News
BAML hires FX options head from Goldman Sachs
Bank of America Merrill Lynch makes another FX trading hire from Goldman Sachs as it continues its FX expansion
Asia sales head exits UBS
Louis Curran has left UBS in Singapore after less than 18 months in the role
FXCM buys majority stake in Faros Trading
FXCM continues its aggressive expansion as it acquires a 50.1% stake in FX agency firm Faros Trading, four years after it was established by Ray Kamrath
CLS launches settlement for same-day USD/CAD trades
Settlement risk mitigation firm is due to launch a new settlement session this week for the trades settled on a same-day basis
Gain Capital appoints chief financial officer
KCG's Jason Emerson moves to Gain, while Price Markets hires a new head of FX sales
Industry forced to rethink reporting after Esma rejects GFMA proposal
FX participants must reconsider their approach to dual reporting under Emir, possibly at considerable cost to those already building towards the proposed model
Dovish FOMC risks losing market trust
Federal Reserve's communication over tapering adds to market's growing mistrust of central bank information
Gensler not ruling out targeted Sef relief
CFTC chairman recognises difficulty in meeting October 2 Sef deadline, but says platforms need to be targeted in requests
Molten Markets appoints COO from State Street
John Vause ends more than 13 years at State Street to head operations at the new vendor
LMAX Exchange hires two in sales
Two new senior salespeople will focus on driving growth for LMAX's Interbank offering
FX options head exits Santander
Simon Manwaring has left Santander after a two-year stint and is expected to join a rival bank in a similar role
RBS reshuffles Emea FX sales management
Toby Cole and Robert Godber are promoted to head institutional FX sales in Emea, following recent departures
Sefs questioned on plans for erroneous trades
Swap execution facilities have been rushing to meet an October 2 deadline for registration, but more thought is needed on how platforms will deal with trade failures, say conference participants
FX options clearing a 'big challenge', warns NY Fed official
Speaking at the FX Invest West Coast conference, the New York Fed's Jeanmarie Davis addressed the challenges associated with clearing and settlement of FX options
Mako FX hires Simon Jones to drive platform growth
Citi's former e-FX trading chief has joined spot platform Mako FX as managing partner, with a mandate to focus on innovation and volume growth
FastMatch signs with TMX Atrium for low-latency connectivity
Start-up spot FX platform joins network to lower transatlantic latency and leverage global coverage
Pressure mounts on CFTC for relief on Sef rules
CFTC is being lobbied to grant relief on the contentious Footnote 88, which requires platforms to register as Sefs even if the products they offer are not yet made available to trade
Goldman Sachs hires ex-Citi salesman
New hire in FX sales at Goldman Sachs; other moves at Barclays, RBS, UBS and Credit Suisse
Nasdaq OMX awaits regulatory approval for FX clearing
The exchange's Nordic central counterparty has connected to MarkitServ and is awaiting the green light from regulators to clear G-10 and EM non-deliverable forwards and options
Trade reporting is driving FX options out of the US, say dealers
FX options traders looking to avoid Dodd-Frank legislation have been deliberately changing their trading habits to avoid reporting regulation
BNP Paribas restructures fixed-income management
Changes see global head of fixed-income trading, Guillaume Amblard, become head of the new foreign exchange and local markets group
BAML loses co-head of Ficc trading
Gerhard Seebacher departs, leaving David Sobotka as sole head of the Ficc trading business
Host Capital taps Citi index for retail-focussed currency fund
New UK-regulated fund will invest in Citi's Carry & Value index to provide exposure to G-10 and emerging market currencies
Faulkner exits Integral
EBS veteran David Faulkner has left Integral just four months after joining as global segment head for banks