News
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
Expiry of Sef confirmation relief causes unrest among dealers
Swap execution facilities have only until October 30 before they have to issue legal confirmations for trades, but dealers remain uneasy about their ability to do so
Standardisation needed in Sef reporting conventions
Sefs agree a lack of clarity on reporting requirements has created an inconsistent and fragmented view of trading activity
Footnote 88 prompts BlackRock to abandon NDF platforms
Asset manager returns to phone trading for non-deliverable forwards after controversial footnote in Sef rules makes trading on Sefs an unattractive option for users
Traiana hires ex-Morgan Stanley prime brokerage exec
Simon Poole joined Traiana on Monday after leaving Morgan Stanley's FX prime-brokerage business earlier this year
Icap hires CME’s Paulhac to head up Sef
CME Group's senior managing director for interest rate and OTC products and services is jumping ship to Icap to run its Sef
European regulatory chief to leave CLS
Gabor Butor, head of European regulatory affairs, will leave CLS at the end of this week after two years
FX Concepts pays price for not adapting strategy
Bankruptcy of the currency management firm is due to its failure to react to new market realities, say competitors and insiders
BMO Capital hires in sales and trading
Canadian bank boosts London presence with hires in options trading and real-money sales
FX platforms divided on management of costs and speed
Officials at EBS, LMAX Exchange and State Street Global Exchange debate key issues facing new and incumbent platforms during a live webinar
FXCM hires Middle East head
Other people moves at CLS, Morgan Stanley and Portware
Traders welcome latest UK-China deal on RMB
The extension of the RQFII scheme to UK investors will further grow London's position as an international hub for offshore renminbi business, say traders
Barclays restructures European FX sales management
UK bank has moved from a geographically organised sales force to focus on its three core client segments
Chaotic birth of Sefs drives NDF trading off platforms
The first two weeks of Sef trading have seen some trading volume in non-deliverable forwards migrate to single-dealer platforms and voice brokers to avoid the rules
Internalisation to blame for EBS volume decline
Low volatility in major currency pairs has created an environment in which many banks prefer to internalise trades rather than trading on anonymous platforms such as EBS
KCG Europe loses chief executive
Robert Smith departs the recently merged company in Europe
Clearing of physical FX in China and India a concern, says GFXD’s Ngai
Global FX division managing director David Ngai warns of the challenges associated with centrally clearing physically delivered FX products
BAML hires from Deutsche in prime brokerage
Luciana Miranda has joined Bank of America Merrill Lynch in New York to run futures and FX prime brokerage marketing
Banks eye new protocol to streamline platform connectivity
A working group backed by seven banks is looking to create an automated protocol to streamline the process by which clients connect to FX trading platforms
SGX hires KC Lam ahead of FX futures launch
Former CME Group sales head joins the Singapore Exchange as it looks to expand its offering into FX futures
CBA appoints spot FX trader in London
Industry veteran Andre Katz joins from Bank of America Merrill Lynch
FX indexes head exits HSBC
Tamas Korchmaros leaves the industry after 13 years in FX
StanChart hires Wintersgill in FX sales
Graham Wintersgill and Mark Webster together again, this time at Standard Chartered
BBVA hires Mark Warms to head US FX sales
Former FXall salesman Mark Warms takes charge of FX sales for BBVA Compass in Houston, Texas