Foreign Exchange

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

Markit has launched a comprehensive service for electronic trade confirmation and exercise management for the FX options market.

ICAP’s FX electronic spot trading business, EBS, has hired Paul Allmark as global head of e-commerce solutions, reporting directly to EBS CEO Gil Mandelzis.

Exchange operator and technology provider Nasdaq OMX has extended its SMARTS surveillance solutions suite to the foreign exchange market.

Efforts by the Financial Conduct Authority to reform how institutional investors pay for research and execution services have been praised following last week’s policy statement by the UK regulator.

The European Parliament passed updated rules for the Markets in Financial Instruments Directive, dubbed MiFID II, last night.

Thomson Reuters has proposed an update to its matching rule book, setting higher industry standards in FX trading.

Citi and JP Morgan have joined ParFX, the wholesale spot FX electronic trading platform launched in April 2013 by inter-dealer broker Tradition.

Buy-side firms are increasing their use of transaction cost analysis in the FX market to improve alpha generation, according to a report from consultancy Aite Group.