News
BIS: FX OTC markets hold steady, despite regulatory uncertainty
Semi-annual BIS survey reveals a rise in FX OTC derivatives transactions in the second half of last year
Japan trade captivates macro hedge funds
Top hedge fund managers at the Salt conference in Las Vegas are brimming with enthusiasm for Japanese equities as Abeconomics helps weaken the yen and boost economic growth
FXCM and Gain Capital report sharp rise in Q1 revenues
Margin foreign exchange brokers signal a recovery in activity with a sharp rise in first quarter revenues
Commerzbank expands FX sales team in London
Commerzbank builds in FX, hiring salespeople from Société Générale and Credit Suisse
Forex brokers brace for DDoS hacker attacks
While financial software providers offer protection against web attacks, the peculiarities of foreign exchange mean brokers might have to create bespoke solutions
Monex to launch tradable in Japan
Trading app platform enters largest retail FX trading market
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
NAB promotes new global head of FX trading
Former FX global capital markets head David Jones replaces Tom Pragastis at NAB in London
BAML hires emerging markets head from Goldman Sachs
Bank of America Merrill Lynch has hired another senior FX player from Goldman Sachs, following the appointment of Jim Coulton announced earlier this week
BAML reshuffles rates and currencies
US dealer hires from Goldman Sachs, JP Morgan, Morgan Stanley and Deutsche Bank as it expands global footprint
CFTC issues reprieve on mid-market disclosure
CFTC issues no-action letters on certain external business conduct standards under Dodd-Frank, but some participants say the relief has come too late
Trading Places, May 6, 2013
Lloyds gains in corporate FX, while trading technology vendor Integral establishes marketing role and BNY Mellon beefs up in derivatives clearing
Banks eye July 12 exemptive order deadline
A CFTC exemptive order expires in July, meaning new regulations could capture a broader range of clients as US persons
Banks face tough decisions in platform programming
Some market participants are calling for greater use of programming language HTML5 as an industry standard for web-based platforms. But banks say they must wait for clients to catch up before migrating to something new
CFTC investigates breaches of 60-second clearing rule
Commissioner O'Malia says agency has requested data from FCMs – Risk reported last month that some firms had broken rule 1.74
FX prime brokers welcome CFTC relief
CFTC provides last-minute relief for FX prime brokers, having listened to arguments that the market could be seriously impeded by business conduct rules
Gold ETFs can weather latest turmoil as speculative selling eases, say providers
The crash in the gold price in mid-April had dramatic effects on gold ETFs, but some providers say investors' allocations are holding firm
MetaTrader 5 live with Warsaw Stock Exchange (WSE)
Margin foreign exchange broking system adds Polish listed securities
Interdin targets 25% share of Spanish retail foreign exchange market
More brokers look to rapid growth in retail margin foreign exchange trading in Spain
Goldman Sachs FX salesperson departs
US bank sees FX business further depleted with the departure of salesperson in New York
Trading kicks off on new platform MoltenFX
Molten Markets launches electronic communications network in first stage of strategy aimed at the investment management market
Credit Suisse loses in FX real-money sales
Adam Redland resigns after more than three years at the bank
Morgan Stanley loses global head of FX product strategy
Neill Penney, who before joining Morgan Stanley was product strategy head at FXall, has left the bank in London
Nilsson replaces Devo as Lloyds' head of corporate FX sales
Citi's Anders Nilsson joins Lloyds in London to fill role vacated by Colin Devo