News
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
Central banks grapple with risks arising from FX reserves
Holdings of foreign exchange reserves at central banks has increased since the crisis, and market participants believe diversification into new currencies could now pick up
Saxo Bank and Gain Capital net profit collapses by 80% in 2012
Online bank and trading companies suffer as retail trading volumes fall amid stagnant markets
EDF Man appoints new global FX head
Ryan Schiff promoted to global head of foreign exchange at broker EDF Man Capital Markets
BoJ's inflation target unattainable, says Nomura
Panellists at Bloomberg event yesterday debated whether the yen will continue to weaken as the Bank of Japan pursues an ambitious 2% inflation target
StanChart revamps electronic trading management
New e-trading group for FX, rates and credit is headed globally by Raymond Koole, and regionally by Chris Knight in Singapore and Pascal Pipponiau in New York
JP Morgan reshuffles Emea FX sales team
Changes at US bank see Max Leffen and Michael Spencer, both take on senior roles in Emea institutional sales team
NAB loses global FX trading head
National Australia Bank's global head of FX trading, Tom Pragastis, is leaving after six years to move to the buy side
New York Fed demands better management of FX risks
Greater use of capital and collateral to mitigate all risks relating to FX trading is crucial, warns Jeanmarie Davis, head of financial market infrastructure at the NY Fed
Thomson Reuters matches EBS with revamped strategy
Icap's EBS and Thomson Reuters have initiated major structural changes over the past year; as they continue to evolve their new strategies, and ParFX prepares to launch with the aim of becoming a third primary venue, further structural shifts are set to…