Flash crashes are becoming a fact of life in late-night currency trading, and while regulators are poring over what lies beneath them, bankers say the changing structure of the industry means further slip-ups are inevitable.
In recent years, large exchange groups have been lining up to buy OTC FX platforms. But in this game of musical chairs, what happens to the venues without a buyer when the music stops?
A group of Wall Street banks and fund managers are finalising fixes to mend the $8.2tn credit derivatives market, hoping to prevent controversial trading strategies that shook the integrity of the market last year.
The US and China are edging closer to resolving differences on currencies that have bogged down economic talks for nearly two decades. The only question is how meaningful the deal will be.
The Bank for International Settlements cited recent volatility as another instance of the “extraordinarily tight” relationship between policy makers and financial markets that it has questioned in the past.
The UK should expect “significant market volatility” in the event of a no-deal Brexit, even though the financial system is equipped to survive a worst-case scenario, the Bank of England has warned, announcing the launch of weekly auctions of euros to ensure banks do not run out of cash.
Progressive Democrats renewed their push to curb high-frequency trading, introducing a bill Tuesday that would impose a 0.1% tax on financial transactions such as stock purchases and derivatives trades.
While MiFID II is a European mandate, it has driven global buy-side firms to attempt to unbundle their research bills in the US and beyond.
The way Singapore’s swap rate is calculated must change if Libor disappears after 2021.
The blockchain analysis space is heating up. The demand for blockchain analysis firms has been growing sharply as they are becoming absolutely necessary in order for businesses dealing with cryptocurrencies to remain compliant with strict AML and KYC obligations.
Jennifer Campbell and Greg Tusar, Tagomi Holdings co-chief executive officers, discuss the digital asset brokerage’s market infrastructure for crypto trading.
SIX Swiss Exchange, Switzerland’s largest stock exchange, just launched an Ethereum-backed exchange-traded product . This comes one week after SIX announced the launch of its Bitcoin-backed ETP.
Robbert Sijbrandij, head of FX at Flow Traders, talks about why he thinks there’s still room for more non-bank liquidity providers in the FX market.
For platforms looking to differentiate on the speed of their technology the equation is measured in the scale of the challenge rather than the opportunity. As David Mercer, CEO of LMAX Exchange observes, “You can’t differentiate on speed, but you have to keep in line with the best in the market – and that means cost.”
Last year “began with a bang” for Currenex and FX Connect due to the implementation of MiFID II, according to David Newns, global head of Global Link Execution Services at State Street, which owns both platforms.
Credit Suisse has picked an 18-year veteran of the Swiss bank to lead electronic trading in Europe, where new regulations have increased competition among brokers in the battle for fund managers’ business.
FIA’s president and CEO Walt Lukken announces the appointments of Jacqueline Mesa as chief operating officer and Emma Davey as chief commercial officer of the association.
Matt Zames made a name as a Wall Street fix-it man. He helped steer JP Morgan through the “London Whale” trading debacle and was considered a possible successor to its chief, James Dimon.
French bank Société Générale has announced its bonuses, and people in its fixed income, currencies and commodities (FICC) business are in a state of shock.
Australia’s dollar fell to a two-month low on Wednesday as signs of an economic slowdown supported expectations for an interest rate cut later this year, while the Canadian dollar dropped again before the central bank’s policy decision.
The pound remained stuck near a one-week low on Wednesday with a lack of progress in Brexit talks prompting concern that a vote on Prime Minister Theresa May’s deal could be delayed.
Trading of the rupee is booming in London. And that is a challenge for the Reserve Bank of India.
Turkey’s central bank held interest rates for a fourth meeting and left its commitment to higher borrowing costs unchanged as it waits out the remaining weeks before local elections.