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The Last Look…
My antenna was tweaked a week or so ago by a report that at least two HFT-type firms were supposedly… Read More »
APAC Banks Still Unsure on FRTB Compliance: Survey
A survey of 24 Asia-Pacific based financial institutions finds the majority believe the fundamental review of the trading book (FRTB)… Read More »
Currency Traders Eke Out Minor Gains as CTA Recover Ground
Currency traders managed to scrape out minor gains in April amidst a recovery of sorts for CTAs, with the Barclay… Read More »
ESMA Publishes Opinion on Market Outages
Following a long consultation process, the European Securities and Markets Authority (ESMA) has published a final Opinion on market outages,… Read More »
TP Icap Handles First Crypto Trade on Fusion
Six months after the platform was registered with the UK’s Financial Conduct Authority, TP Icap says the first cryptocurrency trade… Read More »
FX Market Approaching Last UMR Test: Is Change Upon Us?
When phase 6 of the uncleared margin rules (UMR) came into force at the start of September 2022, there was… Read More »
Regulation Pushing Prop Trading Firms Out of Europe: Survey
Proprietary trading firms in Europe are considering giving up their Mifid II licenses and/or moving operations outside the continent in… Read More »
Bloomberg Enhances Rule Builder
Bloomberg says it has delivered several enhancements to its multi-asset trading solution Rule Builder, aimed at improving asset managers’ efficiency… Read More »
OpenFin Attracts Further Funding
Operating system OpenFin has secured $35 million in Series D investment in a funding round led by Bank of America with significant… Read More »
Fixed Income Giants to Form JV for EU Fixed Income Tape Bid
Fixed income platform giants Bloomberg, MarketAxess and Tradeweb have announced the signing of a joint venture agreement, to establish an… Read More »
GFMA Highlights FX Challenges of US Move to T+1
A new paper published by the Global Financial Markets Association (GFMA) offers insight into what will no doubt be a… Read More »
HSBC Unveils AI Markets
HSBC has launched AI Markets, a service offering that uses purpose-built natural language processing (NLP) to enhance how institutional investors… Read More »
CLS Reports FX Volumes
CLS Group has completed the reporting schedule of FX volumes for April with the utility largely in line with FX… Read More »
Crossover Markets Inks Deal with Hidden Road
Digital asset technology firm Crossover Markets has announced a partnership with credit network Hidden Road, to provide streamlined access to Crossx,… Read More »
BNY Mellon Expands Liquidity Direct Platform
BNY Mellon has expanded its short-term investment platform Liquidity Direct to incorporate access to mutual funds, enhanced focused investing options,… Read More »
The Last Look…
There are, inevitably, legal niceties and technicalities involved that mean the outcome of the case remains unclear, however reading the… Read More »
Hidden Road Gets EU Licence
Credit network Hidden Road says its Netherlands entity, Hidden Road Partners CIV NL, has recently been granted a license as an… Read More »
Judge Backs Plaintiffs in Currenex Case, With a “But”
A judicial opinion published by the Southern District Court of New York, which is hearing the class action brought against… Read More »
Project Cedar Reports Phase II Success
The Federal Reserve Bank of New York’s New York Innovation Centre (NYIC) and the Monetary Authority of Singapore (MAS) have published a… Read More »
ECB Adds to FX Settlement Risk Warnings
The European Central Bank has joined a long list of central banks and regulators to warn over the potential cost… Read More »
Zodia, Coinshares and LMAX Digital Collaborate
Zodia Custody and LMAX Group have announced a collaboration to deliver institutional-grade trading infrastructure and custody services for European digital assets… Read More »
Currency Volatility Places CFOs in “Tenuous Position”: Kyriba
The latest quarterly Kyriba Currency Impact Report finds that the currency impact in Q4 2022 on corporations in North America… Read More »
MAS Aligns Globally on OTC Derivatives Regulation
Following a consultation process, the Monetary Authority of Singapore (MAS) has adopted what it terms a “close to final” set… Read More »
GFMA Calls for More Innovative DLT Approach from Regulators
The Global Financial Markets Association (GFMA) together with Boston Consulting Group (BCG), Clifford Chance and Cravath, Swaine & Moore, have… Read More »
Ripple Moves into Custody with Metaco Buy
Ripple has moved into the digital assets custody space through the acquisition of Swiss-based custody and tokenisation firm Metaco in… Read More »
360T Non-Spot Volumes Higher as LSEG FX Follows Trend
There were mixed FX volume reports from 360T and LSEG FX in the past days with the former eking out… Read More »
HSBC Hit With “Deeply Troubling” Spoofing Fine
The US Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against HSBC Bank USA for manipulative and… Read More »
OrBit Claims Crypto Options First on New DEX
OrBit Markets says it has executed its first trades on the newly-launched option decentralised exchange (DEX) Aevo OTC, run by… Read More »
RMB IRS Market Gets a Boost from Swap Connect Opening
Swap Connect, the new mutual access programme between Hong Kong and Mainland China’s interbank interest rate swap markets, went live on 15… Read More »
The Last Look…
A huge thank you to everyone who made the second Full FX Scandinavia conference such a success last week, from… Read More »
DTCC joins FMSB
The Financial Markets Standards Board (FMSB) has welcomed DTCC Europe, a subsidiary of The Depository Trust & Clearing Corporation (DTCC),… Read More »
BIS Innovation Hub Publishes Offline CBDC User Guide
As part of Project Polaris, the BIS Innovation Hub Nordic Centre has published a comprehensive handbook exploring key aspects of how central… Read More »
RFR Adoption Hits New Peak
With a major Libor landmark approaching, the use of risk-free rates (RFRs) to reference interest rate derivatives has hit a… Read More »
FX HedgePool and Charles River Connect
Peer-to-peer FX matching platform FX Hedgepool has unveiled a partnership with Charles River, to connect the platform to the latter’s… Read More »
Macro Back in the Hedge Fund Box Seat in April
After a challenging month, Macro strategies bounced back strongly during the market turmoil of April to lead hedge fund performance… Read More »
Pull the Plug!
By City Rover Say what you like about them, but there is no denying that the two American ‘Investment Banks’… Read More »
FIA Tech Partners with Symphony
FIA Tech has unveiled a partnership with Symphony, the markets’ infrastructure and technology platform to improve data query workflows in… Read More »
US Fines Firms for Communications Lapses
The US Commodity Futures Trading Commission (CFTC) and Securities Exchange Commission (SEC) have both fined Bank of Nova Scotia for… Read More »
State Street Executes First Centrally-Cleared Repo Trade at Eurex
State Street has executed its first centrally-cleared repo transactions on Eurex, marking this as the first clearing house outside the… Read More »
Initial Margin Rises in 2022: ISDA
ISDA has published its latest margin survey, which shows that $1.4 trillion in initial margin (IM) and variation margin (VM)… Read More »
Moulds New FMSB CEO
Jonathan Moulds has been named as the new CEO of the Financial Markets Standards Board (FMSB), replacing Mark Yallop, who… Read More »
Glue42 and BNY Mellon Seek to Automate Financial Operations
Glue42 has joined BNY Mellon’s “Operations to Operations” project with a jointly-developed solution that streamlines communications between BNY Mellon and… Read More »
LSEG Turns to OpenFin for Workspace Platform
London Stock Exchange Group (LSEG) has selected OpenFin’s technology for its flagship LSEG Workspace platform. The firms say the partnership… Read More »
O’Hara Takes on QB Chair Role
Matt O’Hara, CEO of 360T’s Americas business, has taken on the additional role as executive chair of the board of… Read More »
Firms Combine for Privacy-Enabled Blockchain Network
Digital Asset and several market participants have announced plans to launch the Canton Network, something the firms claim is the… Read More »
United Fintech Continues Acquisition Spree
United Fintech has increased its stake in platform TTMzero to assume a majority holding in the Berlin-based Regtech firm of… Read More »
Digitec Acquires Modular FX
Pricing and data technology provider Digitec has announced the formal acquisition of e-trading and consulting services firm Modular FX, having… Read More »
The Last Look…
I had some great conversations off the back of last week’s column regarding the Glen Point case and about option… Read More »
CME, EBS FX Numbers Lower
The slowdown in FX activity in April was also felt at CME Group where both the FX futures and options… Read More »
Bank Fined Over Plan to “Break” Currency Peg
The UK’s Financial Conduct Authority (FCA) has announced a £10 million fine against a London-based boutique bank over alleged plans… Read More »
