Pragma launches SmartFix algorithm to improve FX trading performance against WM/R 4pm LeapRate

April 11, 2016 BY Mike Fox

Pragma launches SmartFix algorithm to improve FX trading performance against WM/R 4pm

Pragma Securities, a leading provider of high performance algorithmic trading tools, has launched Pragma SmartFix, a new execution algorithm designed to improve average execution performance against the daily 4pm WM/Reuters foreign exchange benchmark fixing. The algorithm is based on patterns detailed in a research paper released by Pragma today. Following recommendations from regulators in the…

December 15, 2015 BY LeapRate Staff

New City Initiative paper: Mispricing of FX transactions costs European fund industry at least €1.5 billion a year

The NCI also finds that the London 4pm fix carries too much influence and is a flawed method of execution.

July 15, 2015 BY Andrew Saks-McLeod

Research by Pragma uncovers predictable trading patterns around WM/Reuters FX rate fix

Pragma Securities CEO David Mechner notes that changes in the Fix methodology and how firms are trading around it has created patterns that can be exploited to improve trading performance, a measure that many buy-side firms can take into account when considering tracking error against indices

January 21, 2015 BY Andrew Saks-McLeod

Fixing the fix! Integral Development Corporation introduces execution service for accurate tracking of WM/Reuters rate

Integral Development Corporation, along with Russell Investments, have introduced RFX Network which is designed to help institutional investors including asset managers obtain currency exchange rates that seek to minimize tracking error with respect to the rates published by WM/Reuters.

August 20, 2014 BY Mike Fox

Banks, funds agree on wider window for FX fix

Banks and asset managers are ready to support an extension of the one-minute window used to set currency market benchmarks, documents showed on Wednesday, but most are concerned by the risks involved and divided on how much of an extension.

March 04, 2014 BY Gerald Segal

Electronic dealing fast replacing ‘faulty’ forex dealers at major banks

Regulatory action risks to squeeze big banks' profit margins from FX, but bringing increased transparency and likely more volumes A report in Monday’s edition of the Financial Times outlines an accelerating shift that is occurring within the FX markets industry during the past couple of months. Yes, we are talking about electronic dealing finally arriving…

February 10, 2014 BY Gerald Segal

Big banks face both criminal charges and civil lawsuits over 4pm fix currency probe

FCA hints that criminal charges are coming; Asset Managers launching lawsuits. So far, the major fallout of the investigations launched by several national financial regulators into the rigging of the global currency market -- specifically into the way the daily 4pm cross currency fix is set -- has been limited to some bad press for…

February 09, 2014 BY Gerald Segal

Senior FX exec departures continue – Citi, Goldman Sachs, and now RBC

Canada's RBC Capital Markets sees Graeme King depart as co-head of FX spot trading. The revolving door continues to swing in the executive suites of major banks. Last week we reported on the departure of Anil Prasad, Citigroup Head of FX. Well the weekend has brought more changes, with Canada's largest bank RBC announcing that its co-head…

February 06, 2014 BY Gerald Segal

Citi loses Head of FX Anil Prasad – more 4pm fix investigation fallout?

Citi's revenue from fixed income, currencies and commodities trading fell 7% last year. Global commercial bank Citigroup has announced that its Head of FX, Anil Prasad, is leaving the company effective March 31, with no replacement set yet. Prasad joined Citi in the mid 1980s, although he left the bank for a spell to work…

January 21, 2014 BY Gerald Segal

German regulatory watchdog puts 4pm fix investigation as top priority

Foreign exchange fixing revamp is imminent as regulators contemplate big changes Sources familiar with the recently launched investigation by German regulatory watchdog BaFin are claiming that the investigation has been put on the top priority list and Deutsche Bank’s London offices will be visited by an investigating team. Transparency in major banks’ business practices has…

Tag: 4pm fix