News
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
Trading Places, April 29, 2013
Bank of America Merrill Lynch gains in FX sales, while Deutsche loses its head of e-FX trading
Client clearing not a priority for buy side
Clearing houses LCH.Clearnet and CME are extending their interbank FX clearing services to clients, but firms are showing little interest in clearing before they have to
FXCM launches unregulated FXCM Markets
Margin foreign exchange broker targets traders outside of US, Canada, UK, France, Germany, Australia and Japan
Betfair rejects CVC-led £912m takeover bid
A £912m takeover offer led by CVC Capital Partners has been rejected by UK–based online gambling business Betfair
Gain rejects FXCM, buys GFT for $107 million
FXCM's $195 million offer has been rejected, and Gain instead seals an acquisition deal with GFT
France leads eurozone in Chinese renminbi payments
Aims to promote Paris as an international hub for the renminbi are paying off, as France sees a 249% increase in yuan-denominated transactions
EBS and Moscow Exchange unveil plans for dollar-ruble fix
EBS says venture comes in response to market concerns about methodology of existing rate
RBS loses FX sales head to Standard Chartered
Mark Webster joins Standard Chartered as global head of FX sales
TD Securities hires head of European FX
Management hires at the Canadian bank continue as Perry joins from Morgan Stanley in London
Royal Bank of Canada appoints global head of FX options
Former Credit Suisse trader takes top options role at RBC Capital Markets in London
ADS teams with Pioneer to build presence in London
Middle East specialists white-labels to Pioneer Trader to grow its footprint in the UK, Europe and the US
Forum supports board of approval to vet Russian nostro banks
Participants at the International Ruble Settlement Forum agree initiative needed to promote use of real-time settlement in Russia
CLS appoints five new board members
New directors at the industry settlement utility selected from a variety of senior advisory and operations roles at major banks