State Street’s GlobalLink Joins FXPA
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State Street’s GlobalLink Joins FXPA – FXPA
The Foreign Exchange Professionals Association is pleased to announce the addition of GlobalLink, State Street’s suite of e-trading platforms, technology, data and workflow solutions.
Read MoreState Street’s GlobalLink Joins FXPA
The Foreign Exchange Professionals Association (FXPA) is pleased to announce the addition of GlobalLink, State Street’s suite of e-trading platforms, technology, data and workflow solutions.
“GlobalLink is very pleased to join the FXPA where, as representatives for the Currenex and FX Connect platforms, we look forward to contributing to the dialogue with global regulators and policymakers that the FXPA engages in driving the evolution of the FX market structure for the benefit of all participants,” said David Newns, head of Execution Services for GlobalLink.
“FXPA’s diverse membership puts us in a strong position to represent the views of the FX industry in a unique capacity. We welcome the addition of State Street GlobalLink as our newest member and look forward to their input on a variety of important topics as we seek to advocate, inform and educate around key FX market structure issues,” says FXPA Chair, Lisa Shemie.
To find out how you can support the FX industry through education, research and advocacy, visit our website at www.fxpa.wpengine.com, become an institutional member, and sign up for our newsletter, FXPA globalFXsource.
The Foreign Exchange Professionals Association (“FXPA”) is a Washington-based organization that represents the collective interests of professional foreign exchange industry participants. The group is designed to engage key regulators and policymakers through education, research, and advocacy, with the goal of advancing a sound, liquid, transparent and competitive global currency market. See more at www.fxpa.wpengine.com
FXPA to Host Presentation on Front-Running, Pre-Hedging in NYC
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FXPA to Host Presentation on Front-Running, Pre-Hedging in NYC
The Foreign Exchange Professionals Association (FXPA) will hold a special presentation by the law firm Clifford Chance on the recent prosecutions that centered on issues relating to front-running and pre-hedging in the FX industry. The event takes place on July 9th and is hosted by FXPA Founders Council Member, Cboe Global Markets, at their offices in downtown Manhattan.
Read MoreCFTC Chair Complains to European Commission Over Regulation Jibe
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CFTC Chair Complains to European Commission Over Regulation Jibe – Financial Times (subscription)
Christopher Giancarlo, chair of the Commodity Futures Trading Commission, wrote last week to Valdis Dombrovskis, the European Commission vice president responsible for financial services, to publicly criticise comments made by Patrick Pearson, head of unit, financial markets infrastructure at the commission, at an event in London. Mr Pearson had said the US “fell for” an agreement it had struck with the EU in March in which they emphasised the need to trust local regulators and for sustained dialogue.
Read MoreWhat ‘Highly Unusual’ Markets Are Watching Into the Fed Decision
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What ‘Highly Unusual’ Markets Are Watching Into the Fed Decision – Bloomberg (subscription)
Wednesday’s Federal Reserve rate decision, set to be announced at 2pm New York time, carries more wild cards than most. While market participants don’t expect a rate cut this time around, they do see lower rates this year.
Read MoreCiti to Combine Rates, FX in Paco Ybarra’s First Major Reshuffle
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Citi to Combine Rates, FX in Paco Ybarra’s First Major Reshuffle – Bloomberg (subscription)
Citigroup is combining its foreign exchange and rates businesses into a single unit, two months after Paco Ybarra took over as head of the institutional-clients group. Itay Tuchman will continue to lead the currencies business, while Deirdre Dunn and Pedro Goldbaum will co-lead the rates businesses.
Read MoreBanks Accused of Overcharging Small Customers for Forex Services
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Banks Accused of Overcharging Small Customers for Forex Services – Financial Times (subscription)
Banks across Europe earn hundreds of millions of euros a year from overcharging small corporate customers for foreign exchange services, according to a new paper from the European Central Bank.
Read MoreECB Pushes Euro in Move Against Dollar’s Dominance
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ECB Pushes Euro in Move Against Dollar’s Dominance – Financial Times (subscription)
The European Central Bank has joined Brussels in a push to promote the euro internationally as it attempts to counter the US-led retreat from globalisation and free markets.
Read MoreWall Street Sound Trading Slowdown Alarm
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Wall Street Sound Trading Slowdown Alarm – Bloomberg TV
Wall Street executives continue to sound the warning bell over a trading slowdown. Morgan Stanley CEO James Gorman says that he would be “very surprised” if the investment bank beats its first-quarter results after a tough start in June.
Read MoreFX Survey 2019: JP Morgan Retains its Lead; Deutsche Bank is Back in Business
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FX
Survey 2019: JP Morgan Retains its Lead; Deutsche Bank is Back in Business – Euromoney
This year, Deutsche Bank’s FX business is back at number two, confirming
the faith the bank’s beleaguered senior management has expressed in it as an
area of core strength. Admittedly, its share was not enough to unseat JP Morgan,
which, for the second year running has won the survey, but the gap from JPM to
runner up is now only 1.4%.