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RMB Overtakes Yen as Fourth Largest Payments Currency Swift’s RMB Tracker shows that the China’s currency entered the top four of world payment currencies by value in August 2015, overtaking the Japanese yen and reaching a record high share of 2.79% in global payments. The use of RMB ...
CFTC Hits Deutsche Over Reporting Failures The Commodity Futures Trading Commission has fined Deutsche Bank $2.5 million for failing to properly report its swaps transactions. CFTC says that the charges, which were simultaneously brought and settled, relate to failures “from in or about January 2013 until July 2015”. The ...
CME, CFETS, Ink Cooperation Deal CME Group and the China Foreign Exchange Trading System (CFETS) have signed an agreement on cooperation to “explore opportunities and promote each other's market infrastructure and products”. The two firms say the signing of the agreement, “marks an important step ...
ParFX Adds Offshore Renminbi

12:51 September 23rd 2015 in News, Around the World

ParFX Adds Offshore Renminbi

ParFX has added offshore renminbi (CNH) as it expands the number of tradeable currencies offered on the platform. The USD/CNH pair went live on 14 September 2015 following testing, and is a result of global demand from ParFX’s founder banks ...
ACI ELAC Adopted by Two Banks

21:55 September 20th 2015 in News, Around the World

ACI ELAC Adopted by Two Banks

ACI – The Financial Markets Association says that two Swiss banks, Bank Julius Baer and Zürcher Kantonalbank, have expressed an interest in being first adopters of the ACI e-Learning and Certification Portal (ELAC). ELAC supports full compliance to ACI’s ...
Scots Cloud Computing Firm Acquires Chicago Futures Hosting Company Beeks Financial Cloud has bought Chicago-based futures specialist VDIware for an undisclosed seven-figure sum. “Our aim is to become a cross-asset-class financial markets hosting specialist for the foreign exchange, futures, and equities markets,” says Beeks Financial Cloud CEO, Gordon McArthur.  ...
Ruling on Stimpson Case to Be Given Within Two Weeks The tribunal hearing of Perry Stimpson, the former G10 FX trader at Citi who is suing the bank for unfair dismissal, came to an end on Thursday with Judge Alison Russell saying that she anticipates giving her judgement on the ...
Around the World

08:59 September 17th 2015 in News, Around the World

Around the World

New strategies and a great charity day… KRX Adds Strategy Indices Korea Exchange has introduced two Kosdaq 150 strategy Indices and 10 currency derivative strategy indices. These indices are developed to provide various investment tools in Kosdaq and currency derivative markets and ...
FXCM Completes Sale of FXCM Asia FXCM has completed its sale of FXCM Asia, an online provider of foreign exchange trading in Hong Kong, to Rakuten Securities for approximately $38 million. Rakuten Securities, the brokerage arm of Japanese Internet and e-commerce group Rakuten, will continue to service ...
CFTC Launches New Tool to Help Prevent Illegal Trading The Commodity Futures Trading Commission (CFTC) has launched a new tool called “RED List” to help investors identify unregistered foreign entities that may be engaged in illegal practices. The RED List, which stands for Registration Deficient List, identifies unregistered foreign ...