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Sign of the times, non-bank market marker XTX hires Zar Amrolia from the...
As banks continue to withdraw risk capital from market-making, we are seeing the continued rise of the non-bank market makers. Firms that invest hugely in advanced low latency trading technology, that...
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FX Platforms: Aug 15 vols surge on back of China volatility (EBS leads the...
August saw a surge in volumes for major FX platforms, as the knock-on effects of the Chinese stock market free fall, spread to other markets causing sharp increase in FX volatility, driving up volumes....
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EBSDirect adds FX Options to complete FX product coverage
Interesting to see EBS BrokerTec, adding an FX Options capability to their relationship based liquidity solution EBSDirect, through a licensing agreement with FX Bridge Technologies. The agreement will...
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Fastmatch launches relationship based liquidity provision
Fastmatch, the FX ECN which reported average daily FX volumes of $9.2bln in August, has just announced they have started providing fully disclosed ‘relationship’ based liquidity provision (one-to-one...
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Blockchain in Finance/trading
Ok, I admit I struggle to get my head round Blockchain and distributed ledgers. But what started as the secure transaction transfer mechanism, and record of asset ownership (I think), for Bitcoins may...
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R5FX: New platform for Emerging Market and NDF FX trading
R5FX, a new interbank platform for Emerging Markets FX (EMFX) went live yesterday in London for ‘Latam FX trading’. The platform, built using Smarttrade’s technology, provides a new liquidity pool for...
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Investment Bank League Tables for 1st half 2015 (from Coalition research)
Here is a summary from the Coalition research report on Global & Regional Investment Bank League Tables for 1st half 2015. JPMorgan continued to lead the global Investment Bank rankings with...
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FX Platforms: Sept 15 vols down led by EBS -10.9%, and Reuters -8.4%, whilst...
After the strong surges in volumes in Aug all the major OTC FX platforms saw falls in Sept 15, with EBS down -10.9% at $89.4bn/day, whilst Reuters were down -8.4% at $109bn/day. Only The CME showed a...
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EBS buys institutional platform Molten Markets
Interesting to see the announcement from EBSBrokerTec, that they are buying Molten Markets, the three-year old FX technology platform for asset managers and pension funds. According to the PR, the...
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SalesTrader dashboards
Sales Traders have traditionally been poorly served in terms of dedicated sales trader GUIs. This I think is related to salespeople being overly protective of their client relationships, and fearful...
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Barclays discloses ‘Last Look’ guidelines (but can’t find any from other banks)
Back in June 15, the Bank of England’s Fair and Effective Markets Review (FEMR), published its final report, setting out 21 recommendations to help restore trust in the wholesale Fixed Income, Currency...
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The Chinese Yuan now 4th largest payment currency (3rd most active EBS currency)
According to SWIFT’s RMB Tracker, the Chinese Yuan has entered the top four of world payment currencies by value in August 2015, overtaking the Japanese Yen and reaching a record high share of 2.79% in...
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LMAX FX report: Restoring trust in global FX markets (well worth reading)
Just finished reading a new report and survey from exchange operator LMAX, called “Restoring trust in global FX markets – Striking a balance between transparency and efficiency”. It’s detailed, with...
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CLS FX Settlement: Value of transactions up modest 3.9% in Sept 15 (launches...
The CLS FX settlement system has reported a modest +3.9% rise in the average daily value of FX trades settled through their platform in Sept 15, taking volumes back up to $4.8trillion/day (up from...
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Thoughts on ICAP – Tulletts discussions
The discussions between Tulletts and ICAP whereby Tulletts will buy ICAP’s global broking business is a great move on the part of ICAP. They will offload the high cost, low margin global broking voice...
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ThomsonReuters integrates all of its FX transaction venues into...
Thomson Reuters has announced they are integrating all of their FX transaction venues into next-generation FX Trading desktop, to streamline access to liquidity for the FX community; including advanced...
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FX Platforms Oct 15 vols: Major platforms vols slightly lower, CME vols...
Following weak Sept FX vols, the major OTC FX platforms reported further falls in October, with Reuters down -4.6% at $104bn/day, EBS down -6.5% at $83.6bn/day, whilst The CME futures exchange saw vols...
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ICAP results, and strategy for Electronic Markets and Post Trade Services
ICAP today released first half results, confirmed the sale of the Global Broking Business (IGBB) to Tullett Prebon, and as part of their investor presentation, provided more details on the NewCo that...
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Great coup for EBS as ex-BARX Architect joins EBSBrokertec as Chief Strategist
Tim Cartledge most recently Global Head of FICC and electronic FX trading at Barclays, and instrumental in the development of Barclay’s BARX platform (along with Dave Cooney, now CEO of Mahi FX) is...
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US regulators fine Barclays $150m for abuse of ‘last look’ (fascinating reading)
The NY Department of Financial Services (NYDFS), has handed Barclays an additional $150m penalty and ordered the bank to terminate an employee for what it called: ‘Automated, Electronic Foreign...
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