Last look
Singapore aims to become e-FX hub for Asia, says Loh
Speaking at FX Week Asia, MAS’s Jacqueline Loh says Singapore wants more price discovery to take place
Fotheringhame wins Barclays re-employment fight
UK tribunal orders the UK bank to re-engage David Fotheringhame in the role of director of data commercialisation
Lawyers poke Fotheringhame on last day of hearing
Issue of whether trust between Barclays and former employee has irretrievably broken down is key focus on day four
Fotheringhame battles to get job back
David Fotheringhame fights for former role at Barclays in four-day remedy hearing, months after winning unfair dismissal claim
Awards: ParFX
ParFX has been voted Best e-FX Trading Venue at the 2018 FX Week e-FX Awards
NYDFS fines Deutsche Bank $205m for FX
Fines relate to practices between 2007 and 2013, when Deutsche was the world’s largest dealer by market share
ECB and RBA warn on Global Code adherence
Representatives from the central banks tell delegates at two FX Week events the transition period is almost over
More than 100 participants commit to FX Global Code
Global Foreign Exchange Committee plans to launch Global Index of Registers before June meeting
Fotheringhame wins Barclays employment claim
Former managing director unfairly dismissed in relation to last look, UK court finds
RBC Capital Markets: all e-FX trades subject to last look
The bank commits to FX Global Code of Conduct and publishes Ficc client notice
IA calls for more last look disclosures
Investment Association says venues must take more responsibility for monitoring behaviour and LP adherence to FX Global Code
Goldman Sachs discloses max last look hold times in FX
Past behaviour may subject clients to a 200 millisecond hold period, as US bank tries to avoid losses
Clarifying the murky language of liquidity
Campbell Adams, founder of the Pure initiative that now operates as ParFX, has a grudge against misnomers
GFXC to push for more LP disclosures
Following the publication of the final version of Principle 17, the committee will establish three new working groups
GFXC publishes final word on last look
The GFXC has released the new and final version of Principle 17 and added two examples to illustrate best practice
GFXC decides to change Principle 17
Principle 17 to be tweaked to reflect GFXC's view that participants should not undertake trading activity that uses information from the client's trade request during last look window
DFS hits Credit Suisse with $135m fine
Department of Financial Services issues consent order, listing FX misconduct and abuses that potentially affected customers for years
GFXC hopes for Principle 17 decision on November 15
Committee publishes responses to its consultation on last look and will meet to decide on the subject on November 14
Platform capacity issues raise liquidity concerns
Liquidity providers concerned that ECNs are struggling to cope with amount of data going through venues
ACI joins voices calling for changes to Principle 17
ACI finds “no firm evidence or specific situations” where there is any likely benefit to clients from trading in the last look window
Last look consultation closes, outcome uncertain
Responses to GFXC’s consultation on last look will be published before the body meets on November 14
Cartledge: Direct is moving to single-ticket execution
“We don’t know if the order is for the full amount or not, so we don’t want to call it full-amount trading," says Cartledge
XTX moves to zero hold times
The liquidity provider eliminates discretionary latency buffers in the last look window when trading with direct counterparties on a disclosed basis
Currenex and EBS mull venue-hosted last look
Platforms consider becoming third-party operators of last look to separate the function from liquidity providers