered rates (Ibors). The consultation took place between May and July, and sought comment on how derivatives contracts should address a regulatory announcement that Libor or certain other Ibors categorised as critical benchmarks […]
Read More »

Jump Taps Cahill for Digital Asset Sales

Michael Cahill has joined Jump Trading in a digital asset sales role. Based in London, Cahill joins after more than two years at Cboe FX in a sales role. Before that, he was the global head of FX sales at KCG in New York for three years and also had a stint at Nomura as […]
Read More »