News
RBS reshuffles FX senior management
Tim Carrington and Fabian Shey take joint responsibility for currencies and emerging markets. Meanwhile, Mark Barnes has left the bank
FX veteran Meinnel departs State Street
Meinnel quits State Street after more than 20 years in FX that included senior roles at BNP Paribas and Bear Sterns
Credit Suisse loses global currencies trader in London
Senior FX trader Neilan Govender has left the Swiss bank for a role on the buy side
Lloyds hires global head of corporate FX solutions
Former Barclays sales head joins Lloyds to develop FX risk management offerings for corporate clients
Market questions FXCM's $210 million bid for Gain Capital
Market participants divided over how much value Gain Capital really holds for hostile bidder FXCM
FX Invest North America: Extent of FX exemption still unclear
The US Treasury has exempted FX swaps and forwards from mandatory clearing and reporting requirements, but the extent of the carve-out is still uncertain, panellists at FX Invest North America warned
FX Invest North America: Platform proliferation creates buy-side headache, say panellists
An overcrowded market will lead to platform consolidation, but it is too difficult to predict which venues will survive
FX Invest North America: Central banks ‘getting away with murder’
Central banks are pursuing the wrong policies and will find it difficult to know when to tighten monetary policy, says Axel Merk at Merk Investments
Barclays' Steck joins TD Securities in New York
Tonia Steck, who recently departed from Barclays in New York, will join the Canadian bank in June
Reserve managers avoid Bric currencies despite increase in risk appetite
Central banks look to diversify reserves in search of higher yield, but still consider emerging market currencies too risky
Nasdaq OMX to launch FX clearing in November
Stockholm-based clearing house becomes the latest to announce its intention to enter the FX space
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