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Nightberg to Provide Market Strategy Service to GTX Clients GTX and Nightberg, an independent macro strategy firm founded by former hedge fund strategists, are partnering to distribute Nightberg’s full suite of investment research to GTX's institutional clients. The product will be provided on a complimentary basis to clients of GTX’s registered swap dealer, which offers agency execution services for swaps, options, forwards, non-deliverable forwards and other products in G10 and emerging market currencies. “We are excited to work with GTX to provide flexible access to our investment research,” says Mario Manna, co-founder of Nightberg. “Both Nightberg and GTX are active in the global macro hedge fund and broader asset manager space and we see an excellent opportunity to work together to provide value to clients.”
Platforms Suffer Mense Horribilis Most FX major trading venues will be glad to see the back of August – following the downbeat results from FastMatch and Hotspot, four other venues have reported a decline in volumes – two registering historic lows and a third the lowest in seven years. The numbers add up to a horrible month for the platforms and, by association, for the wider foreign exchange industry as activity levels continue to dive following June’s Brexit-inspired spike, most will be hoping for a forex rebound in September.
Spot Volumes Offer Mixed News for Platforms The BIS Triennial survey highlights the drop in spot volumes, but how does the platforms' performance compare over the same period?
August Reporting Off to a Gloomy Start for Platforms Three FX platform providers have reported lower volumes for the second consecutive month, highlighting the difficult nature of the market in August.
CFTC Piles in on FXCM over January 15 Even as FXCM continues to extricate it from a punitive loan that saved the firm, its travails are increasing with news the US Commodity Futures Trading Commission (CFTC) has charged the firm over events surrounding its near collapse in the ...
Tullett Prebon, GMEX Group to Develop Hybrid FX Options Platform Tullett Prebon has partnered with technology provider GMEX Group to develop a hybrid voice and electronic trading platform for FX options. The new trading solution will enhance Tullett Prebon’s offering to its clients, integrating GMEX’s request for quote (...
EBS Volumes up 1% YoY in July, but Fall 15% MoM ICAP’s EBS average daily volumes (ADV) were up 1% year on year in July, standing at $83 billion. Nevertheless, volumes saw a sharp drop on a month on month basis in July, being down by 15% compared to June, ICAP reports. The ...
EBS BrokerTec Hires Americas Head for New FI Service Nicole Shumpert has joined EBS BrokerTec as head of BrokerTec Direct, Americas, the company says. BrokerTec Direct is a new service that provides relationship-based, disclosed liquidity to the fixed income market. Shumpert was previously director and head of US Treasuries ...
Getting Ahead of Client Demands As client requirements evolve in response to changes in FX market structure, services providers need to be ready to adapt to these new demands, said panelists at Profit & Loss Forex Network Toronto conference last month. Liquidity has been a big ...
Icap CEO “Cautiously Optimistic” Despite Macro Uncertainty Michael Spencer, the group CEO of Icap, claimed to be “cautiously optimistic” about his firms’ future prospects despite heightened uncertainty surrounding the macroeconomic outlook for the UK and the global economy. In a trading statement for the period April 1 2016 to ...