MarketFactory chairman James Sinclair sets out the reasons why FX liquidity could fragment further, in a new white paper.

The findings of JPMorgan’s 2018 e-trading survey underlined yet again the importance of effective execution policies and systems.

Industry experts on whistleblowing have been lobbying hard for reform, but it is still often the case that whistleblowers with the best of intentions have found themselves in legal grey areas, ending up blacklisted, bankrupt and unable to work in the City again.

Volatility in Q3 led to losses for Europe’s multinationals, report shows.

The forex market may have had a quiet 2017 with no big market dislocations, but liquidity is not as deep as it once was, while the buy side is becoming more discerning, driving changes in trading behaviour.

JPMorgan’s annual institutional e-trading survey shows rising appetite for mobile trading, but growth in algo execution has been slower than anticipated.

The impact of transaction cost analysis (TCA) on the FX buy side remains hard to quantify, despite the relative maturity of the technology.

While regulators across Europe eye up – and in some cases replicate – the FCA’s regulatory sandbox, an EU-wide fintech testing platform remains far from inevitable.

The latest cryptocurrency price crash is shining the spotlight on the regulation of these borderless, digital currencies, but the rules differ wildly from country to country; global super-regulator IOSCO is set to make an announcement.

London-based Cash Netting Services is aiming to cut hundreds of millions of dollars in annual costs for banks by helping them find netting opportunities on a bilateral basis.

Euromoney's latest coverage of the currency.

The pace of change at Imperial FX during the past 10 months highlights the scale of the task of transitioning from high-street remittance to an online platform.

The Association of Corporate Treasurers (ACT) has heralded a decision to include one of its members in a working group looking at the replacement for Libor.

Global growth will be a key driver of currencies in 2018, a year in which the foreign-exchange industry will have to adapt to the strictures of Mifid II and a self-governing code of conduct.

Euromoney speaks to some of the FX-focused companies in the third cohort of the Financial Conduct Authority’s (FCA) regulatory sandbox hoping to match the progress achieved by many of their predecessors.

Pragma has attempted to provide some clarity to the little-understood phenomenon of flash crashes by providing a definition of the term for the first time, which it hopes will encourage further study of these market dislocations.

The complexity of ERP and remote systems could leave treasurers exposed to FX risks. As automated systems look to fill this gap, there are still benefits from having a wide understanding of the whole business.

Analysts’ confidence that there is untapped demand from Chinese banks to trade offshore RMB is good news for R5, which last week announced a joint venture with Shanghai Clearing House designed to connect these institutions to the London FX market.

Innovation and price transparency around market data remain a bone of contention among FX market participants, although data providers insist they are working to reduce costs.

FX market participants have benefited from guidance on good practices and the availability of sophisticated technological solutions, but implementing a surveillance programme remains a considerable undertaking.

Iceland may remove, as early as the first quarter of 2018, the last of its capital restrictions imposed in the wake of its financial crisis, say market players.

Are non-bank market makers simply repackaging existing liquidity or are they genuinely adding to market flows?

Fees and regulatory uncertainty remain a concern for traders as cryptocurrency exchanges continue to broaden the range of fiat currencies they support.

Fragmented liquidity has helped make financial extranets fundamentally important tools for global FX market players, but traders need to do their due diligence in picking the right fit for their strategies.

The conviction of former HSBC trader Mark Johnson for front-running a customer FX order could transform the way dealers hedge client trades – and how they communicate with each other.

Cryptocurrency architects have unveiled Bitcoin Gold, a new currency based on the bitcoin network set to begin trading in December, which attempts to resolve what some see as the excessive influence miners have on the bitcoin network.

Co-location providers are getting a boost from higher levels of electronic trading, the ambitions of Asian brokers to grow their businesses in Europe, ongoing concerns over cybersecurity and regulatory factors.

A lack of cooperation and coordination among regulators is increasing systemic risk.

As exchanges look to snap up a bigger share of foreign-exchange business, they face the challenge of catering to investors’ multiple trading models.

Providers of contracts for difference (CFD) trading services have launched a robust defence of their business, suggesting that traders are made fully aware of the risks involved and calling for regulators to support compliant CFD providers.