FX Markets - 5 Jun 2017
Articles in this issue
Silverman to lead first ECN launch in three years
The new spot FX venue, Fenics FX, comes from BGC Partners, with Hotspot co-founder Howard Silverman at the helm
BNPP fine creates mark-up headache for Street
NYDFS fines the French bank $350 million, partly due to using hidden mark-ups
Renminbi’s share of global payments slips behind Swiss franc
Decline in the Chinese currency’s internationalisation continues as it loses its ranking of sixth place globally – Swift
Broadway Technology aims to expand FX footprint
Moves comes after a recent $42m investment armed the firm with the capital to expand into FX and fixed income
FastMatch to hike rates from July
Following its $153m acquisition by Euronext, the platform has a clear path to expand into Europe and Asia
Platforms voice support for Code, but shy away from policing clients
While venues overwhelmingly say they will adhere to the Global Code, they won't turn away clients who don't
Nex Group’s Knott untangles banks’ trade challenges
Post-trade business reorganises with a focus on cost cutting and simplification
Egger joins FastMatch from Citadel Securities
He will become the platform’s head of sales for the Americas, with a particular focus on the buy side and hedge funds
LGIM's former head of trading joins Ipreo
Stephen Grady, ex-global head of trading at Legal and General Investment Management, takes fintech role
Blau leaves Barclays to join HSBC
Russell Blau will focus on global macro fund FX sales in his new role
Nomura hires Pio for sales role
Jeff Pio left Barclays in January
Bhatti joins Lloyds’ markets team
Omer Bhatti has held various positions in Ficc risk mitigation for several years
Dinneny to drive b-next growth in Americas
He joins from Thomson Reuters, where he headed the compliance, surveillance and derivatives team
Hardwiring best practice into spot FX trading venues
The BIS FX Global Code of Conduct is compelling participants to take a hard look at established electronic spot FX platforms
Yuan surge is unsustainable – Westpac
USD/CNY is expected to trade at 7.00 in Q3, and at 7.20 by the first half of 2018