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FX Markets Staff

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GFI adds three for Fenics FX

LONDON – Inter-dealer broker and market data firm GFI Group has hired three new staff for its Fenics FX options pricing system in London and Singapore. The hires will help the firm meet increasingly sophisticated demands on the system from bank clients,…

HSBC doubles EM strategy

NEW YORK – HSBC is doubling staff on its emerging markets (EM) currency strategy team to four, to help support the bank's growing sales and trading coverage of the sector.

BoA loses three FX staff in London

LONDON – Three FX staff members have left Bank of America in London in the past two weeks, following a series of high-level departures earlier this year.

FX chief joins Pru exit queue

LONDON – The departure of Howard Carr, head of FX and commodities at Prudential Bache in London, has sparked fears for the future of the bank's FX desk in the city.

US banks hit by flat trading

New York – Poor market conditions have led to a sharp fall-off in FX revenues for some US banks, but others managed to post increased returns in the third quarter.

Deutsche gets China FX derivatives licence

Deutsche Bank has become the latest foreign bank in China licensed to trade onshore currency derivatives. An un-named Deutsche Bank official in Singapore said the China Banking Regulatory Commission gave the German bank the go-ahead last week.

SuperD adds 14 in global sales

LONDON – Super Derivatives has taken on 14 sales and support staff, as it tries to expand its coverage in the foreign exchange market and break into other asset classes.

Hedging Chinese renminbi revaluation

To boost returns on the event of Chinese renminbi revaluation, trading on the recently launched Bloomberg-JPMorgan Asian Currency Index (ADXY) is the best solution, says Erik Herzfeld, head of regional options trading at JP Morgan in Singapore, and…

Swapstream names new chief executive

LONDON – Swapstream, a medium- and long-term interest rate swaps trading platform, has made Stéphane Rio chief executive, based in London. Rio previously headed rates trading at Commerzbank in London for five years, and replaces Marcus Grubb, who left…

Reech forecasts growth in demand from hedge funds

LONDON – SunGard Reech expects to see a growth in demand from hedge funds for its stochastic volatility model, Real Stochvol, as more people seek to invest in hedge funds, said Christophe Reech, chief executive of the SunGard unit.

US banks hit by flat trading

New York – Poor market conditions have led to a sharp fall-off in FX revenues for some US banks, but others managed to post increased returns in the third quarter.

Lava launches FX platform

NEW YORK – Lava Trading, the US-based equities technology firm Citigroup bought last month, has launched a foreign exchange trading platform called LavaFX.

Reuters outage spells pricing void

LONDON - The pitfalls of relying on electronic systems was made clear to FX traders last week, as a power outage at Reuters' technical centre left them without pricing in European currencies for seven hours. The outage, which began at 2.34pm in London (9…

Dollar to continue its slide next year

Michael Klawitter, senior currency strategist at WestLB Global Financial Markets in Düsseldorf, sees the euro continuing its appreciation against the dollar next year

Reuters to build Chinese FX platform

SHANGHAI – The China Foreign Exchange Trade System (CFETS), a subsidiary of the People's Bank of China, has signed up Reuters to develop a global foreign exchange trading system for it and its member banks.

Icap launches JV in Korea

SEOUL – KIDB-Icap, a joint venture between global inter-dealer broker Icap and Korean inter-dealer broker KIDB, has begun broking FX and interest rate derivatives in Seoul. The move takes place following the green light for the venture from the Ministry…

EBS gets foothold in China

SHANGHAI – Spot broker EBS has signed up Bank of Montreal as the first bank in mainland China to use EBS Spot, its spot broking platform. Through the agreement, Bank of Montreal (BMo) will be able to trade spot FX from its offices in Beijing, Guangzhou…

SARB to cut before year-end?

Royal Bank of Canada expects a 50bp rate cut in South Africa to 7.00 before the end of the year, explains Tania Kotsos, senior emerging markets strategist at the bank in London

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