News
ParFX targets buy side inclusion by Q4
The platform will open its doors to non-bank market participants later this year in what will be the real test of its level-playing-field design
Nomura hires senior FX trader in New York
James Lanzilotti has joined the Japanese bank from Credit Suisse
SurfacExchange business development manager exits
Lina Zilenaite has joined Louis Capital Markets in London
CLS membership will allow more ‘flexibility’, says Natixis
Natixis became a full settlement member in May, as CLS continues its mission to expand the use of the central settlement risk mitigation utility
Rolling spot is a swap in retail market, says CFTC’s Chilton
Bart Chilton confirms rolling spot transactions in the retail market renders the contract a swap under the Dodd-Frank Act, but definitions still unclear in institutional FX
Trading places, June 10, 2013
New hires at Goldman Sachs, TraderTools, GFI, ECU and CRT Capital
Questions remain over finer details of Sef rules
The countdown to compliance with the Sef rules has begun following their entry in the Federal Register, but some platforms still have questions over the proposed model for a Sef
FXCM hits record trading volumes
Return of volatility brings traders back to market
MIG Bank launches subsidiary in Hong Kong under MIG Capital Asia
Online broker targets rapid growth in foreign exchange trading in Asia with the establishment of a licensed office in Hong Kong
CFTC files complaint against Banc de Binary for breaching off-exchange options trading ban
Regulator gets tough on online brokers of off-exchange options brokers
Deutsche’s Jason Shell takes sabbatical
David Wayne is relocating to New York to head FX in North America, while also retaining his current role as head of FX derivatives
BNP Paribas beefs up client clearing team
The French bank has made seven new hires to build out its new derivatives client clearing business, including three from JP Morgan
Year-end ‘congestion’ looms for European trade reporting
Buy-side must prepare to meet their FX reporting obligations in Europe, which will be more challenging than in the US, webinar participants warn
Ex-JP Morgan algo head joins BAML
Alex Shterenberg joins Bank of America Merrill Lynch in New York after six years with JP Morgan
Crédit Agricole hires in central bank FX sales
Former FX sales director at Barclays and Deutsche Bank has joined the French bank in London
GKFX backs Rising Sum
Retail broker expands into equity-linked contracts-for-differences with new trading tool
Buy-side vendor Charles River taps 360T for FX
360T to connect Charles River to FX dealers and regional banks, removing the manual processes currently required to trade currencies through its investment management platform
Hedge funds benefit from lower prime broker fees
Hedge funds can lock in favourable rates for prime brokerage services as competition forces banks to rethink pricing, says former BlackRock managing director David Geffen who now runs a consultancy
Consensus lacking on optimal length for randomised pause
The concept of applying a randomised pause to FX trades as a means of deterring disruptive behaviour has garnered support from the users of both EBS and ParFX. But how long should the pause be in order to be effective but not damaging to genuine…
FX prime brokers forced to terminate double give-up trades
Prime brokers have had to cancel four-way agreements for trades involving two buy-side firms, on the basis that a no-action letter issued by the CFTC on April 30 did not cover this type of business
Trading places, June 3, 2013
New hires at Icap, Danske Bank, Nomura and HSBC
ACI to develop new spot FX standards
Industry association plans to complete project by year-end to bring greater clarity to the definition of spot FX across currencies and geographies
IMF gives its verdict on Abenomics
Article IV statement gives ringing endorsement to QQE in Japan; says ‘spillovers' may have adverse near-term effect on neighbours, but will be offset by benefits of economic strength in Japan
Volcker: Regulatory split creates ‘indecision and stalemate’
Division of financial supervision among US agencies is impeding Dodd-Frank reforms, says ex-Fed chairman