One aspect of the feedback to my midweek column caught my imagination and, possibly thanks to sleep deprivation, made me fear that I have seen the seeds of the next FX scandal being sown. I think the banking industry has a problem with how it judges the performance of voice traders – what worked two decades ago simply doesn’t now, and we need it to change before we breed a similar level of desperation to hit targets to those that incubated the chat room scandal.
Tag: voice trading
A new survey by trading technology provider Integral Development Corp finds that FX market participants face a race against the clock to be fully prepared for MiFID II.
In a global poll of 282 market participants last week the firm found that only 18% claimed their FX business was completely set for January 3, while one third saud they were only half ready how the requirements, which include demonstrating best execution to clients and increased reporting, will affect currency trading.
Tullett Prebon has partnered with technology provider GMEX Group to develop a hybrid voice and electronic trading platform for FX options. The new trading solution will enhance Tullett Prebon’s offering to its clients, integrating GMEX’s request for quote (RFQ) technology with Tullett Prebon’s existing central limit order book (CLOB) capability, the companies say in a […]