News
ForexClear launches client clearing for NDFs
LCH.Clearnet has launched buy-side clearing of NDFs on its ForexClear platform, a year after it gained approval from the UK Financial Services Authority
BNP Paribas loses e-FX strategy chief
Martin Zinkin departs the French bank after little more than a year
US pension fund sues seven dealers over FX benchmark rigging
Massachusetts-based pension fund Haverhill Retirement System is suing seven FX dealers for manipulation of the WM/Reuters benchmark rates
ECB speculation provides welcome diversion for investors
Currency investors are growing weary of QE tapering speculation and taking more of an interest in events in Europe, prompting big moves in the euro
High-profile CIO exits FXall after 18 months
Steve Rubinow, who joined FXall as chief information officer shortly before it was acquired by Thomson Reuters last year, has left the company
EBS volumes fall to another record low in October
Continued low volatility in the FX market has pushed EBS volumes lower in October, as participants struggle to see an end to depressed market activity
Swedish corporates feel the pinch of the krona’s strength
The Swedish krona has remained strong over the past year, creating challenges for Sweden's exporters that have found their profit targets dented by the FX headwind
TriOptima unveils UTI pairing service for Emir reporting
Icap-owned technology provider seeks to tackle the dual reporting challenge for paper-confirmed trades and FX trades without a common ID
SGX closes in on FX futures launch
Singapore Exchange plans to launch FX futures in six currency pairs on November 11 as it looks to gain an edge on rival exchanges that have been delayed in launching the product
Lloyds hires Arrowsmith in corporate sales
Ian Arrowsmith joins Lloyds from Santander; other hires at BT Global Services, Royal Bank of Scotland and JP Morgan
ACT hires UBS's Meyer to run structured products venture
ACT Currency Partner continues its expansion with the launch of an FX structured products offering, managed by a veteran of UBS
Systematic strategies will bounce back, say managers
Despite the recent bankruptcy of FX Concepts, some currency managers believe systematic investment strategies could soon make a comeback
BNP Paribas embarks on three-year hiring spree in Asia
The French bank has plans to hire 1,300 staff in the Asia-Pacific region by 2016, with the aim of bolstering revenue by at least €1 billion
Economies of scale create two tiers in FXPB
The high cost of operating in prime brokerage is the biggest challenge for less-established players looking to gain market share
FX benchmark probe gathers pace as chief dealers placed on leave
Senior spot traders at JP Morgan, Citi and Standard Chartered have all been placed on leave, while Barclays, Deutsche Bank and UBS confirm they are conducting internal reviews in connection with alleged manipulation of FX benchmarks
Barclays hires head of Ficc research for Asia-Pacific
David Fernandez ends a 15-year career at JP Morgan to join Barclays in Singapore as it continues to expand its Ficc offering
Bloomberg launches US dollar benchmark
New US dollar index will represent 10 currencies, including Chinese renminbi and the Australian dollar
Americas FX sales head exits Goldman Sachs
Alain Marcus has left Goldman Sachs after four years at the firm in New York
SEB closes voice trading desk in New York
Increased demand for electronic trading in the US has driven the Swedish bank to close its New York voice trading desk, at the cost of three jobs
HSBC's Boillereau takes the chair of the global FX division
Fred Boillereau stepped into the top role at the industry body earlier this month, succeeding Troy Rohrbaugh
State Bank of Vietnam taps Thomson Reuters for FX monitoring system
Vietnam's central bank takes a step forward in increasing transparency and reporting in its foreign exchange market
Buy side prepares for fixed-income storm
Artificially low volatility leaves firms nervous about the future – and looking for fixed-income alternatives
EU bonus cap threatens the future of London FX
The UK last month launched a legal challenge against the EU's planned bonus cap - it will need to be successful if London is to retain the best FX sales and trading personnel
FX benchmark probes leave buy side unconcerned
Currency managers remain comfortable using FX benchmarks despite widespread investigations into the practice, with some questioning how benchmarks could be manipulated