FX
FX boss found guilty of £70m Ponzi-scheme style scam
41-year-old Anthony Constantinou offered returns of 60% per year to investors.
LMAX boss David Mercer’s pay doubles to £1.6m after bumper crypto year
LMAX is cashing in after a 340% rise in crypto trading volumes to $500bn
2 min read
Hedge funds bet on pound rally
The number of call options has dropped, but hedge funds lean slightly bullish on the pound
2 min read
Hedge funds were bullish on the pound before mini-budget turmoil
Crispin Odey has said he correctly bet on the pound's plunge. Options data show many of his hedge fund peers were net long
2 min read
El Salvador prepares for risky cryptocurrency experiment
Impoverished nation is defying warnings against using volatile bitcoin as official currency alongside the US dollar
4 min read
Trading Places: Osborne lands at Robey Warshaw, new Citi CEO shakes things up
Also this week: Tom Hayes has career advice for juniors, and Deutsche Bank made promises on bonuses
2 min read
City watchdog fines FX options broker TFS-Icap £3.4m for misleading clients
Brokers at TFS-Icap misled clients to encourage them to make trades between 2008 and 2015
2 min read
Here’s what’s next for the US dollar regardless of election results, according to Goldman Sachs
‘Investors still seem reluctant to embrace a lower dollar view for the remainder of this year and through 2021,’ Goldman Sachs said
2 min read
It’s time to drag the global FX market into the 21st century
It is astonishing that in an age of cloud services and 24/7 connectivity, currencies are traded only Monday-Friday
3 min read
Why global investors cannot ignore Turkey’s currency woes
Liability mismatch in Turkey puts foreign banks in focus, watch emerging market bond indexes, analysts say
4 min read
Crypto ‘now a real asset class’ as LMAX sees volume double
The volume of cryptocurrencies traded through LMAX Digital, its crypto arm, more than doubled in the first half of 2020 – reaching a total of $36bn
3 min read
Exchange takes cue from crypto investors with weekend FX trading
LMAX Digital sees hundreds of millions of dollars in crypto traded each week, without any downtime
Whistleblower who revealed currency abuses at BNY Mellon receives $50m
SEC makes its largest payment ever for an individual providing a lead on illegal market practices
Fed to increase frequency of dollar transactions with other central banks
Fed will provide daily swap line operations with five other central banks
Foreign exchange broker tussles with RBS over surprise move for clients
RBS's NatWest Markets division catches JB Drax off guard with direct approach to corporate clients
Waiting for crypto: Central banks inch towards digital currency
Facebook’s Libra and China’s digital yuan initiative have provided a spark, but the race to digitise currency is a slow burner
8 min read
Pound tumbles as spectre of no-deal Brexit returns
Markets had assumed an extension would be required, but now hopes for such an extension are fading, says analyst
1 min read
Pound surges as Boris Johnson marches to victory in UK election
The pound has been up and down in recent weeks as investors react to election polls
3 min read
City banks ask traders to pull election all-nighters
Staff are used to burning the midnight oil around macro events, but the timing and unpredictability of this poll are unusual
3 min read