Articles by Saima Farooqi
Euro pessimism pays off for 4Cast
4Cast topped this week’s three-month currency forecast rankings with a dual prediction for a decline in the euro and yen.
SEB targets Asia growth
SINGAPORE - SEB has relocated Seppo Leskinen, chief investment officer of the SEB Multi-Manager Currency Fund, to Singapore from London, to leverage demand for currency management by investors in the Asia Pacific region.
Citi sales reorg after Jan Bak departure
LONDON – Citi has reorganised its institutional sales team with the departure of Jan Bak, head of non-UK European institutional sales in London.
FXall targets Japan expansion
TOKYO – FXall continues to expand its presence in the Asia-Pacific region, with a key hire from Deutsche Bank in Tokyo.
Non-banks drive up Hotspot volumes
JERSEY CITY, NJ - HotspotFX reported a 107.9% rise in average daily volumes to $35.2 billion - double count - in April, versus $16.9 billion last year.
Out of crisis comes opportunity?
The past few weeks of rampant volatility have no doubt put the technology of a number dealers to the test. particularly interesting though are the strategic rumours circulating about an unlikely dealer.
RBC Capital Markets adds in Asia
SINGAPORE & SYDNEY - RBC Capital Markets has added two hires to its global FX team in the Asia-Pacific region, with the appointments of Winston Quek and Amanda Lowe.
CIBC continues to grow
NEW YORK - CIBC has made two hires in its financial solutions group in New York, as it increases its presence in the city.
CIBC adds to corporate solutions group
TORONTO – CIBC has hired Douglas Jones as executive director in the Corporate Solutions Group (CSG) in Toronto.
UBS FICC revenues up in Q1
ZURICH – UBS experienced improving data from its fixed income, currencies and commodities (FICC) business in the first quarter, largely benefiting from a turnaround in the credit business.
China draws on Japan experience
The message was clear at the FX Week China congress in Beijing last Tuesday, China will move on its currency, but at it’s own pace.
CBRC plugs derivatives
BEIJING - Innovators of derivatives technology have found a backer in Yin Long, deputy director-general in the supervisory co-operation department of banking innovation at the China Banking Regulatory Commission (CBRC).
Chinese forex regulator warns against 'hot money'
BEIJING - Xiaoyi Wang, deputy governor at the State Administration of Foreign Exchange (Safe) has warned against the inflow of 'hot money' into emerging markets, as the risk of a worsening asset bubble continues.
FXCM to buy ODL Securities
FXCM is acquiring troubled online trading company ODL Securities, pending a final due diligence review and regulatory approval.
TXC live with Tokyo co-location facility
TOKYO – Trading Cross Connect (TXC) went live with its Tokyo co-location facility on April 15, using a network and data centre solution from Tokyo-headquartered KVH.
Euro crisis sparks record e-trading
LONDON & CHICAGO - Heightened concerns over the contagion risks of the Greek fiscal crisis to periphery economies last week led to record trading days on electronic trading systems.
High-frequency trading will be 40% of market by 2012
BOSTON - High-frequency traders could win from the introduction of central clearing in over-the-counter markets, according to research by Boston-based consultancy Aite Group released last week (April 26).
Why aren’t the Greeks using CLS?
A lesson learned from the Lehman Brothers bankruptcy was that, at times of stress, CLS plays a central role in ensuring forex traders are protected. It seems surprising then that only one Greek bank is using the settlement system.
Clients drive cross-asset trading
LONDON - Increased demand for cross-asset trading by hedge funds and asset managers will force the merger of foreign exchange and derivatives businesses, according to panellists at the FX Week webinar, FX technology arms race: the battle for market share…
Trading Places, April 26, 2010
This week's people moves across Europe, Asia and the US.
Westpac targets real-money clients
LONDON & NEW YORK - Westpac is building up its coverage of real-money clients with two senior hires in London and New York.
CME speeds up product identification
CHICAGO – CME Group will release version 2.0 of its Fix/Fast market data messaging format in June, which aims to make it easier for user firms’ data and trading systems to identify updates for specific traded products among messages distributed by the…
JP Morgan in e-FX build
LONDON – JP Morgan is continuing to build up product capabilities on its internally developed single-dealer system, MorganDirect, after switching off the pre-existing AVT-based system JPex last month.
Banks widen scope of IT budgets
Speakers at the FX Week webinar, FX technology arms race: the battle for market share, last Tuesday (April 20) covered a wide range of issues facing the industry post-crisis, including regulation, customers' increased demands and post-trade processing.