Deutsche Bank Co-CEOs Jain and Fitschen Resign – Wall Street Journal(subscription)
The embattled co-chief executives of Deutsche Bank announced their resignations on Sunday, an abrupt move that throws into question the future direction of one of the world’s largest banks.
Thomson Reuters Adds FXall Liquidity to White-Label Product – Profit & Loss(free story)
Thomson Reuters (TR) has added liquidity from its multi-bank platform FXall to its bank-to-customer e-commerce platform, Electronic Trading, as part of key enhancements to enrich liquidity and reduce latency.
TriOptima to Expand Cross-Currency Compression Service – Profit & Loss(free story)
TriOptima, a provider of over-the-counter derivative post-trade services, has completed its first USD/KRW compression cycle via its TriReduce service, eliminating $8.8 billion notional principal. The company says 11 institutions took part in the cycle, including international and South Korean banks.
Major Changes Afoot at Jefferies Following Faros Integration – Profit & Loss(free story)
Jefferies Group, a wholly owned subsidiary of Leucadia National Corporation, is making significant changes to its FX department, marking the completion of the acquisition of Faros Trading.
Exchange Launches Asset-Backed Coins for Asset Managers – FX Week(subscription)
Abacas Asset managers will be able to trade physical assets directly with each other without incurring multiple transaction fees through a new asset class dubbed asset-backed coins (ABCs), which represent assets and currencies in one, says Morgan McDonnell, chief operating officer for Abacas, the exchange for ABCs.
Thomson Reuters Volume Up Y-o-Y, Down M-o-M – Profit & Loss (free story)
Average daily volume for spot trading across Thomson Reuters’ platforms in May was $110 billion, down from $118 billion in April but up from $103 billion in May 2014.