Tullett Completes $1.6 Billion Deal for Icap Brokers

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Tullett Completes $1.6 Billion Deal for Icap Brokers – Bloomberg

Tullett Prebon has completed the 1.28-billion-pound ($1.6 billion) purchase of the voice-broker business of its former rival Icap, creating a dominant firm in the business of matching trades between banks.

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FXPA Finishes Busy 2016, Prepares for 2017

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FXPA Finishes Busy 2016, Prepares for 2017 – FXPA

The Foreign Exchange Professionals Association (FXPA) is finishing 2016 with a lot of work in progress and, as evidenced by recent requests for its insights, has further established its reputation as a trusted resource for policymakers. Launched in September 2014, FXPA welcomed six new members to the FX trade association during 2016, bringing the diverse organization’s membership up to 25 banks, buy side firms, trading platforms, clearinghouses, exchanges and technology companies.

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Australian Banks Sanctioned by Regulator Over FX Conduct

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Australian Banks Sanctioned by Regulator Over FX Conduct – Bloomberg

Two of Australia’s largest banks vowed to toughen oversight of their foreign-exchange practices and each pay A$2.5 million ($1.8 million) to the nation’s financial literacy fund after a regulator found inappropriate conduct in their currency trading divisions.

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Dollar Climbs as Attacks Subdue Euro, BOJ Saps Yen

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Dollar Climbs as Attacks Subdue Euro, BOJ Saps Yen – Reuters

The dollar climbed back towards a 14-year high as the yen fell after the Bank of Japan held policy steady and fallout from attacks in Germany and Turkey subdued the euro.

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London FX Volume Falls 12 Percent to $2.41 Trillion a Day Average

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London FX Volume Falls 12 Percent to $2.41 Trillion a Day Average – Reuters

Foreign exchange trading out of London has fallen 12 percent over the last three years to an average $2.41 trillion (2 trillion pounds) a day, driven by a fall in spot market and hedge fund activity, the Bank of England said.

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