Foreign Exchange

Mandatory FX clearing in the US not an immediate priority

New International Swaps and Derivatives Association chief executive Scott O’Malia believes FX clearing mandates in the US have been moved down the pecking order due to concerns over the ramifications of such rules.

ICAP targets data services for growth

Interdealer broker ICAP believes significant opportunities exist to grow its business in the market data and benchmarking space.

TESI extended to include FX trades

FIX Trading Community today announced it has extended the Trading Enablement Standard Initiative to include foreign exchange client enablement.

Cautious trading helps banks limit FICC losses

Investment bank fixed income revenues have fallen by less than expected in the second quarter of 2014, with a shift towards more liquid products helping to improve their profitability.

ITG debuts FX liquidity-cost index

As part of its recent push into transaction cost benchmarking, agency brokerage ITG has launched a new index for the FX spot market.

TriOptima success masks ICAP’s revenue drop

ICAP’s post-trade and risk management arm, TriOptima, has seen double-digit revenue growth over the past three months, where the firm’s other operations have fallen.

Japan Exchange makes way for RMB-denominated products

Japan Exchange Group has signed a memorandum of understanding with Bank of China Limited, outlining intentions to develop a Renminbi-denominated financial instruments market in Japan.