Trading
Prosecutor alleges ‘bonanza of lies’ in closing argument
Prosecuting attorney says Mark Johnson used his superior knowledge to take advantage of Cairn Energy
SGX launches US presence in Chicago
Asian exchange opens US operation to build on extension of offshore trading hours on SGX in late 2016
Johnson under cross-examination
Prosecution attorneys argue HSBC went beyond its executing bank role when it advised Cairn on order execution
Expect dollar rally to fade, BBVA says
The Spanish bank sees EUR/USD trading at $1.18 by year-end and to hit $1.21 by the fourth quarter of 2018
‘Gus thinks we’re buying 6.5bn’ – Johnson trial
Mark Johnson’s trial reveals how HSBC faced significant difficulties with the Cairn order as other banks knew of the deal and tried to benefit from the information
Judge allows Rodgers’ ‘Russian name’ analysis into case
Judge does about-turn and allows Rodgers – whose $1,100 hourly fee riles prosecution – to enter his findings in court
Johnson: ‘It was fair all around’
Embattled former trader says execution of Cairn Energy order produced better than expected outcome
Salmon warns of algo risks
BoE's Chris Salmon cautions against lack of transparency brought in by automated high-frequency trading
Johnson set to take stand today
Mark Johnson will testify in his own defence today following day of high drama on October 10 around Rodgers’ analysis
GE’s FX managing director retires, launches advisory
As banks downsize their sales teams, David Rusate is looking to lend his currency expertise to small- to medium-sized firms
September brings bumper month for platforms
Some create new records, while others see growth of more than 20% compared with August and 50%-plus year-on-year
City Index: renminbi strength to continue
As long as capital continues to flow into China’s stock market, its currency will remain strong
Johnson’s defence to present case on Tuesday
Rodgers expected to take stand during course of the week
Cahill in hot seat over FCA statements
Former HSBC trader admits he would have given a different answer to the FCA if the question had been more specific
Cairn treasurer denies knowing HSBC would pre-hedge order
Yet neither the corporate nor its adviser instructed the bank how to deal with the $3.5 billion order
Fed fines HSBC $175m for unsafe FX practices
Bank ordered to improve practices
Deutsche settles FX rigging case for $190m
Credit Suisse now the only holdout defendant in the case that involves 16 major banks
Euro appreciation to slow, says BMO Capital Markets
Canadian bank sees dips in EUR/USD as buying opportunities, given US dollar is in medium-term downtrend
Pre-hedging debate at centre of Johnson trial
For some, pre-hedging is common practice; for others, it is synonymous with front-running – a jury will need to decide
ACI joins voices calling for changes to Principle 17
ACI finds “no firm evidence or specific situations” where there is any likely benefit to clients from trading in the last look window
Johnson trial to resume on Monday
Judge falls ill, trial to continue on Monday; on Wednesday, Dipak Khot, testifying for the prosecution, underwent six hours of questioning
Northern Trust: algos give power to clients
The release of an FX algorithm suite in June ushered in a new era for the custody giant
FMSB warns of Ficc market vulnerabilities
In its annual report, the body representing the global Ficc market, highlighted areas of concern still needing attention
Johnson’s lawyer brands trial a ‘governmental mistake’
On the tense first day of Mark Johnson’s trial, the prosecution claims he saw dollar signs