News
BMO expands FX business with four global hires
Canadian bank makes two senior strategy hires from Citi and Crédit Agricole, and expands FX sales team
Swap dealers struggle with Isda protocol compliance
Failure to meet deadline for earlier protocol puts banks on the back foot for compliance with next round of rules
Trading Places, May 20, 2013
CIBC wins from Barclays in sales, while Citi loses in precious metals
Traiana announces first futures commission merchant live on CreditLink
Traiana completes production testing with futures commission merchant on pre-trade hub that aims to provide clearing certainty
Sharp drop in yen will destabalise markets, warn traders
Observers concerned over potential impact of rapid yen depreciation. However, others say effect will be limited to currencies in Asia
Alpari New Zealand registers in St Vincent as new rules come into force
Retail broker changes jurisdiction to retain trading terms as new rules come into effect in New Zealand
Market relief as CFTC approves final Sef rules
Request-for-quote rules are watered down and voice broking allowed to continue under final Sef rules from the CFTC
Japan to drive 36% rise in retail foreign exchange volumes in 2013
Yen volatility to drive $380 million a day in global retail FX and CFD market in 2013
Japan's Mizuho joins CLS Aggregation Services
CLS and Traiana-backed aggregation engine extends global reach with addition of Japanese bank
Retail brokers report record volumes in the Middle East
Local investors are turning to FX in search of better yields, and are becoming increasingly sophisticated about how they trade. FX Week talks to banks and brokers in the region
FastMatch launches matching engine in London
The FXCM venture, which uses Credit Suisse technology and has backing from BNY Mellon, aims to offer real-time spot FX pricing in Europe
CVC-Betfair deal collapses
CVC’s potential takeover of gambling group Betfair has collapsed, with both sides unable to agree on financial terms.
BNP Paribas releases corporate trading platform
Bank's digital strategy combines tailored solutions for specific client types with an 'app store' model
Buy-side take-up of execution systems threatens ECNs
As buy-side firms reorganise their execution desks, multi-dealer platforms may need to rethink their position in the FX market
UBS loses Francis in FX sales
Sally Francis resigns after 12 years at the Swiss bank
Eagle departs Marex Spectron
Global FX head set to leave the broker in the summer
EBS Direct begins beta testing with four liquidity providers
Icap's push into disclosed FX liquidity takes a further step as EBS Direct enters beta testing
EBS veteran Faulkner joins Integral
Technology vendor's hire of David Faulkner reverses flow of staff from Integral to EBS
Traders surprised by Australian rate cut
Reserve Bank of Australia's decision to cut interest rate to 2.75% came earlier than traders expected
Trading Places, May 10, 2013
Citi hires in options sales, Morgan Stanley's Marfat joins BNP Paribas, while Oanda appoints a new chief executive in Asia-Pacific
Banks welcome EBS latency floor
EBS consults on a new approach it hopes will reduce the advantage of super-fast trading algorithms
Start-up 7Hedge plans to take FX spot to exchanges
New company led by market data veteran Rafah Hanna and former Gain Capital salesman Michael Siwek plans to help exchanges develop FX spot capability
Thomson Reuters launches real-time FX data for RMB
Traders get access to collective volume data for offshore and onshore renminbi for the first time
New global FX options head at Credit Suisse
Joerg Schmuecker takes on new role in private banking and wealth management