With market uncertainty remaining at its peak Foreign Exchange traders were gifted with another cause for concern when one of the main FX inter-dealer platforms - Reuters 3000 suffered outage for a few hours on Tuesday. The System failure occurred at 1847 GMT and 2030 GMT.
Only a few weeks back Knight one of the largest Market Makers for US equities suffered a system outage which had sever consequences, the market maker suffered losses of $440 million.
The interbank FX market has been welcoming computerised systems since the 80's. Reuters was the first to launch its Dealing 2000-1, and then the enhanced version 2000-3. Reuters has been dominating the inter-dealer market alongside EBS. Banks use either platform dependent on the currencies they transact in. EBS is primarily for dollar and Euro transactions and Reuters is for commonwealth currencies.
The direct cause was not identified however a Reuters spokesperson said in an email; "We have identified the cause of this disruption in a third-party database and have made sure extra controls are in place to ensure there is no repeat of this occurrence," a spokesman for the company said in an email.
Unlike the flash crash markets faced little disturbance on Tuesday, alternative platforms like EBS were able to accept trades.
EBS faced an outage in 2009 when a network problem shut down the system for a few hours, consequently Reuters reported a large amount of volume for the affected period.
FX volumes have been considerably low in 2012, sparked by the Euro zone debt crisis and the thought of more quantitative easing.
On the Reuters system, the average daily volume traded in July was $130 billion, down from $143 billion in June, considerable lower then May's level of $154 billion. In the same month EBS reported $106.7 billion.
With market uncertainty remaining at its peak Foreign Exchange traders were gifted with another cause for concern when one of the main FX inter-dealer platforms - Reuters 3000 suffered outage for a few hours on Tuesday. The System failure occurred at 1847 GMT and 2030 GMT.
Only a few weeks back Knight one of the largest Market Makers for US equities suffered a system outage which had sever consequences, the market maker suffered losses of $440 million.
The interbank FX market has been welcoming computerised systems since the 80's. Reuters was the first to launch its Dealing 2000-1, and then the enhanced version 2000-3. Reuters has been dominating the inter-dealer market alongside EBS. Banks use either platform dependent on the currencies they transact in. EBS is primarily for dollar and Euro transactions and Reuters is for commonwealth currencies.
The direct cause was not identified however a Reuters spokesperson said in an email; "We have identified the cause of this disruption in a third-party database and have made sure extra controls are in place to ensure there is no repeat of this occurrence," a spokesman for the company said in an email.
Unlike the flash crash markets faced little disturbance on Tuesday, alternative platforms like EBS were able to accept trades.
EBS faced an outage in 2009 when a network problem shut down the system for a few hours, consequently Reuters reported a large amount of volume for the affected period.
FX volumes have been considerably low in 2012, sparked by the Euro zone debt crisis and the thought of more quantitative easing.
On the Reuters system, the average daily volume traded in July was $130 billion, down from $143 billion in June, considerable lower then May's level of $154 billion. In the same month EBS reported $106.7 billion.
ASX Faces $150M Capital Charge After Scathing Inquiry Finds Years of Neglect
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
