Settlement
OTCXN launches crypto-trading venue for institutional clients
Clients have already begun executing trades in ether and bitcoin versus dollars
European FX lawsuit may follow soon, says source
Institutional investors filed a lawsuit in NY against 16 banks on November 7, which could be followed by European complaint
DTCC begins testing DLT-based credit derivatives service with 15 banks
New service expected to launch after first quarter of 2019
OTCXN partners Prime Trust
Prime Trust will serve as a third-party custodian for trading entities and exchanges using OTCXN technology
Law joins CLS in Hong Kong
Margaret Law joins from Northern Trust and reports to Joe Ziccarelli
DoJ seeks stay on benchmark case discovery
Antitrust division tells court the request is to protect the integrity of ongoing cases
David Puth steps down as chief executive of CLS
CLS board chairman Kenneth Harvey will assume the post until a replacement is found
CLS settlement will migrate to new platform in 2020
The infrastructure provider will launch the new venue based on its own technology next year, with service migration planned for May 2020
Focus shifts to plumbing as crypto markets mature
Panellists at the 14th annual FX Week Asia conference say the institutionalisation of crypto markets is gaining momentum
Barnard becomes CLS chief auditor
He joins the settlement firm after a long career in auditing
Strømme launches crypto prop shop
Jan Strømme, former global head of e-FX distribution at XTX Markets, sets up Alphaplate, a cryptocurrency trading firm
Nex Infinity DLT could go live this quarter – Choussy
The DLT element is ready from a technical perspective
Intl FCStone set for yearly payments of $1bn in Brazil
Exotic markets payments provider says volumes are up threefold since obtaining a banking licence in the country
CLS onboards Japanese funds
Japan-domiciled funds gain access to settlement through CLS as third-party participants for first time
HC Tech: it’s time to speak up
Recent industry survey shows HC Tech is biggest liquidity provider in US by market share
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
DoJ asks for discovery stay in benchmark case until ‘Cartel’ case ends
US tries to balance need to protect ongoing criminal investigations and lawsuits with civil attorneys’ desire for additional testimonies
Banco Monex becomes first Mexican member of CLS
The bank is the only CLS settlement member in one of Latin America’s largest FX trading centres
FX lawsuits: the roundup
The number of cases related to conduct in foreign exchange markets has multiplied. Here is our handy guide to developments so far
CLS profits down in 2017 as firm invests
Settled volumes continue to grow year-on-year and underlying profits are in line with expectations, Puth says
FX Cartel loses bid to dismiss criminal case
Judge says SFO investigation was a sign the currency traders could be prosecuted somewhere
OTC derivatives values fall to 10-year low – BIS
The most recent slump continues the retreat from gains witnessed in the first half of 2016
FX veterans launch Global Code consultancy
Nick Downes and Julian Gladwin form Axiom Global Advisors to independently assess firms’ preparedness for adherence
CLS volumes dip in March, but it’s a record Q1
The settlement utility records average daily volumes of $1.87 trillion for Q1 2018