There is a long run list for this week’s In the FICC of It podcast, which kicks off with some welcome listener input into last week’s questions of algos intentionally losing money to throw the “order sniffers” off the scent and the challenges facing Singapore’s efforts to build an FX liquidity hub.

Colin Lambert and Galen Stops then develop the conversation further by discussing recent comments on FX platform consolidation – Lambert highlighting his concerns that the universal belief in data as a revenue generator may be a short lived model for many – before moving onto the establishment of a code of conduct for crypto markets, something Stops believes cannot hurt the industry in spite of his doubts over how deeply embedded in the digital assets world it can really become.

There is also time for a quick chat about the very fluid nature of the prime brokerage world at this time before our two podcasters close out by asking, can a 10-year old product really be labelled as “new”?