Author Archives: Paul Blank

About Paul Blank

A career working in financial markets. Early career as an FX Trader, before moving on to e-Trading platforms and Fin-Tech solution providers. This blog looks at how evolving regulatory landscape impacts market participants across the capital markets, e-trading platforms/venues.

EuroMoney 2018 FX Survey…Go XTX!

EuroMoney 2018 FX survey results released this week show JPMorgan are for the first time #1 in FX, but the real story is the absolutely astonishing performance from XTX Markets, now ranked #3 in global FX. XTX Markets are the … Continue reading

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Major platforms see increases in Feb volumes

All the major FX platforms have now reported their Feb 18 vols, with SpotStream leading the way up 10% to a new all time record of $28.8bn/day, whilst HotSpot also recorded a new all time record of $44.2bn/day. Reuters Spot … Continue reading

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Major platforms deliver strong Jan volumes

All the major FX platforms I track reported strong Jan 18 vols, lead by EBS up a whopping 58% to $93.2bn/day (up from $65.5bn/day in Dec). Both Hotspot (now owned by CBOE) and SpotStream hitting new all time high volumes. … Continue reading

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Results of Oct 17 Semi Annual FX Surveys

Latest semi-annual FX survey data from top central banks (FX Joint Standing Committees) show that in Oct 17 FX average daily vols (ADVs) for the top six FX centres was $4.28tn/day, an drop of –6.2% from Apr 17, although up +3.4% year … Continue reading

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Global FX code ‘Last-Look’ (Principal 17) updated.

As mentioned previously, The Global Foreign Exchange Committee (GFXC), has updated their guidance around ‘trading in the last-look window’ – Principal 17 of the Global Code of Conduct, as a result of market feedback. The previous version of the code included the … Continue reading

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Credit Suisse fined $135m for FX abuse

The New York State Department of Financial Services (DFS), has fined Credit Suisse $135m for ‘Unsafe, Unsound and Improper Conduct’. The transcript of the order makes for depressing reading, when we see the extent of the improper conduct and abuse of … Continue reading

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GFXC to change Principal 17 (Trading in last-look window) after market feedback

In last week’s post, we looked at the feedback received from the market by the Global Foreign Exchange Committee (GFXC) to Principal 17 of the FX Global Code of Conduct, which discusses ‘trading in the last-look window’. In light of … Continue reading

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