News
CFTC ‘neglect’ of Sef rules angers platform providers
After missing numerous deadlines to finalise the criteria for Sefs, the CFTC will not publish the rules until late April at the earliest, much to the frustration of market participants
ADS Securities sales head resigns
Patrik Nagel, head of sales for Mena, is leaving the Abu Dhabi-based brokerage, having joined from FXall in 2011
Goldman Sachs loses Asia sales head in Hong Kong
Peadar Ward has left Goldman Sachs, having relocated from London to Tokyo in 2006, and later moving to Hong Kong
FX sales director departs SG CIB
Julia Westcott-Hutton, a director in FX sales in London, is leaving the bank after 15 years
Northern Europe FX sales head exits Nomura
Two departures from the FX sales team at Nomura in London
Complexity and costs of clearing continue to cause concern
Mandatory clearing of OTC derivatives could lead buy-side firms to leave a greater portion of their risks unhedged, warn speakers at a buy-side conference in London
Client funds are safe, claim Cyprus-based FX brokers
Cyprus has become a haven for retail FX brokers in recent years, but the crisis that has arisen from the rejected bailout package this week has unsettled the market
FXall re-hires sales director in Singapore
Shaun Tan will re-join FXall in Singapore next month after two years at ADS Securities, weeks after Wyman Shing left FXall for RBS
‘Easy’ stage of yen decline is over, says Jim O’Neill
Further weakening of the Japanese yen may be more gradual than in recent months, but the yen and the Swiss franc are the only G-10 currencies worth trading, says GSAM chairman
Lloyds hires ex-SG CIB Christophe Coutte
The former co-head of Ficc at SG CIB is joining Lloyds to run the bank's rates business in London
Trading places, March 18, 2013
CRT Capital makes two senior hires in equities, while Esma elects a new board member
CFTC rules on mid-market disclosure put banks under pressure
With just six weeks to go until the deadline for banks to disclose the mid-market price on certain FX trades, banks face considerable technology hurdles to comply
Banks vie for position in taking EM currencies electronic
Electronic trading is beginning to take off for emerging market currencies as banks race to meet client demand for a means of trading EMFX electronically. What unique challenges exist when it comes to e-FX in emerging markets? Miriam Siers reports
Russia remains slow to adopt real-time settlement
Participants believe the development of Russian ruble trading could be in deadlock as a result of the slow adoption of real-time gross settlement by Russian banks
Diverging regulation greatest threat to FX market, say clearers
Speakers from LCH.Clearnet and CME Group at Bloomberg event say differences in regulatory approaches in the US and EU are the biggest threat to growth in FX
CFTC's Gensler defends swaps vs futures margin disparity
Forthcoming Sef rules will not address margin concerns raised by Bloomberg
Sucden launches electronic trading for NDFs
London institutional broker plans to expand into Asia by leveraging commodities background
Haskins joins Nomura to head North American FX sales
Morgan Stanley's former head of emerging market and FX sales for the Americas moves to similar role at Nomura
Credit Suisse strategy head moves to BNP Paribas
Daniel Katzive to join BNP Paribas in New York as head of FX strategy for the Americas
MAS warns on fragmented clearing and reporting
Asian financial markets have made progress in setting up CCPs and trade repositories, but greater harmonisation is needed across borders, Singaporean regulator warns
Singapore eyes regional hub status for offshore RMB
Addressing ACI Congress delegates, deputy prime minister and chairman of the Monetary Authority of Singapore talks up Singapore’s ability to facilitate the growth of renminbi trading outside China
Commodity correlation returning to pre-2008 levels, say analysts
The tight link between commodities and equities is easing as firms become less worried about macro shocks, say analysts
Banks claim €300 billion hole in margin study
Banks call for Basel Committee and Iosco to re-run study on impact of uncleared margin rules after errors emerge
Nalm 2013: Debate rages over how to manage expanding reserves
Central banks enter into new asset classes and alternative currencies but Bank of Israel’s Andrew Abir rejects value of renminbi as a reserve currency