Concannon Ready to Create Price War in FX to Make Hotspot Leading ECN – Profit & Loss (free story)
Hotspot plans to increase competition in the FX markets by creating a price war, Chris Concannon, president and CEO of BATS, said of the recently acquired FX platform.
Hotspot Sees 10% Drop in ADV FX Volumes for April – Profit & Loss (free story)
Hotspot, recently acquired by BATS Global Markets, has seen a month-on-month drop in average daily notional FX volume of 10.3% for April, compared with a month-on-month increase of 17% in March.
Citi CEO’s Pay Cut by 10% Over FX Rigging – Profit & Loss (free story)
Citi has cut chief executive Michael Corbat’s 2014 compensation package due to his failure in stopping FX traders from participating in currency market manipulation, according to chairman Michael O’Neill.
Goldman Leads Investment Round in Bitcoin – Profit & Loss (free story)
Goldman Sachs and China-based IDG Capital Partners have co-led a $50 million investment round for Bitcoin payment firm, Circle Internet Financial.
CME Group Suspends Two Gold Futures Traders for Allegedly Spoofing – Reuters
CME Group on Thursday suspended two traders from its markets for allegedly colluding to enter orders repeatedly with no intention of trading, a strategy that has been fingered as a key contributor to the 2010 Wall Street flash crash.
Lift-off for ASX Aussie Dollar Swap Clearing Business – Asia Risk (subscription)
ASX has seen a sharp increase in the volume of its Australian dollar over-the-counter interest rate swap clearing business in the first three months of 2015 with monthly notionals in this period six times higher than before it introduced a revamped clearing incentive scheme, and sixty times larger than in August.