Lab49 is pleased to announce its involvement as a partner in the development of the UBS Neo platform A press release issued by UBS on Monday revealed they are working with Lab49 on their next generation single bank platform. We mentioned in a posting earlier today how British financial services companies are committed to investment…
Read moreInternational law makers issue report on cross-border issues on OTC derivatives following G20 summit during which widespread agreement was reached The European Securities and Markets Authority (ESMA) continues to demonstrate its commitment to participation in the worldwide governmental effort to ensure compatibility between all financial markets worldwide with regard to the regulatory oversight of OTC…
Read moreSwitzerland’s competition commission has launched an investigation into eight domestic and international banks The worldwide forex rigging saga marches on...Switzerland's competition commission Wettbewerbskommission known by the German-language acronym (WEKO) said on Monday it had opened an investigation into several Swiss, British and U.S. banks over potential collusion to manipulate foreign exchange rates. A preliminary investigation,…
Read moreCFH is aiming to become the leading technology provider for the Turkish Regulated FX market In a press release issued Monday, we learned CFH Clearing Limited (formerly known as CFH Markets Limited) announced ClearVision is now fully compliant with Turkish regulation. This latest technological development is a key milestone for CFH Clearing, which is aiming…
Read moreBIS Head of Banking Peter Zollner addressed the 53rd ACI Financial Markets World Congress with insight into global FX market activity The Bank for International Settlements (BIS) has today elaborated in full detail on a speech which was delivered to the 53rd ACI Financial Markets World Congress 2014 in Berlin on March 29. Peter Zollner,…
Read moreUK financial services sector set to spend further on technology over next year according to survey by CBI and Price Waterhouse Coopers The cost of operating an FX brokerage has increased significantly over recent times, however the cause of this has been largely due to the omnipresent will of global regulatory authorities to keep pace…
Read moreNew Zealand regulator launching active investigation into the currency trading market We learned on Monday that New Zealand's Commerce Commission is investigating the foreign exchange market, amid a global inquiry into alleged manipulation of currency rates. This comes on the back of an announcement by The Australian Securities and Investment Commission, when they joined the…
Read moreAfter a $439 million IPO last year, deliverable FX firm OzForex sought acquisition of British HiFX. Firm now states that this is very unlikely to proceed Deliverable FX had often been regarded as somewhat of a secondary business to that of the highly profitable electronic trading of foreign currencies via retail brokerages, until last year's…
Read moreInteresting results from recent Tibco-sponsored survey on FX trading practices In a piece by Jake Thomases in Sell-Side Technology, he notes an overview from a panel of forex practitioners which analyzed the results from a recent Tibco-sponsored survey on FX trading practices. Tibco software confirmed what we already know, that a high percentage of FX…
Read moreThe global drive among national regulators to work together toward standardizing trade clearing methodology continues, as the CFTC defers enforcement action against SGX-DC The US Commodity Futures Trading Commission's Division of Clearing and Risk (DCR) issued a time-limited no-action letter to the Singapore Exchange Derivatives Clearing Limited (SGX-DC) on Friday last week, as Singapore readies…
Read more