First Trades Through on R5FX – Profit & Loss (free story)
R5FX, the marketplace for local market FX trading, has announced the successful completion of its first Brazil, Russia, India and China (BRIC) trades. The London fintech start-up says it is now in beta testing, prior to launch later this year.
Thomson Reuters SEF Receives Certification from ForexClear – Profit & Loss(free story)
Thomson Reuters’ swap execution facility has completed certification testing for FX non-deliverable forwards clearing by LCH.Clearnet’s ForexClear service in anticipation of an industry move towards voluntary clearing of NDFs.
Brevan Howard Abandons Geneva and Returns to London – Financial Times(subscription)
Brevan Howard is moving some of its most senior traders back to London from Geneva, reversing a high-profile decision by the $27 billion hedge fund to leave the UK and bucking concerns that the City’s status as Europe’s leading hub for the industry was under threat.
Volumes Up at Thomson Reuters and Gain – Profit & Loss (free story)
Spot FX volumes on Thomson Reuters’ FX platforms was $108 billion per day in June, down slightly from May’s $110 billion, however overall activity was higher.