Top Headlines
FXPA Welcomes Colorado PERA
The Foreign Exchange Professionals Association (FXPA) is pleased to welcome three new members, including Colorado PERA (Copera). “Colorado PERA welcomes the opportunity to join FXPA and assist in its mission to foster a stronger global currency market. We believe continuing improvements in transparency, liquidity, and competitiveness can only benefit our members and the overall marketplace,” says Stephen Komon, senior portfolio manager and trader at Copera. For membership information, please contact Julie Ros at jros@fxpa.org
FXPA News: Join by 1 Feb to Qualify for Time-Limited Membership Category
The special founding member category of the Foreign Exchange Professionals Association (FXPA) will close on 1 February. Join today to be part of the first wave of founding members that enjoy the distinct benefits that this class offers. FXPA recently crossed the critical threshold of 15 members, triggering elections for the first permanent Board of Directors and Officers. FXPA’s Board will include 50% representation by Founding Members that join prior to the 1 February deadline.
LSE to Put Russell Investments Up for Sale for £923 Million – Reuters
The London Stock Exchange Group (LSE) plans to put Russell Investments up for sale in mid-February and hopes to fetch around $1.4 billion (£923 million) for the unit, two sources told Reuters.
Denmark Cuts Deposit Rate for Third Time in 10 Days to Defend Currency Peg – Bloomberg
Even after delivering its third rate cut in 10 days, Denmark probably hasn’t done enough to fight back investors eager to hold krone-denominated assets. Svenska Handelsbanken, Danske Bank and BNP Paribas all say the central bank in Copenhagen may need to continue cutting rates to defend its currency’s peg to the euro.
Thomson Reuters Rethinks FX Speed Bump – Financial News (subscription)
Thomson Reuters may delay the introduction of a speed bump on its flagship foreign exchange matching platform, a concept employed by rivals such as IEX to curtail the advantage of high-frequency traders.
Retail Landscape Continues to Shift Following SNB Move – Profit & Loss(subscription)
The fallout from the Swiss National Bank’s (SNB) decision to drop the EUR/CHF peg is continuing in the retail FX market, as a further two brokers cease trading, more losses are reported and firms consider purchasing their damaged competitors’ businesses.
Investment Firms Emboldened by Swiss Franc Surprise – Financial News(subscription)
On the heels of the surprise surge of the Swiss franc, some big investors are betting they’ve uncovered the next billion-dollar trade: wagering against currencies in far-flung locales such as Saudi Arabia and the United Arab Emirates. Others are anticipating a spike for Denmark’s currency.
RBI Urges Companies to Hedge FX Exposure – Reuters
The RBI is making extra efforts to spur the country’s corporates to more actively hedge their foreign exchange exposure, in order to fortify the country’s defences against any risk of currency turmoil.
BSE Slashes Fees in FX Derivatives Battle with NSE – Reuters
India’s oldest stock market operator, BSE, is slashing fees to gain ground in new markets, turning currency derivatives into the latest battleground in its long-standing rivalry with the younger but larger National Stock Exchange. |