News
No CVA exemptions in US Basel III rules
Europe isolated as US regulators opt for broad counterparty risk charge
Ex-Credit Suisse FX client adviser to join Cambridge Associates
Adam Duncan will join advisory firm next month; new role in London for Robert Mandeno at Deutsche Bank
‘Sef-lite’ environment remains confusing for platforms
Market participants still unclear on the implications of the requirement for multibank platforms trading non-cleared swaps to register as swap execution facilities
Nomura loses e-FX sales head in New York
Ralitza Fortunova has left the Japanese bank after three-and-a-half years
StanChart hires FX salesman from Lloyds
Richard Turner has joined Standard Chartered's investor sales team under Declan McEvoy
JP Morgan loses FX options trader
David Pennell is leaving the US bank after nine years
Business as usual for Hotspot under new ownership, says platform chief
Delivering technology to tackle client problems is central to the mission of KCG, the new parent company of Hotspot FX, according to Albert Maasland, head of global execution services and platforms
BNP Paribas hires two in FX strategy
Phyllis Papadavid and Daniel Katzive join in London and New York, respectively
Thomson Reuters acquires Tradeweb FX options platform
Clients of the Tradeweb platform will migrate to FXall where they will get "more diverse access to liquidity", says chief executive Lee Olesky
Svante Hedin leaves JP Morgan
US bank is now looking to replace its head of FX automated trading strategies
FX clearing driven by capital and collateral costs rather than mandate
As mandatory NDF clearing has been delayed, the likely increase in capital and collateral requirements for FX trades is forcing some to consider clearing ahead of the mandate, say webinar participants
Traiana COO joins EBS as head of sales
The position of global head of sales is filled by Gerard Varjacques, who joined Traiana from SunGard in 2011
SurfacExchange faces uncertain future
Market participants report the multibank FX options platform that launched in mid-2011 has gone quiet in recent months following the exit of its chief executive
Options platforms struggling with dearth of liquidity takers
Some FX options platforms have struggled to gain traction in a new and untested market, but banks say the problem is one of low demand for, rather than provision of, liquidity
Trading places, July 1, 2013
Exits in FX trading from Credit Suisse and Goldman Sachs
CFTC bows to agency desk concerns with further relief letter
In a time-limited relief letter issued yesterday, the CFTC recognises concerns expressed by agency firms over the implications of the external business conduct rules
BAML hires ex-BNP Paribas spot trader
Colin Devereux has joined Bank of America Merrill Lynch in London
Rise in fraud prompts system upgrades for retail brokers
Brokers with weak anti-fraud protection in place risk a detrimental impact on the rest of the industry, participants warn
SEB options trader moves to Danske
Christian Törnqvist will join Danske later this year, while Anna Norström is also set to join in FX sales
BNP Paribas hires ex-Morgan Stanley sales head
Nick Strain has joined the French bank's institutional sales team in Singapore, having left Morgan Stanley in Hong Kong earlier this year
IG to roll out MetaTrader 4 alongside proprietary platform
New platform is to be implemented with a pilot group of clients next month and then rolled out fully in August, says chief executive Tim Howkins
Renminbi swap line expected to boost CNH liquidity
The recent agreement on a swap line between the UK and China will be a positive step for the nascent offshore renminbi market, although questions remain over how it will work
Sefs worry MAT rules will create ‘race to the bottom’
Tradeweb and other would-be Sefs say they have been given too much power to decide which swaps are mandated to trade on platforms
Trading places, June 24, 2013
New appointments at the Bank of England, the SEC and the Bank for International Settlements