The push for shorter settlement cycles — trading day plus one, or T+1 — could pose major settlement and operational risks for buy-side participants in foreign exchange (FX) markets, according to guidance from the Foreign Exchange Professionals Association (FXPA), based in Washington, D.C. “The introduction of T+1 is not intended to increase FX settlement risk…. Read More >>
CME’s Eurodollar Options Floor to Reopen in August
CME to Add Safety Measures to Options Floor CME Group reports that it will reopen its Eurodollar options trading pit on August 10, 2020. In advance of that reopening date, the company intends to “reconfigure the pit to meet social distancing standards and put additional safety measures in place,” CME officials say in a statement. “All… Read More >>
Finastra Acquires Olfa Soft to Complete eFX Trading Suite
Finastra is adding Olfa Soft’s electronic foreign exchange (FX) trading platform Seamless FX to its portfolio of treasury transaction offerings as a result of a recently announced acquisition. The Geneva, Switzerland-based Olfa Soft offers trading platform design and integration services to facilitate uninterrupted FX services, officials say. “As FX markets become more competitive with trading… Read More >>
BNP Paribas USA Pleads Guilty to FX Price-Fixing
Officials of the U.S. Justice Department and BNP Paribas USA Inc. (BNPP USA) have settled a case in which the subsidiary of BNP Paribas is pleading guilty to one count of price-fixing via foreign exchange (FX) markets and has agreed to pay a criminal fine of $90 million. According to documents filed recently with the… Read More >>
NEX Group Launches PIVOT for Collateral Management
Financial technology company NEX Group has launched PIVOT, a tool for cash and collateral management, and treasury and portfolio finance functions that connects NEX’s ENSO Core platform to NEX Treasury, a cash and foreign exchange (FX) liquidity management hub. ENSO Core is described as a treasury, counterparty risk and portfolio financing workflow platform that helps… Read More >>
CloudMargin Launches “FlightPlan” for Uncleared Margin Regs
CloudMargin Site Features Interactive Tools CloudMargin, a London-based vendor of web-based collateral and margin management solutions, has just launched what it says is an interactive “FlightPlan” microsite to help firms “navigate the uncleared margin rules and other regulations impacting their collateral management function,” officials say. The microsite, designed by Eight Arms, offers interactive digital tools… Read More >>
Electronic Trading Jolts FX Markets to Change
The foreign exchange (FX) markets have undergone significant transformation with electronic platforms comprising a greater share of activity. However, the nature of trading has also changed and venues will have to up their game if they want to attract and retain a growing and diverse group of market participants, according to a new report, “FX… Read More >>
