Clik here to view.
The end of ‘last look’ in FX?
It’s about time, that the practice in FX of liquidity providers having a ‘last look’ before accepting a trade – a legacy from the old days of phone quoting, when the dealer took one ‘last look’ at...
View ArticleClik here to view.
FX Platforms – May 15 vol: All major platforms report falls of between -1%...
The major OTC FX platforms have now reported their May 15 volumes. All the platforms bar one, reported falls ranging from -1% for EBS to -6.8% for Reuters Spot, with only FastMatch registering an...
View ArticleClik here to view.
Talk of FX multi-dealer platform 360T may be sold for $750m. How does that...
The WSJ ran a story last week that privately held FX multi-dealer platform 360T which provides FX trading services to over 1,700 institutional clients, and which back in 2012 sold a stake to private...
View ArticleClik here to view.
Fair and Effective Markets Review (FEMR) releases Final Report
The Fair and Effective Markets Review today published its Final Report (see link at bottom of post), which sets out 21 recommendations to help restore trust in the wholesale Fixed Income, Currency and...
View ArticleClik here to view.
Last look, lack of time-stamp and internalisation of flows – Which practice...
Last month’s publication by The Fair and Effective Markets Review FEMR, set out 21 recommendations to help restore trust in the wholesale Fixed Income, Currency and Commodity (FICC) markets....
View ArticleClik here to view.
FX Platforms Jun 15 vols: EBS and FastMatch spot show decent gains, whilst...
The major OTC FX platforms have now reported their Jun 15 volumes. In terms of spot FX, EBS and FastMatch show decent 5%+ gains, whilst Reuters spot volumes fall 1.8% to their lowest levels of 2015....
View ArticleClik here to view.
Why SDPs should provide TCA tools for buy-side clients
The majority of single-dealer platforms (SDPs) – especially those of regional banks, provide mainly principal (rather than agency) based pricing to clients. That’s where the bank takes the other side...
View ArticleClik here to view.
Talk of ICE exchange to buy Fastmatch
Interesting to see that Profit&Loss running a story today that the US futures Exchange ICE may be preparing to buy our all three shareholders (Credit Suisse, BNY Mellon and FXCM) of FX platform...
View ArticleClik here to view.
FX SpotStream goes live with new HTML5 GUI from smartTrade.
FX SpotStream the multi-bank platform has joined the growing number of platforms that are releasing new HTML5 trading GUIs. The platform, which runs as a market utility is owned by a consortium of...
View ArticleClik here to view.
FX Platform consolidation: 360T sold to Deutsche Boerse for €750m (as...
As first mentioned last month, the multi-bank FX platform 360T has now been sold to exchange operator, Deutsche Boerse for €750m, beating off interest from rival exchange operator CME Group. The...
View ArticleClik here to view.
Poll results: Last look, lack of time-stamp and internalisation of flows –...
A few weeks ago, we explored last look’, ‘time stamping’ and ‘internalisation’, three practices that The Fair and Effective Markets Review FEMR, felt needed improved controls to help restore trust in...
View ArticleClik here to view.
BIS establishes working group to strengthen code of conduct standards and...
In the recent release of ‘The Fair and Effective Markets Review’ FEMR, into how to restore trust in FICC markets, the report made the following recommendations in sections 4a and 4b: 4. Launch...
View ArticleClik here to view.
BofE FX Survey data: London FX vols down 8% in Apr 15, whilst USD/CNY vols...
The Bank of England today released their latest semi-annual FX turnover survey results for Apr 2015. Highlights on London FX volumes for Apr 2015 Total FX vol of $2,481bn/day, fell -8% compared to the...
View ArticleClik here to view.
Central Bank FX Survey data: What’s happening to eFX ratios? Comparing London...
In my previous post, I looked at the Bank of England (BofE) FX semi-annual FX survey data. In this post, I want to look at some of the interesting changes in eFX ratios – the proportion of total FX...
View ArticleClik here to view.
New management team at merged EBS BrokerTec
Back in Dec 14, ICAP announced they were merging their two leading trading platform business divisions EBS (FX) and BrokerTec (Rates) into a single operation called EBS Brokertec Markets. Today the...
View ArticleClik here to view.
EBS and FXall looking to service Corporate Treasurers – so where does that...
The two main FX platform providers, ICAP’s EBS BrokerTec and ThomsonReuters have both announced new multi-dealer offerings to better service corporate treasurers. EBS BrokerTec has announced they are...
View ArticleClik here to view.
HotSpot FX to offer free trading till year end, whilst ADV hit 2.5 yr low
BATS Global Markets, who bought HotSpot FX earlier this year, has today announced plans to offer free FX trading till the end of the year once their new European matching engine when it goes live next...
View ArticleClik here to view.
FX Platforms: July 15 volumes down ranging from -5.5% to -26% for major...
The summer slowdown in FX platforms volumes has certainly kicked in, with all platforms showing falls in Jul15. Among the Top Tier platforms, falls ranging from Reuters Spot with $101bn in July the...
View ArticleClik here to view.
Markit to consolidate position in FX Trade processing with Dealhub acquisition
Just spotted this on Bobsguide, a very interesting development. Markit has agreed to acquire Dealhub, the 55 strong UK company that provide FX solutions to banks, brokers and other financial market...
View ArticleClik here to view.
Nasdaq prepares to launch own FX platform
Exchanges can’t seem to get enough of FX! Following the recent spate of exchanges buying FX platforms (Deutsche Boerse buying 360T, BATS Global Trading buying Hotspot, and talk of ICE buying...
View Article