News/Trading
Venue competition heats up as e-FX volumes plateau, says Greenwich
Following 74% growth in electronically executed FX in 2007-14, volumes flattened for four years
BNY Mellon launches FX options trading
The move fills a strategic gap in the bank’s big push into foreign exchange
NYDFS fines Deutsche Bank $205m for FX
Fines relate to practices between 2007 and 2013, when Deutsche was the world’s largest dealer by market share
Active traders were stabilisers during FX shocks, says think-tank
The three largest currency moves of the past 20 years give insight into trading behaviour across segments, says JP Morgan Chase Institute
INTL FCStone rolls out e-platform for frontier units
Platform to streamline price discovery of exotic currencies through more electronic process
FX volumes rise in May
Trading platforms continue positive trend that started at the beginning of the year
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
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%
CLS profits down in 2017 as firm invests
Settled volumes continue to grow year-on-year and underlying profits are in line with expectations, Puth says
European banks face FX volatility on bail-in ratios
Use of funding in foreign currencies creates new risk, especially in non-eurozone countries
Platform volumes dip in April, FastMatch breaks trend
As volatility dampens in April, FX volumes tick lower
Ficc revenues bounce off lows but still down
European banks bounce off lows in Ficc revenues in the first quarter of the 2018, but year-on-year earnings remain negative
Former Wells Fargo FX trading head sues for wrongful termination
Simon Fowles claims he was fired days before he intended to alert regulators of a payment-incentive plan that fostered greed
Cboe Sef adds more currency pairs
The platform offers NDF trading in USD/RUB and USD/PEN
FX volumes dip in March
But trading activity on most platforms remains strong year on year
JP Morgan dominates G10 FX revenues for 2017 – survey
Coalition’s investment banking survey shows the US dealer garnering the highest revenues in the space; HSBC jumps to second place
Antitrust attorneys prepare to depose UK traders
Despite the court extending a partial stay on depositions until June 8, lawyers have been granted access to interview some UK-based people
Salmon exits GFXC and BoE for private-sector opportunity
Federal Reserve Bank of New York’s Simon Potter will act as interim chair with immediate effect
Antitrust claims deadline extended to May 16
Investors seeking to receive part of the $2bn-plus settlement have two more months to file a claim as the deadline is pushed back from March 22
European banks see Ficc revenues slip in 2017
In contrast to robust trading activity in 2016, Ficc trading fell across the board
Apac investment bank revenues at five-year low
Australasia was the best performing region across Apac in 2017, with Ficc and equities revenues remaining stable
FCA: TCA ‘unlikely’ to fall under research
Third-party transaction cost analysis fees will be difficult to include in the spread if they do not count as research costs
Ficc revenues tank at US banks
Revenues were dampened by low volatility throughout most of 2017, among other factors
IA calls for more last look disclosures
Investment Association says venues must take more responsibility for monitoring behaviour and LP adherence to FX Global Code