FX Markets - 11 Dec 2017
Articles in this issue
Pragma calls for flash crash definition
Technology provider Pragma says systematically tracking flash crashes according to a set of criteria could help regulators
CFTC approves CME and Cboe bitcoin futures
But warns investors it has limited statutory authority over the underlying cash markets and exchanges for bitcoin, which are largely unregulated
CIB revenues set to drop slightly in Asia – Coalition
Survey finds corporate and investment banking revenues are expected to be 4% lower in 2017 than the year before
R5FX launches renminbi connection with Shanghai Clearing
Connect will enable Shanghai banks to trade spot FX offshore via R5FX
LCH SwapAgent processes first cross-currency basis swap
It is the first non-cleared trade to be transacted as LCH STM, SwapAgent’s settlement-to-market legal and operational framework
Renminbi's share of payments drops 19% in October
Chinese currency slips behind Swiss franc and Canadian dollar as seventh most-used currency for global payments – Swift
ForexClear prints new record, clearing more than $100bn in one day
And recently launched G10 NDF service clears over $700m in a month
SmartTrade opens Milan office as client base grows
The company has onboarded new clients in several places, including Germany, Italy, Japan, North America, South Africa and Switzerland
Markets underpricing impact of tax reform, says BAML
“I think the market is not appreciating the risk of growth,” says David Woo, head of global rates and FX
LBC selects Bloomberg’s FXGO for treasury
Philippine logistic company eyes further expansion and looks for seamless trade execution
Otting becomes comptroller of the currency
Joseph Otting takes over from Keith Noreika, who has served as acting comptroller since Thomas Curry stepped down
Berner joins LBBW in sales
Steffen Berner was formerly Emea head of FX sales at ED&F Man
Gladwin exits CLS, joins consultancy
CLS relationship manager Julian Gladwin left CLS in October and has moved to Elixirr
Nudel joins Societe Generale in FX sales
French bank is understood to be building out its FX sales team
HSBC finds ‘non-existent’ ECU data
The bank must hand over trade data for three 2006 stop-loss orders to ECU Group by January 19 – four weeks earlier than planned
BNY Mellon to become a systematic internaliser
The bank will become an SI under Mifid II, taking on post-trade reporting obligations for clients
Video interview: Harpal Sandhu, Integral
Harpal Sandhu, CEO of Integral, discusses the priorities of his organisation and its clients in the run up to Mifid II implementation
Dollar to lag euro and pound in long run – Danske
Danish bank sees EUR/USD trading at $1.16 in three months' time and at $1.25 in 12 months