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FX Markets Staff

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Articles by FX Markets Staff

BoA swings the axe

NEW YORK – Bank of America has taken a hatchet to its three-month-old global rates, currencies and commodities (GRCC) business, with senior level departures and desk closures last week.

ABN Amro trading chief quits ahead of merger

LONDON – Gary Hawkins, London-based local markets trading chief at ABN Amro, has resigned from the bank in the same month a consortium led by the Royal Bank of Scotland (RBS) has won a long-running takeover battle for the dealer.

G-10 carry trades survive the crunch

Perhaps the biggest conviction Lehman held during this summer’s credit market shock was that the unfolding events would drastically alter the foreign exchange market. Most notably, we thought the carry-centric world that had dominated in recent years…

360T signs up to Harmony

NEW YORK – 360T is set to provide straight-through processing (STP) on multibank platform TEXR Multidealer Trading System and spot FX aggregator Supersonic TEXR using the Traiana Harmony network.

European dealers post record FX results

ZURICH & FRANKFURT – Losses linked to the credit crisis have overshadowed what has been a bumper third quarter for foreign exchange dealers, according to results released last week.

Citi hires two new heads for Asia-Pacific FICC

HONG KONG & SINGAPORE – Citi has hired Rodrigo Zorrilla and Aamir Rahim to co-head its Asia-Pacific fixed income, currencies and commodities (FICC) business, following the departure of Jeremy Amias this summer.

Saxo and JDFX offer risk management online

COPENHAGEN & ZURICH – Saxo Bank and Zurich-based foreign exchange trading company JDFX are today releasing Meta RMS, a risk management software package within JDFX’s online trading front end, MetaTrader.

BoA swings the axe

NEW YORK – Bank of America has taken a hatchet to its three-month-old global rates, currencies and commodities (GRCC) business, with senior level departures and desk closures last week.

GFI expands FX options trading

NEW YORK – Interdealer broker GFI Group plans to enable trading in foreign exchange options with specific interests, on electronic FX options broking system ForexMatch early next year, according to senior officials at the company in New York.

Bank errors cost £100 million

LONDON – Bank errors, delays and charges are costing UK businesses almost £100 million a year, according to research released last week.

Proquote signs up for Tullett’s data

Tullett Prebon Information is feeding real-time pricing data for money markets, rates and fixed income to Proquote, the London Stock Exchange’s (LSE) multi-asset class market data and trading terminal.

SembCorp Marine names independent investigator

SINGAPORE – SembCorp Marine (SCM) has appointed PricewaterhouseCoopers as an independent investigator into unauthorised foreign exchange trades that could cost the company $165 million in losses.

BoA cuts 3,000 jobs

CHARLOTTE, NC – Bank of America’s capital markets and advisory services franchise, which includes the bank’s foreign exchange activities, is facing job cuts just two weeks after the bank revealed a drop in corporate and investment banking earnings.

BarCap reshuffles Asia rates and FX

HONG KONG & LONDON – Barclays Capital has made senior management changes in rates and foreign exchange following the transfer of former chief operating officer of global rates Peter Romain to a new role in wealth management.

All eyes on Asia

Divyang Shah, chief strategist at the Commonwealth Bank of Australia in London, says Asian equities and commodity markets hold clues on the AUD/USD parity debate

Banks slow to prepare for Mifid

PARIS – Investment banks have spent 20–25% less than initial estimates on preparations for the Markets in Financial Instruments Directive (Mifid), according to research from Paris-based IT service provider Atos Origin.

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