News
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
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