Despite buy-side citing use of transaction cost analysis (TCA) as a larger focus post-MiFID II, Citi's market structure head for EMEA says the bank is actually seeing the converse in action.
The FCA hands UBS largest MiFID transaction reporting fine to date after more than 130 million reports were found to be inaccurate.
Citi joins UBS in setting up its eFX trading hub in Singapore with support from the Monetary Authority in Singapore.
Nigel Fenn joins BTIG focusing on block trading across various markets after more than a decade with UBS in a similar role.
UBS investment banking president Andrea Orcel will no longer take on the role of CEO at Santander due to compensation concerns.
Following news of major US players looking to establish a member-owned equities exchange, industry experts agree the move could prove to be positive for markets, but warn the road ahead for MEMX may be a difficult one.
Morgan Stanley, Virtu Financial, Citadel Securities, UBS and Fidelity Investments are among the firms looking to establish a low-cost, transparent equities exchange.
UBS will act as intermediary for smaller firms with limited bilateral credit and relationships on Cboe FX.
James Rubinstein has been appointed head of electronic equities for the Americas region at Deutsche Bank in New York.
Andrea Orcel will join Santander as CEO in early 2019, as UBS names Piero Novelli and Robert Karofsky co-presidents of the investment bank.