Corporates
Kantox has partnered with Silicon Valley Bank (SVB), to offer FX management software to SVB’s corporate clients across the UK. The two firms had an existing relationship prior to this deal as Kantox closed its second venture debt financing deal with SVB for €5 million in April. Many of SVB’s clients’ core industries – which […]
A new survey from Citi shows that gaining visibility of their FX exposures remains a core concern for corporate treasurers. In the survey, which includes responses from 400 corporates of varying sizes, industries and geographies, improving cash forecasting was cited most frequently as the top priority amongst these firms. “Firms are recognising that they still […]
More than 3,000 votes were cast in this year’s Profit & Loss Readers’ Choice Awards, which created strong competition throughout the categories. For the first time categories for cryptocurrency markets were introduced and proved to be very popular, alongside the more traditional categories. Here then, are this year’s winners: Best Market Maker (Major Currencies) JP […]
NatWest Markets’ Jacintha Love, head of Agile Markets products, and Jeremy Maw, head of UK mid corporate FX sales, talk about the nuances of building e-FX solutions for corporate clients. Profit & Loss: So why have corporate clients been a big focus for you on the e-FX side? Jeremy Maw: Corporates are a huge part […]
Pulse It is fair to say, we think, that Citi’s Pulse is the ultimate corporate solution, so much so that this is the ninth year in a row it has won a Digital FX Award. As a workflow solution it is par excellence but its real strength lies in the nuances and flexibility around the […]
Yi Hahn Chin, MD and regional head of e-FX solutions – corporates, EMEA at Citi, talks about the most recent regional rollout of the bank’s e-FX platform for corporates, and the broader challenges associated with deploying this technology in emerging markets. Profit & Loss: Talk me through the roll out of Pulse in Nigeria – […]
“The biggest driver for the industry last year was regulation. It created a sea of change in the way that markets actually behave,” says Tod Van Name, global head of FX electronic trading at Bloomberg. MiFID II was obviously the major piece of regulation driving this change in 2018, but although this regulation only applied to firms operating in Europe, Van Name says it caused a much broader push globally to raise market transparency, track trade details, and justify all of the decisions made around trade execution. While it represented a big lift for many multi-dealer platforms, this was especially acute for a firm like Bloomberg, which offers such a wide array of securities and instruments that trade across many asset classes and to a diverse range of client types.
“The biggest driver for the industry last year was regulation. It created a sea of change in the way that markets actually behave,” says Tod Van Name, global head of FX electronic trading at Bloomberg. MiFID II was obviously the major piece of regulation driving this change in 2018, but although this regulation only applied to firms operating in Europe, Van Name says it caused a much broader push globally to raise market transparency, track trade details, and justify all of the decisions made around trade execution. While it represented a big lift for many multi-dealer platforms, this was especially acute for a firm like Bloomberg, which offers such a wide array of securities and instruments that trade across many asset classes and to a diverse range of client types.
Kyriba, a provider of cloud treasury and finance solutions, has reached an agreement to acquire FiREapps, a firm that provides enterprise currency management solutions to corporate treasuries.“FX volatility is a major strategic challenge for treasury organisations,” says Kevin Permenter, senior research analyst for enterprise applications at IDC, a technology analyst firm. “Financial leaders doing business in multiple countries should be looking to adopt a more holistic approach to their global risk management strategies.”In a release issued today, Kyriba says: “The acquisition will create a highly advanced solution for managing global FX risk, including data gathering and consolidation, reporting, analytics, decision support, payments, hedge accounting and more. The combined result is a faster, more efficient way to manage FX exposures than using old school processes involving spreadsheets and manual data gathering across multiple systems.”
The band is back together again in this week’s podcast as Galen Stops returns from a short holiday to join Colin Lambert to discuss all things currency – this week (much to the relief of P&L’s audio engineers) with no interruptions from wildlife or pool attendants!
Listen is as they highlight growing concerns in the industry that it may be harder to spread the word about the FX Global Code than previously thought, thanks to the realities of life on buy side and vendor side. On the subject of transparency and ethics, Lambert is keen to talk about the new phenomena of “full amount” trading in FX markets and Stops expresses his feelings about the proposed Code of Conduct for cryptocurrency markets.
As always there is room for the random, so why does Lambert want a merger between the new digital assets association and the recently renamed Wholesale Markets Brokers Association? Listen in to find out.
