BNY Mellon backs London to lead European race for offshore RMB

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London and Singapore are fast closing the gap on Hong Kong in the race to become centres for offshore renminbi business and capitalise on Beijing’s ambition to make the RMB a global currency.

FX industry calls for greater accountability on IBOR benchmarks

Marshall Bailey,

ACI, the foreign exchange industry body, has called for the adoption of a new Model Code for sell-side and buy-side firms on financial benchmarks, to harmonise codes of conduct and prevent a recurrence of the Libor and other recent rate fixing scandals.

CLS: Supreme Court ruling removes threat to financial infrastructure


In a landmark ruling, the US Supreme Court has ruled that the intermediated settlement of financial exchanges is an abstract idea and therefore not patent-eligible. David Puth, chief executive of CLS, which won the case in question. discusses the implications of the ruling.

Wall Street vendor launches FX smart order router

New York-based Lucera says its smart order router can help source FX liquidity

Lucera Financial Infrastructures has launched LumeFX, a technology platform that aims to help market participants increase their chances of finding a fill by using a smart order router to find FX liquidity.

Bitcoin: the indestructible currency?


Despite the high profile media scandals surrounding the demise of the Mt Gox exchange and the Silk Road trading website, Bitcoin is evolving rapidly and will soon present a better, more stable and accountable alternative to the fiat currencies most of us trust and use every day, according to Mark Lamb, chief executive of London-based Bitcoin exchange Coinfloor.

EBS rolls out mobile FX app

FX trading service EBS has launched Watch EBS, a new mobile app that is designed to show users the global spot FX market in as close to real time as possible.

Known Unknowns: preparing for SEF-traded FX options

Robert Gray, Dion Global

The Dodd-Frank Act launched the acronym SEF into the alphabet soup of modern capital markets, After three years of repeated discussions, consultations, submissions and furious wrangling, Swap Execution Facilities finally come into operation this week.