FIA Tech, which provides fintech solutions for the futures industry, has selected post-trade service provider Baton Systems, to accelerate brokerage payments and shorten the settlement cycle for its customers. Historically, futures brokers have been burdened by long collection periods, increased costs and write-offs with disparate and error-prone processes across the global network of futures exchanges, […]
The foreign exchange post-trade infrastructure provider Cobalt, has announced that Standard Chartered is the latest client to sign, adding that as an emerging market bank, this move will allow more market participants to experience the benefits and cost savings that Cobalt’s infrastructure provides. “As a global FX participant we realise the need for market standardisation,” […]
ChartIQ, a fintech company that specialises in data and charting software, today introduced Post-Trade Visualization, a software solution that it says provides order transparency. Post-Trade Visualization enables financial firms to meet regulatory compliance requirements like Dodd-Frank and MiFID II by organising the relevant data related to an order and visually mapping an order’s lifecycle in one place, […]
Baton Systems, a provider of distributed ledger-based post-trade solutions for capital markets, has appointed Alex Knight as head of EMEA, based in London. Knight spent the last 18 years at Citi, where he held various senior positions in the UK, Asia and Australia, and worked in the bank’s FX prime brokerage business, where he held […]
It’s been a busy 20 years since Profit & Loss launched. Colin Lambert and Galen Stops have picked out 20 key events or trends during that time and asked senior industry figures for their perspective on them – here’s numbers 20-16. 20. A New Currency for a New Era While the big event of 1999 […]
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 […]
In recent years there has been a significant re-pricing of credit, but are there more adjustments to come?This will be one of the key themes addressed by speakers at the upcoming Profit & Loss conference on March 27.Senior figures at Eaton Vance, Citi and JP Morgan will discuss some of the key factors impacting how credit is priced in the FX market, and discuss the major trends shaping post-trade decisions amongst trading firms.Talking points for the event will include:How are the structures of FXPB businesses changing in response to client demands?
Kate Lowe, global head of trade services at State Street, talks to Profit & Loss about how new margin requirements could shape buy side behaviour in the FX market, and why 2019 is likely to be a “staging” year for many of these firms.Profit & Loss: As you’ve been talking to clients at the start of 2019, what’s been the major areas of focus for them?Kate Lowe: Well one of the big talking points at the moment is the impact that the uncleared margin rules (UMR) are going to have on the industry. In September this year, the threshold for firms that have to post initial margin for u
IHS Markit is partnering with Cobalt through its MarkitSERV business to deliver and sell post-trade processing services for FX, and is also making a strategic investment in the firm.“In working together, MarkitSERV and Cobalt will offer a shared post-trade infrastructure designed to replace legacy technology and manual processes, bringing increased efficiency and reduced operational risk to the FX market,” says IHS Markit in a release issued today.The integration between the firms is already complete, with trade data flowing from customers and trading venues via MarkitSERV into the Cobalt platform.
FX industry veteran and Profit & Loss 2012 Hall of Fame inductee, David Ogg, reflected in a recent video interview on how the rapidly evolving crypto markets resemble the FX markets of the past.
“It’s like FX in the 1980s,” said Ogg, who is currently the head of FX and trading venues at OTCXN, before adding, “The front-end technology is pretty primitive.”
By contrast, he said that OTCXN has developed “cutting edge” technology in terms of how it displays liquidity, offering visual tickers that enable traders to get a visual representation of what is happening in the market with just a glance.