Swiss competition authority has fined Barclays, Citigroup, JP Morgan, RBS & MUFG a combined CHF 90 million for its role in rigging the FX spot market.
State Street, BNY Mellon and MUFG among those backing the tokenisation project aimed at transforming clearing and settlement.
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.
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.