News
Former RBS trader claims dismissal was premeditated
Ian Drysdale, fired in 2014 for gross misconduct, told an employment tribunal that the bank had "dishonestly contrived" his dismissal
Senior staff shake-up at Lloyds Bank
Anders Henrikson to be replaced by Rob Hale. Marc Guilbert will take on Vikas Debral's role
FSB report finds mixed progress on benchmark reforms
Report welcomes ‘good progress’ on many recommendations, particularly surrounding London fix, but identifies room for improvements
Market volatility drives FX revenue
Macro-volatility is the driving force behind the increase, as it prompts clients to hedge
Orca SMT unveils FX product to help salespeople
Orca SMT has launched a new FX trade execution interface that aims to provide a tool for salespeople to better price their clients at the point of trade
Giannuzzi joins JP Morgan
He leaves the FX sales desk at Nomura after five years
Blockchain partnership attracts another 13 banks
Initiative led by financial innovation company R3 seeks to bring distributed ledger technology to financial markets
R5FX goes live with pesos and real
EM platform opens its first three currencies to live trading
Chinese corporate hedging costs soar after PBoC forex clampdown
Chinese corporates looking to hedge following last month's renminbi devaluation face 400bp price hikes because of a new PBoC rule forcing dealers to hold deposits against onshore renminbi-based forex derivatives
Northern Trust targets investment managers with CompleteFX platform
Geared at investment managers, CompleteFX allows for the outsourcing of FX processing and execution
Galy heads to Deutsche Bank
He leaves Societe Generale to become FX strategy director at the German bank in New York
RBC loses three in FX sales
Severi, Mazzoni and Romero are understood to have left the bank
CME changes rules on renminbi futures contracts
The higher trading ranges reflect changes in volatility for the onshore and offshore renminbi
Currency funds maintain positive returns in August
The US dollar was down for the month as safe-haven demand shifted to the euro and the yen
FX professionals choose LinkedIn
The social media tool of choice is not being used for communication purposes but more for information gathering
Cardon hired for currency portfolio at Russell Investments
Elise Cardon's appointment helps Russell to respond to investors’ increasing interest in strategies to lower the impact of unwanted currency exposure
China eases cross-border cash-pooling restrictions
Beijing increases the amount that international firms are allowed to pool in the Shanghai free-trade zone five-fold, making it easier for them to circumvent capital controls and manage liquidity
FXecosystem launches visual monitoring tool
The new product allows users to monitor network and market data flows in real time
Seabury names Chan as FXone's interim chief
Margaret Chan replaces Rosario Ingargiola temporarily, while Seabury makes other hires to boost its footprint in e-FX execution and liquidity management solutions for institutional FX trading
FastMatch offers one-to-one trading for $1 per million
The platform extends its FX offering to direct trading
Customers consider suing banks in FX manipulation
Customers who took large positions are beginning to wonder if they lost out during the rigging and are exploring the potential for redress. The legal woes for financial institutions are far from over
ParFX adds offshore renminbi
The wholesale electronic platform boosts its currency offering with the addition of the offshore renminbi
Hastie joins Clutch Group
Former FCA enforcement investigator Charles Hastie becomes regulatory head at the legal and compliance services provider in London
Hotspot targets Europe and Asia with London FX matching engine
Hotspot’s new engine gains $1.2 billion single-count trading volumes in its first full week