News
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
Fair Trading Technology appoints four board members
Singh, Maasland, Vollemaere and Pounds join board of retail trading technology company
CLS hits new record as FX volumes spike
Almost three million payment instructions were settled by CLS on Tuesday following a surge in trading volumes towards the end of last week
SurfacExchange chief exits
Evgeni Mitkov, the first chief executive of FX options platform SurfacExchange, has left the firm less than two years after the platform launched
Hedge fund sales head to leave Commerz
Mark Cudmore will leave the German bank at the end of August, after two years in the role
Haitong Futures deploys FlexFutures trading platform
Chinese broker moves to match demand for local futures by qualified foreign institutional investors
FCStone fined $1.5 million for risk controls failings
Futures broker suffers $127 million in losses following risk management failing in client account
Ex-NAB Pragastis joins property fund
Tom Pragastis joins Australian start-up fund as executive director and chief information officer
Neill Penney joins Thomson Reuters under Weisberg
Morgan Stanley's former head of FX product strategy joined Thomson Reuters yesterday, where he will be working once again for Phil Weisberg
KC Lam exits CME in Asia
Exchange group merges FX and interest rates coverage in Asia-Pacific
Westpac partners with Broadway Technology for aggregated solution
Australian bank replaces in-house aggregation tool with a white-label offering to increase capacity
China's red tape reduction could lead to wider CNY trade band
Chinese regulator Safe's efforts to simplify investment into the country seen as a further sign of renminbi liberalisation
Banks struggling with European reporting rules
Reporting infrastructure built to fulfil Dodd-Frank requirements will need to be revamped to meet Emir standards, say banks
Trading Places, May 27, 2013
BAML and Nomura build in sales, while technology firm Orc Group appoints a new president for its Americas operations