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BofE FX Survey data: $2,234bln/day (12% down from Apr, but 11% up YonY) –...
The Bank of England today released their latest semi-annual FX turnover survey results for October 2013. Highlights on overall London FX volumes Total FX vols down 12% since Apr at $2,234bln/day (up...
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EBS volumes rebound strongly in January, and EBSDirect gaining traction
EBS the FX ECN platform owned by ICAP saw daily FX volumes rebound strongly in January, up 23% to $87.5bln/day from December’s multi-year low of $71bln/day, although still some -38.1% lower than a year...
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EBS and Reuters/FXall Jan 14 FX vols (record day for FXall)
The three main OTC FX platforms have now reported their Jan 2014 volumes. All three platforms delivered strong double-digit pct gains in volumes, with FXAll recording it’s highest single day trading...
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Value vs cost of FX liquidity provision
Interesting article in FX Week, about banks pulling their liquidity provision back from a number of multi-bank platforms due to the high cost fee structures on those platforms. According to Kurt Vom...
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European Market Liquidity Conference – thoughts and comments
Last week I attended the Association for Financial Markets in Europe (AFME) 9th annual European Market Liquidity Conference. As always with AFME, there had some thoughtful speakers and topical panel...
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e-FX adoption seen accelerating (partly due to FX fixing problems)
The migration of foreign exchange trading from voice to electronic based trading has been gathering pace over the past few years. Whilst exact e-FX ratios vary between banks, products, client segment...
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Internalisation of FX flows
Earlier this week I looked at how the adoption of eFX was accelerating and commented on the huge increase in the e-FX ratios at RBS in particular, which has risen from 8% of flows being electronic in...
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EBS and Reuters/FXall Feb14 FX vols
The three main OTC FX platforms have now reported their Feb 2014 volumes. All platforms shown slight drops in volumes after the very strong January figures of last month. FXall: $122bln/day, down 0.8%...
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Regional Banks investing in SDPs
We have discussed here a number of times how regional (commercial) banks have been ‘upping their game’, and investing in talented e-commerce people, better back-end pricing technology and importantly...
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Reuters overhauls spot matching rule book
Thomson Reuters has today announced an overhaul of the rule book which sets out acceptable behavior and practice within their FX Matching platform. The changes, first mooted in December follow a long...
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Deutsche partners with FIREapps and how SDPs can help
Deeper the insight a bank has into their corporate customers cash-flows and exposures the better the FX hedging solutions they can provide. However, even large multinational corporates often struggle...
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EBS, Reuters/FXall and CLS Mar14 FX vols (FXall record high)
The three main OTC FX platforms have now reported their Mar 2014 volumes. Whilst Reuters matching saw a small drop in volumes and EBS a small rise, FXall saw strong growth. Hitting a new all time high,...
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Danske Bank launches new SDP
Danske Bank has launched a new Single-dealer platform, and joins the growing rank of regional banks investing in SDPs designed to protect and grow their client franchises, by creating a strongly...
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FICC broken business model? Barclays down.
Further evidence that the FICC business model of investment banks appears to be ‘broken’ came today with Barclays announcing a 41% decline in FICC revenue. By contrast UBS, who also reported today, and...
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HSBC Results – strong start to year from markets division
Following yesterday’s dismal results from Barclay’s dragged down by weak 41% drop in income from FICC, today HSBC by contrast reports a good set of results from their markets division. HSBC Global...
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EBS Apr vols down 22%
EBS is the first of the large platforms to report April FX monthly volumes figures. The data for April shows the third largest monthly drop in vols down from $88.2bln/day in March to a new all time low...
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EuroMoney 2014 FX Poll (Deutsche toppled from #1 spot)
Well, after nine years as #1 FX bank in the world, the ‘Mighty Deutsche’ has finally been toppled by Citigroup, who have been steadily gaining market share since 2008, and as the chart below shows it...
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Reuters/FXall Apr 14 vols (FXall steady at record high)
The three main OTC FX platforms have now reported their Apr 2014 volumes. FXall volumes although virtually unchanged, are still a new record high at $132.3bln/day. Whilst Reuters matching vols were off...
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CLS reports 10.5% drop in value of FX trades Apr 14 to $4.79trn/day
Data from CLS for April 2014 shows a 10.5% drop in the value of FX trades submitted to CLS for settlement, down from $5,350bln/day in Mar 2014 to $4,790bln/day in April. The lowest since Aug 13...
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Hotspot move to release daily FX volumes
just caught my eye that HotSpot ECN is moving from monthly to publishing daily FX volumes. This is a great move in terms of improved transparency, and no real technical reason why the other major...
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