Hugh Stevens has joined Wells Fargo as head of electronic foreign exchange trading for Europe, the Middle East and Africa (Emea). Stevens previously spent over seven years at Standard Chartered in London and New York, most recently as head of e-FX trading for the Americas. He reports to Chad Berner, head of electronic and G1O […]
It’s 2025 and you attend another foreign exchange industry conference where, unsurprisingly, the hot topics remain familiar: data-driven FX, streaming swaps, workflow automation, the ‘electronification’ of liquidity, debates on what AI means for our jobs, algo evaluation, and fully automated trade workflows. You return to the office, only to have a conversation with a bank
Within ING’s foreign exchange business, a special algorithm has the job of looking out for signals that might indicate an abrupt, unexpected shift in the market, and adjusting the bank’s prices accordingly. On July 16, that algo had to earn its corn: reports spread that US president Donald Trump was planning to fire the chair
As developed countries continue to rack up deficits, the big question looming over markets is, who will buy the growing pile of sovereign debt? Hossein Zaimi, global head of macro at Barclays, doesn’t have the answer, but he is pretty sure the prevailing view in financial and government circles is wrong. “The sustainability of the
One question we’ve been discussing on the reporting desk lately is the difference between US president Donald Trump’s impact on the foreign exchange markets in his current term compared with his first. Take yourself back eight years and there are some parallels. For example, Trump’s frequent, unpredictable tweets about US trade policy with China in
It’s a known but unproven assumption that predatory trading during the 4pm London time fixing window for benchmark currency rates – mostly from high-speed hedge funds and prop desks – can lead to worse prices for clients. What’s less clear is what to do about it. A new paper, jointly authored by Deutsche Bank’s Roel Oomen
CME boosts FX access via new vendor partnerships – FX Markets Skip to main content End of drawer navigation content Tie-ups with Trading Technologies and Integral to bring new liquidity into EBS and Spot+ venues CME Group is establishing ties with key vendors to expand the distribution of primary market foreign exchange liquidity from EBS
In the first half of 2025, the combination of US tariff announcements and fiscal and monetary policy uncertainty led to volatility in foreign exchange markets not seen since early 2020. During this period, FX central limit order books (Clobs) proved vital to traders for managing their risk, providing market transparency, deep liquidity and execution reliability,
Crackdown on FX vendors could raise costs for dealers – FX Markets Skip to main content End of drawer navigation content MTF designation could cost aggregators and EMSs $3m to set up and $1m in annual maintenance Vendors that must register as multilateral trading facilities (MTFs) may end up passing increased regulatory costs on to
BNP Paribas is planning to selectively expand its white-labelling programme to give more regional banks and their clients access to its spot foreign exchange execution algorithms. Earlier this month, BNP Paribas struck its first algo white label partnership with Lloyds, whereby corporate and financial institution clients of the UK bank can now use its three
Kevin Kimmel, the global head of electronic foreign exchange at Citadel Securities, has left the firm, according to sources familiar with the matter. Kimmel leaves after 11 years at Citadel. Most recently, he ran the firm’s currency trading business, which ranks as a top three market maker across major spot and futures venues. Kimmel was
It takes a market-wide crisis to know how stable the underlying pipework is that supports it. In the $7.5 trillion foreign exchange market, the measure of its stability is liquidity. This was put to the test last month, as intraday volatility triggered by president Donald Trump’s tariff announcements on April 2 resulted in an explosion
Having a stable of high-end trading platforms can be a blessing – and a curse. And while experience and familiarity are valuable, legacy systems eventually start to creak and crawl. Around 2019, State Street realised it had a problem as it looked to build upon and expand its suite of foreign exchange and cash solutions.
FX options venue SpectrAxe has hired Robert Schultz as chief operating officer for the Americas, effective April 21. Schultz joins from Deutsche Bank where he worked for more than 12 years, most recently serving as a product manager and vice president in FX prime brokerage and algo trading. In his new role, Schultz is tasked
FX liquidity ‘worse than Covid’ amid tariff volatility, dealers say – FX Markets End of drawer navigation content Skip to main content Available liquidity for single clips dropped to as low as $20 million ahead of tariff pause Liquidity conditions in the global spot foreign exchange markets have been strained since US President Donald Trump
A new foreign exchange swaps venue that gives voice trading desks the ability to match interest with e-books run by some of the biggest dealers could mark a significant step forward in the electronification of the interdealer market, its founders say. FXswapX, a dark matching platform built by Fintech incubator FastFin Labs, utilises a technology
Dealers bullish on Bloomberg chat interface for FX markets – FX Markets End of drawer navigation content Skip to main content Service expanded its API offering to integrate broker chats into banks’ engines for cash FX pricing late last year Bank trading desks are optimistic that initiatives by Bloomberg to open its chat application programming
