Articles by Robert Mackenzie Smith
FXall continues product innovation under new ownership
Following the completion of its acquisition by Thomson Reuters, FXall will continue to operate independently until the integration is complete
CME ready to fight for market share in Europe, says Sammann
CME Group's European exchange, set to begin trading FX futures next year, will offer a competitive alternative to other exchanges, says the group's head of FX and rates
Shining a light on high-frequency trading
Forex trading platforms are intent on tackling any negative effects of high-frequency trading, but the speed of the practice makes it tough to manage the risks. Robert Mackenzie Smith reports
Countries will leave the euro by 2014, says ACI UK poll
The vast majority of respondents believe at least one country will leave the euro by 2014, but expect the single currency to survive
Nomura hires ex-RBS corporate risk business head
New appointment follows the departure of Georges Assi last month from his role as deputy global head of fixed income
Morgan Stanley e-commerce head joins RBS
Jeremy Smart last week joined Royal Bank of Scotland as global head of electronic distribution
Euro set to fall further after period of stability, says UBS
An accurate forecast that eurodollar would remain steady at 1.24 lands UBS at the top of the one-month rankings, although the bank is more bearish on the currency in the longer term
Sef connectivity hurdle looms for bank platforms
Many single-bank platforms have elected to connect to swap execution facilities, where they can route regulated products rather than losing that business altogether. But the new model requires connectivity to multiple platforms, which could be costly and…
HSBC hires from Deutsche to fill hedge fund sales role
Appointment is the latest in a series of hedge fund sales moves after JP Morgan hired Michael Spencer from HSBC earlier this year
Deutsche merges structuring teams across asset classes
As part of a broader structural reorganisation, Deutsche Bank is bringing its structuring teams together into a single business headed by Ram Nayak
Spotlight on: Nick Beecroft, Saxo Bank
Saxo’s newly appointed UK chairman and FX industry veteran Nick Beecroft talks to Robert Mackenzie Smith about his priorities in seeking to grow the Danish bank’s presence in the UK, as well as the challenges facing the FX market
Decline in spot volume driven by low volatility and HFT controls
The fall in FX spot volumes revealed in this week’s semi-annual survey data has been driven by low volatility and new controls on HFT behaviour, according to members of the FX JSC
Deutsche’s FX volumes continue to grow, despite tough Q2
Deutsche Bank’s profits fell from €1.4 billion to €661 million during the second quarter, but the bank’s FX revenue recorded only a small year-on-year decline
FX spot volumes in decline, survey results reveal
Average trading volumes in the spot market fell across all major FX centres in April, according to turnover survey results
Eurozone woes spreading to China, warns BAML
Bank of America Merrill Lynch has climbed to the top of the one-month forecast rankings after taking a negative view on the euro, but the bank expects it could rally towards year-end
FXall acquisition ticks all the boxes, says Mark Warms
Thomson Reuters' purchase of FXall makes sense and will lead to a more powerful combined entity in the FX market, according to FXall's former Europe head
Carry makes a muted comeback as investors hunt for yield
The carry trade showed some signs of resurgence during the second quarter but currency managers remain lukewarm about the strategy in an uncertain economic environment
Ex-Saxo Seitz promoted to head MIG Capital
Bertram Seitz has been promoted to interim chief executive of MIG Capital, following the departure of Damien Francis
Best algorithmic trading technology (vendor): FlexTrade
FlexTrade Systems wins the vendor award for best algorithmic trading technology, having made significant progress in expanding FX market share over the past two years
Saxo scoops retail and white-label awards
As it approaches its 20th anniversary, Denmark’s Saxo Bank wins both best retail platform and best FX white-label liquidity service
Best post-trade services provider: DealHub
DealHub wins the award for best post-trade services provider as it continues to gain traction in the FX market, providing tailored cross-asset technology across the trade life cycle
Electronic broking initiative of the year: Tradition-Icap
Foreign exchange options broker Tradition-Icap wins this new e-FX initiative award in recognition of its daily volatility fixing, which dealers see as a landmark development in the trading of volatility
Bank e-FX initiative of the year: UBS
UBS wins the e-FX initiative award for its KPI reporting and analysis tool, which has filled a gap in the market and won plaudits from buy-side firms
Saxo appoints Nick Beecroft to chair London board
Saxo Capital Markets UK has appointed market veteran Nick Beecroft as chairman in London to replace Albert Maasland, who quit in May to join Knight Capital