News
Yen volatility drives record turnover, central bank surveys reveal
Volume was up across forex products in the UK and US in April 2013, with just over $1 trillion traded daily in the US and more than $2.5 trillion in the UK
Integral pursues lawsuit against former CTO and co-founder
In a long-running case between Integral and Viral Tolat, its co-founder and now chief technology officer at EBS, Integral alleges Tolat misappropriated its trade secrets
Traiana delivers first NDF trade to LCH's ForexClear
Interbank trade in USD/KRW between HSBC and an undisclosed counterparty is the first Traiana-processed trade to be cleared through ForexClear
BBVA to launch corporate-focused FX platform
Spanish bank will roll out BBVA eMarkets later this year, with an initial focus on FX and money markets, says global product manager Alan Clarke
Patrik Nagel joins 360T in New York
Former FXall and ADS Securities sales head has relocated to New York to join 360T
Liquidity mirage continues in FX, despite platform efforts
Several FX trading platforms have taken steps to prevent price flashing and other disruptive practices, but some participants remain concerned about the quality of liquidity that is shown by platforms and aggregators
Compressed margins put tight squeeze on FXPB
The combination of rising costs and increased competition in FX prime brokerage has led to a squeeze on margins, but as the business attracts a wider range of clients than ever before, there is still clear demand for those that can afford to keep…
Corporates remain lukewarm on offshore RMB, despite reported growth
Data released from Swift this week suggests international trade settlement in RMB continues to grow, but corporates aren't so sure
Citi loses in e-FX sales
Eugenia Hanoune, head of e-FX sales for Emea, sees a number of departures from her team in London
Volcker rule is driving reluctance to hold risk, warn currency managers
US banks are holding less risk as they prepare for the requirements of the Volcker rule, leading to more short-term volatility and less liquidity in some currencies
NAB expands e-FX sales team
New hires in London and Sydney for National Australia Bank, following the recent promotion of Justin Geaney to head of Ficc digital
Revolving doors in FX at BAML
Bank of America Merrill Lynch loses in FX sales in Paris, but hires in FX spot trading in London
Digital Vega to add non-deliverable options to Medusa
NDOs in testing on Medusa platform as some market participants begin to consider alternatives to deliverable FX options that could be more easily cleared
GFXD beefs up with senior European hire
Andrew Harvey joins global FX division from Morgan Stanley, tasked to focus particularly on Mifid, Emir and the FTT
Newedge appoints China sales head
Jennifer Wang joins Newedge from DZ Bank
Libor scandal makes it tougher to hire forex traders
Banks are staffing up for a livelier foreign exchange forwards market, but taint of Libor rigging is limiting pool of new traders
Goldman Sachs salesperson joins Deutsche
Deutsche Bank adds to its FX investor sales team in New York with a senior hire
LSE's Eden joins Traiana
Traiana takes on new head of product management
Tradition-Icap ramps up FX options offering with RFQ product
Broker is adding VolCall to its Volbroker platform in the hope of taking more of its options business electronic
Industry set to miss CFTC deadline on intermediated FXPB
The deadline for FX agency desks and prime brokers to find a solution to the allocation of Dodd-Frank external business conduct responsibilities expires today
Retail brokers concerned about capital hit to CFDs
Brokers offering CFDs face the prospect of having to raise additional capital to hold against CFDs, leading them to question the product's future
Traiana and MarkitServ in turf war over pre-trade screening
Competition between the two vendors increases as they both seek to gain market support for their respective credit screening and clearing certainty products
Ian Axe steps down from top role at LCH.Clearnet
Chief executive to leave LCH after two years; other moves at JW Partners, Goldman Sachs and Nomura
Katz departs BNP Paribas to join ANZ
Australian bank adds veteran FX trader Jason Katz to its emerging markets team