News
Savage launches multi-strategy hedge fund
Former FX Concepts executives Robert Savage and Ron DiRusso launch Citic Capital Holdings
Volume data creates distorted view of liquidity
As the six main FX committees prepare to release the results of the latest semi-annual FX turnover surveys this week, Joel Clark looks at volume trends in the industry over the past three years
BNP Paribas hires in e-FX sales
Amish Naik joins the French bank in New York, having previously been at Citi for more than three years
OTF transparency waivers survive final Mifid debate
European disclosure regime for derivatives platforms diverges from that in US
FX Focus trade repository Q&A
Alongside derivatives counterparties and regulators, trade repositories form the final part of a triumvirate that must work together if the European Market Infrastructure Regulation’s trade reporting regime is to begin smoothly on February 12. Leading…
February 12 trade reporting deadline – Failure warning
With the European Union’s February 12 trade reporting deadline fast approaching, few give the market any chance of being fully ready. Participants point to the significant challenge posed by complex reporting rules, and the shortened timeline to…
Barclays hires FX research head for Europe
Former US Treasury official Marvin Barth has joined Barclays to lead FX research in Europe, reporting to Jose Wynne
DealHub names Jyske Bank on FX Distribution Hub
FX technology firm DealHub publicly announces a second bank using FX Distribution Hub, following on from Commerzbank in September
BAML FX spot trader leaves firm
Director and FX spot trader Patrick McInerney leaves BAML
BNP Paribas sees changes in FX sales and trading
Alistair Carter and Pavel Vintin have joined BNP Paribas while Maria Riedel leaves to join JP Morgan
BlackRock threatens to go own way on UTI generation, says industry source
Asset manager takes unusual step of generating unique trade identifiers itself as banks react slowly to challenge
UBS expands Purves eFX role to include rates and credit
Chris Purves now global head of FX, rates and credit, reporting to Chris Murphy
Digital currency platforms emerge as Bitcoin gathers momentum
Recent developments in digital currencies are presenting opportunities for new platform providers
LMAX chief executive predicts FX volumes to double by 2020
LMAX has added offshore renminbi and the Russian ruble to its growing list of currencies as it hopes emerging markets will spark dramatic growth in FX volumes
RMB convertibility will be catalyst to offshore trading, say bankers
Buy-side firms will remain reticent in using renminbi until it becomes a fully convertible currency, despite the progress that has been made in recent months
Credit Suisse hires FX options trader
The Swiss bank is set to take on FX options trader Lotfi Bensassi in a senior role at the firm after he left UniCredit at the end of last year
FX futures set to benefit from regulatory shifts, Greenwich says
Capital requirements, initial margin and mandatory clearing of options and NDFs will boost futures trading
Regulators take differing views on reporting fines
National regulators set penalty rates on Emir non-compliance, with confusing results
No immediate sanctions for trade reporting failures, says FCA
UK regulator willing to give participants time to get trade reporting right after February 12 deadline
Citi and Deutsche take action against staff as FX probe continues
Chief dealer Rohan Ramchandani has been dismissed from Citi, having been on leave since October, while Deutsche has also suspended traders in the US
JP Morgan’s Rohrbaugh takes chair at Fed FX committee
Troy Rohrbaugh, global head of FX and rates at JP Morgan, succeeds Citi’s Jeff Feig as chair of the FX committee in the US
Bonuses will disappoint but job prospects encouraging, recruiters say
Headhunters say banks will look to replenish FX teams but bonuses will likely disappoint this year
FastMatch revamps matching engine to grab market share
Start-up platform has overhauled its matching engine to maximise fill rates and reduce response rates for clients as it seeks to grow volume
Chat room bans could drive traders back to the phone
Several banks have banned the use of chat facilities in response to the FX fix investigations, but some believe the ban may only make communication less transparent