News
Russian banks weigh up benefits of CLS membership
Local liquidity providers are pivotal to CLS success in the ruble, but Russian banks are not yet convinced of the benefits of membership
Trading Places, April 8, 2013
Morgan Stanley loses strategist to Goldman Sachs while money-manager ParamountForex.com hires in sales
ParFX hires Bloomberg's Parr to head business development
Robert Parr joins bank-backed spot-trading platform as it prepares to go live
Commodity trader CF Partners launches first hedge fund
CF Partners, active in the commodities market since 2006, has launched a long/short equity hedge fund after hiring Alvaro Ventosa from Spanish fund manager Cygnus Asset Management
Market complacency over Korean won ‘staggering’
Traders have been slow to react to heightened tensions between North and South Korea
Barclays loses three in FX sales
UK bank sees three departures from its sales team across the globe
Morgan Stanley emerging markets trading head retires
Jens Andersen leaves Morgan Stanley this month, after 15 years at the bank
Dukascopy partners with Forex FS in Australia
White-label agreement gives Forex FS clients access to transparent aggregated data feed
Uncleared margin rules could hold back new CSA adoption
Proposals on the margining of uncleared derivatives trades could dampen take-up of the standard CSA
Volkswagen Brazil chooses FXGO to manage currency risk
German car-maker's Brazilian subsidiary plans to employ Bloomberg's FXGO across South America to manage global currency exposure
Chicago Mercantile Exchange offers retail access to futures trading via MetaTrader 5
Margin foreign exchange trading company gains approval to connect to Chicago exchange
Euro bearishness reawakened post-Cyprus
Long euro positions have been unwound following the bailout of Cyprus and many participants now foresee further trouble ahead for the eurozone
Saxo Bank renews focus on e-FX technology after poor 2012 results
Saxo's profits nose-dived last year, due to poor market conditions and a loss of focus. But the retail provider believes the changes it has made have given the business renewed direction
Market divided over standardised approach to algo TCA
The difficulty of comparing transaction cost analysis results across algo products has led to calls for a standardised approach to TCA, but not all agree it is needed
Trading Places, April 1, 2013
Citi wins an FX options trader from Barclays in London, while ex-FXCM CCO James Sanders moves to First Derivatives in the same role and Legal & General grows operations in Europe
Oanda back to basics as tough rules hit retail market
Margin FX trading provider Oanda is shelving plans to expand into the institutional space and is moving its focus back to retail clients
UBS becomes eighth liquidity provider on FXSpotStream
Swiss bank scheduled to be live by late in the second quarter as the aggregation service continues to gain traction, with plans to expand into new products
StanChart hires Darwell from Morgan Stanley
Eric Darwell will join Standard Chartered in New York next month to head up Asian FX trading in the region
MarkitServ upgrades CCP interfaces to enable FX reporting
Middleware provider has revamped the FX clearing interface with LCH.Clearnet and CME Group, to meet CFTC rules requiring CCPs to report
Reyker adds James Chu and looks to expand retail structured product offerings
Former managing director of Incapital Europe, James Chu, has joined bespoke financial service provider Reyker Securities to head its latest structured product distribution initiative
Brics leaders agree to set up $100 billion ‘financial safety net'
Contingent reserve agreement will allow Brics countries to provide each other financial support and will 'contribute to strengthening the global financial safety net'
AIFM directive unlikely to cause significant changes in Cayman
The Cayman Islands Monetary Authority has opened negotiations with Esma on a co-operation agreement on the EU’s AIFM directive. Separately, its consultation on hedge fund directorships has closed
Bloomberg may set up futures exchange
Trading venue looks to hedge its bets if it fails to close the margin gap between OTC swaps and futures
TD Securities loses Asia-Pacific FX sales head
Joe Craven departs the Canadian bank in Singapore