United States (US)
DoJ asks for discovery stay in benchmark case until ‘Cartel’ case ends
US tries to balance need to protect ongoing criminal investigations and lawsuits with civil attorneys’ desire for additional testimonies
IBM and Avaloq to build Swiss cloud
Swiss Banking Cloud could be ready to on-board new clients in second half of 2018
DTCC adds two to the board
BNPP’s Claudine Gallagher and Virtu’s Joseph Molluso are the newest additions to the 20-member board of directors
Grise out, Colantone in as head of FX sales at JP Morgan
Mike Grise’s departure comes after an eight-year tenure as head of FX sales, Americas
MarkitServ connects to Asigna for clearing Mexican peso
New connection enables a standardised workflow and connectivity for clearing Mexican peso TIIE 28 swaps
TraderTools commits to FX Global Code
Yaacov Heidingsfeld says the firm supports the goals of the principles
FX under one umbrella – the Kölzer plan
Carlo Kölzer, 360T’s chief and Deutsche Börse’s head of FX, tells FX Week about his plans and ambitions for the venue
New York Fed commits to FX Global Code
It promises to conduct its currency business in a manner consistent with the set of principles
EM structural strength in focus as dollar rallies, CIBC
But dollar gains could soon lose steam
MarketFactory launches pre-trade limit tool
Reflector monitors and balances the limits and positions across all trading venues
G10 FX revenues hit two-year highs – Coalition
The first quarter of 2018 saw a reversal of revenue contraction seen in the last two years, with profits up 20%
FX lawsuits: the roundup
The number of cases related to conduct in foreign exchange markets has multiplied. Here is our handy guide to developments so far
Dollar’s rise and flagging risk sentiment dampen EM - SEB
Reduced risk appetite is currently affecting the EM currencies, but strong economic growth could help them to recover in the second half of the year
Tolat becomes TradAir chief executive
Viral Tolat, former CTO of EBS and Integral, becomes chief executive of the technology firm
BTIG adds Daly to FX team
Brendan Daly joins as a director
Thomas to lead Morgan Stanley’s e-macro sales team
Matt Thomas was previously in Credit Suisse’s FX and rates electronic sales team at Credit Suisse
DoJ indicts another FX trader on price-rigging charge
US says Akshay Aiyer conspired with other New York-based traders at rival banks to fix prices in Ceemea currencies
FX Cartel loses bid to dismiss criminal case
Judge says SFO investigation was a sign the currency traders could be prosecuted somewhere
OTC derivatives values fall to 10-year low – BIS
The most recent slump continues the retreat from gains witnessed in the first half of 2016
360T hires three for senior FX roles
Randy Rupan, Robin Nicholas and Paul Lonsdale join the trading venue
Greenback to ease again after recent lift – CBA
But both the euro and sterling are set for appreciation due to policy tightening and dollar weakness
Goldman Sachs hit with $54 million NYDFS fine
Regulator slaps bank with fine for unsafe and unsound FX practices between 2008 and 2013
Zografos joins FastMatch in sales
Nicholas Zografos takes on sales role at FastMatch New York, swapping BNP Paribas for the trading venue
Bogucki hearing scheduled for May 23
Defence lawyers are set to argue that the charge is time-barred and not applicable to this case