BT and Flexenet Launch Partnership BT officials can now offer Flexenet Private Wires connectivity “fully integrated with its BT Trading unified communications and collaboration (UCC) platform” via a new partnership between BT and Flexenet. Officials from both companies report that the new partnership is intended to provide clients with more options for cloud-based trading floor… Read More >>
Q&A: Can DLT Help Advance FX Forward Contracts?
(This past December, Symbiont collaborated with State Street Corp. and Vanguard on a live test of a margin calculation process that is central to the transaction of a 30-day, foreign exchange forward contract. At the heart of the transaction was Symbiont’s distributed ledger technology (DLT) platform Assembly, which has been the focus of the trio… Read More >>
Avoiding Scams That Steal Your Heart & Money
Just in time for Valentine’s Day, the CFTC has issued a Customer Advisory that is meant to serve as a warning for people who use online dating and social media platforms but get pulled into scams where they send money to “fraudulent websites that claim to trade foreign currency exchange (forex) contracts, precious metals contracts,… Read More >>
Equiti to Use FlexTrade’s FX Platform MaxxTrader
MaxxTrader to Bolster Equiti’s Prime Services Equiti, an online trading technology provider, will be using the MaxxTrader foreign exchange platform from FlexTrade Systems as the basis for its prime of prime services offering, officials say. MaxxTrader will help Equiti provide its prime of prime customers with “global FX liquidity aggregation, trade execution management, and institutional… Read More >>
Bank of Ireland to Hire 130 Technologists
New Staff Tasked to Deliver a Digital Transformation Officials at the Bank of Ireland recently announced that they have begun recruiting to fill 130 technology positions whose mission will be to deliver on an “ambitious digital agenda.” Part of that digital agenda is likely to include support for the bank’s securities trading activities even… Read More >>
CFTC Scores Default Judgment Against Alleged FX Fraudster
An alleged foreign exchange (FX) currency investment fraudster and his defunct investment company are now facing a default judgment in the Northern District of Georgia for “failing to plead or otherwise defend” against the U.S. Commodity Futures Trading Commission’s allegation that they “fraudulently solicited and misappropriated nearly $700,000 from more than 50 clients in a… Read More >>
SWIFT Says FX Ops Needs ISO 20022
Financial services messaging consortium SWIFT is calling for the increased automation of foreign exchange (FX) transactions via more standards that will ease data exchanges and will facilitate the nirvana of straight through processing (STP). “By removing barriers to exchange, standards always increase the amount of business done,” according to “The Value of Standards in the… Read More >>
Five Banks Settle FX Cartel Charges for $1.19B
The European Commission (EC) stunned the foreign exchange (FX) world with the news yesterday that five major banks — Barclays, the Royal Bank of Scotland (RBS), Citigroup, JPMorgan, and Mitsubishi UFJ Financial Group (MUFG) — have been fined a total of €1.07 billion ($1.19 billion) on charges that they took part in cartels that monopolized… Read More >>
Buy Side Can Access Fenics UST via QuantHouse
New API & QuantLink Access via QuantHouse QuantHouse, a provider of market data services, an algo trading platform and infrastructure solutions, can now offer its buy-side clients “quick and streamlined access to normalized real-time and historical data to trade the U.S. cash treasuries market” via a new link to the Fenics USTreasuries platform. The… Read More >>
HSBC Uses DLT to Internally Settle FX Transactions
HSBC has been using distributed ledger technology (DLT) internally to settle more than three million foreign exchange (FX) transactions and to make more than 150,000 payments worth $250 billion, signaling that many of the industry’s DLT explorations will start to show results in 2019 especially for operations where the technology is a good fit. “This… Read More >>
