FX Markets - 16 Jan 2017
Articles in this issue
China’s FX reserves fall again in December, but decline slows
Latest PBoC figures show a drop of $41 billion in December to $3.01 trillion, the sixth consecutive month of decline
Rowsell joins BGC Partners as head of credit strategy
Arran Rowsell will be based in London, reporting to Tony Warner
FX platforms finish 2016 on a flat note versus the year before
Despite spikes in June and November, over-the-counter FX trading was subdued
Hernandez leaves BMO
Head of FX sales to hedge funds departs
FastMatch snatches Beacroft from Hotspot in Asia
Beacroft helped to build Hotspot's business in the region
US indicts three in FX probe
Justice Department says the accused UK-based traders face a maximum of 10 years in prison and $1 million in fines
OCC fines Usher and Ramchandani $5m each in ‘Cartel' probe
Former traders indicted by the DoJ for the same offences
Yorke is global head of 'not being stuck in the office'
He was global head of FX forwards at SEB
Narasimha replaces Eger as Oanda's chief
Eger will assist with the transition of Narasimha, whom he has mentored over the years
Wells Fargo: potential monetary policy convergence in 2018
But divergence will prevail in 2017
Linker swaps Thomson Reuters for 360T
As well as expanding 360T's existing business and products, he will drive the launch and adoption of its Clob and ECN initiative
Thorsson appointed global head of FX at Swedbank
Stockholm-based Thorsson joined the bank in 1999, and was most recently head of FX
Nex Data signs distribution partnership with Tradition
Nex Data will source real-time and end-of-day prices from Tradition's global electronic, hybrid and voice-broking operations
Ex-Citi trader pleads guilty in price-fixing conspiracy
Between January 2007 and July 2013, Christopher Cummins, a former Citigroup trader in New York, conspired to suppress and eliminate competition in Ceemea currencies
BIS finds sterling crash was due to 'confluence of factors'
October 7 sterling flash crash in 2016 down to illiquid conditions, less experienced traders and loss of public data from venues
Integral wins appeal against EBS's Tolat
The case is now remanded to the district court, where Tolat will face a second trial