As regulatory change continues to take hold of banks’ profits, clearing fee structures for buy-side firms are estimated to increase this year to deliver 14-15% return on capital, up from the current 1-2%, argues consultancy firm Catalyst.
The strength of Sterling wiped out revenue gains at trading group Fidessa in 2014, resulting in a £4 million drop in revenue in 2014, compared to the previous year, it announced today.
ConvergEx’s head of trading for EMEA, Jason Rand, has left the business, a ConvergEx spokesperson has confirmed.
A former managing director at Goldman Sachs is to join the foreign exchange trading business founded by BarCap’s former e-FX trading boss, David Cooney.
US-based agency broker JonesTrading is opening an office in London to pioneer its European expansion.
Interdealer broker Tradition has hired three senior executives to bolster its expansion drive in 2015.
Nasdaq OMX Group blamed unfavourable foreign exchange rate movements for impacting net revenues in three of its four major business lines in the fourth quarter of 2014, compared to a year earlier.
Deutsche Bank has declared a 19.5% rise in net revenue from its Corporate Banking & Securities business for the fourth quarter of 2014, up from €2.5 billion to just under €3 billion compared to 2013.
The former chief executive and compliance officer of interdealer broker Martin Brokers (UK) have been fined a collective £315,000 by the UK's Financial Conduct Authority.