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Paul Blank

Understanding the quality of FX liquidity provision - why not all FX liquidity is created equal

Global FX markets are in transition, the catalysts include tougher regulation, higher capital costs and reductions in leverage ratios. As a result, we are seeing continued fragmentation of liquidity a...

15 Jan 2017
Innovation in Financial Services
Paul Blank

Talk of ICE exchange to buy FX platform Fastmatch

Interesting to see that Profit&Loss running a story that the US futures Exchange ICE may be preparing to buy our all three shareholders (Credit Suisse, BNY Mellon and FXCM) of FX platform Fastmatc...

20 Jul 2015
Paul Blank

Why Dealer-to-client FX platforms should provide TCA tools for buy-side clients

The majority of single-dealer platforms (SDPs) – especially those of regional banks, provide mainly principal (rather than agency) based pricing to clients. That’s where the bank takes the other side ...

13 Jul 2015
Paul Blank

Why SDPs should provide TCA tools for buy-side clients

The majority of single-dealer platforms (SDPs) – especially those of regional banks, provide mainly principal (rather than agency) based pricing to clients. That’s where the bank takes the other side ...

13 Jul 2015
Paul Blank

Review of major FX Platforms volumes for June 2015

The major OTC FX platforms have now reported their Jun 15 volumes. In terms of spot FX, EBS and FastMatch show decent 5%+ gains, whilst Reuters spot volumes fall 1.8% to their lowest levels of 201...

12 Jul 2015
Paul Blank

Last look, lack of time-stamp and internalisation of flows - Which practice is most open to abuse?

Last month's publication by The Fair and Effective Markets Review FEMR, set out 21 recommendations to help restore trust in the wholesale Fixed Income, Currency and Commodity\ (FICC) markets. Recomm...

06 Jul 2015
Paul Blank

Single-Dealer Platforms and SEFs

Last week saw the introduction of mandatory execution on new SEF platforms for certain standardised interest rate swaps. Such swaps will no longer be executed bilaterally between banks and their clie...

24 Feb 2014
Innovation in Financial Services
Paul Blank

Can research drive execution, prove it?

Ask the head of research at any major bank, and they will tell you that their insightful research is a core competence for the bank, and a reflection of their deep understanding of the markets, and a ...

15 Apr 2013
Innovation in Financial Services
Paul Blank

Latest BofE FX Survey Data - surprising findings

The Bank of England has JUST released their latest semi-annual FX turnover survey results for October 2011. Highlights Daily FX vols $1,972bln, down 3% on April 2011, some 17% higher on the year ...

06 Feb 2012
Innovation in Financial Services
Paul Blank

Optimising performance of single-dealer platforms

Many of the posts in this blog quite rightly focus on how single dealer platforms (SDPs) solve the problem of delivering compelling business workflows to clients right across the trade life-cycle. And...

23 Jan 2012
Finance 2.0
Paul Blank

SEC and CFTC clarify Swap Definitions but FX still fuzzy

The SEC yesterday released full definitions of Swaps here. The CFTC also released a summary Q&A paper to clarify the SEC definitions for SWAPS which is available here. For the avoidance of doub

28 Apr 2011
Paul Blank

Is Deutsche Bank calling the top on Retail FX?

Is Deutche Bank calling the top for Retail FX? Deutsche Bank is exiting the Retail FX space by selling its hugely successful FX platform dbFX to Gain Capital, in order to focus on its core institution...

22 Apr 2011
Finance 2.0

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