INTL FC Stone Joins FXGO

INTL FCStone says its London FX desk is now a liquidity provider on Bloomberg’s FX electronic trading platform, FXGO. Joining the FXGO platform enables the firm to offer added efficiencies for market participants conducting FX trading, it says. Bloomberg’s FXGO allows service providers to contribute executable pricing across a wide range of currencies via the […]
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Kraken Launches FX Trading…Unless You’re in the US

Cryptocurrency exchange Kraken has launched FX trading with nine currency pairs, however while the service has been rolled out globally, US residents are unable to trade on the platform for regulatory reasons. The platform is support the US dollar versus CAD, CHF, EUR, GBP, JPY, as well as crosses between those currencies. The firm says […]
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TP Icap Launches FX Options Platform

Interdealer broker, TP Icap, has launched an FX options platform, FXOhub, which the firm says represents “a step-change in intuitive liquidity sourcing and trade execution”. FXOhub provides a single logon to the TP Icap Order Book screen for ATM Straddles, Risk Reversals and Butterflies, as well as a Request for Quote (RFQ) screen that shows […]
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An Open Secret Confirmed: Citi Reveals FX Connectivity Cuts

Citi’s foreign exchange business has confirmed it has imposed changes to its vendor platform requirements, resulting in the 12 of 53 connections to the bank being terminated, although sources familiar with the matter tell Profit & Loss that further changes and cuts are likely in the months ahead. As part of the new requirements, Citi […]
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Refinitiv Sees Volume Surge in February

As was the case with other platforms that reported earlier in the month, Refinitiv has reported strong February average daily volume in spot FX – handling over $100 billion per day for the first time since 2018. Across its spot platforms Refinitiv says it had spot ADV of $103 billion, a 24% increase from January […]
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In the FICC of It

The is one subject on the agenda for this week’s podcast – the return of volatility to FX markets. Joining P&L’s managing editor Colin Lambert to discuss the issue are David Mercer, CEO of LMAX Group, and Joel Kruger, currency strategist at LMAX Exchange. After Kruger provides his view of current conditions in, and drivers […]
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StanChart Invests in 24 Exchange, Takes Board Seat

24 Exchange has received a strategic investment from Standard Chartered, related to which, the bank’s global head of FX trading, Geoff Kot, will join 24 Exchange’s board of directors. The trading venue, which launched in late 2019, offers a central prime broker clearing model with Standard Chartered as the central clearer for the trading of NDFs. It plans […]
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And Another Thing…

I mentioned in a recent column the increasing noise around fragmentation in equity markets, specifically end user frustration and unhappiness with it, but it is noticeable to me that the same discussion is gaining more volume in FX. Now I need to stress that this is not me (for about the 10th time) predicting consolidation […]
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More Positive News from FX Platforms

Following new records for three platforms reported earlier this week, a second group of platforms has unveiled strong turnover data for February. CME Group says that notional average daily volume (ADV) across its futures and options product suite was $98 billion in February, a 33.1% increase from January and a 32.6% increase from February 2019. […]
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Platforms Hit New Highs as Return of FX Volatility Helps ADV

The surge in activity associated with the return of volatility towards the end of February has propelled Euronext FX, FXSpotStream and CboeFX to new daily volume highs. On Friday February 28, EuronextFX reported it handled $45.8 billion, exceeding its previous high water mark of $39.6 billion set on June 24, 2016. Meanwhile the firm’s Tape […]
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