News
Credit Suisse's US trading head departs
James Lanzilotti is leaving Credit Suisse in New York after less than a year as head of FX trading for the US
TraderTools adds order management to hosted aggregation service
New functionality is aimed at regional banks without 24-hour trading desks that need a third party to manage resting orders overnight
Trading places, March 4, 2013
Major new hire at LCH Clearnet, while a sales trader exits Bank of America Merrill Lynch in London
Sub-Saharan African currencies gain traction
The search for yield in currency markets is leading investors into new emerging market currencies in sub-Saharan Africa, according to banks focused on the region
FxPro exits Australia as retail rules come into force
Margin foreign exchange brokers in Australia come under increasing regulatory pressure
Let swap platforms trade futures – Icap’s Spencer
Icap's chief executive says proposed derivatives rules are reinforcing exchange monopolies
Saxo Capital Markets expects Latam retail trading revenues to grow 30% in 2013
Mexico, Colombia and Chile cited as key markets by director, Luis Pereira
Sterling expected to slide further after UK downgrade
FX traders and strategists believe the pound still has further to fall, having already depreciated significantly against the dollar since January
EBS launches Indian rupee fix and spot USD/INR
FX platform adds Indian rupee capabilities as it seeks to break the monopoly held by rival Thomson Reuters in the region
Goldman Sachs loses 15-year FX veteran
Managing director and head of EM FX trading for Emea has left the US bank in London
Lufthansa treasury manager exits for RBS
Douglas Pelton is leaving the German airline to join Royal Bank of Scotland in corporate FX sales
Bank of England swap line expected to fuel RMB growth
The creation of a swap line with the People's Bank of China should lead to greater confidence in the offshore renminbi market, according to traders and strategists
CLS continues hiring spree with new legal head
Alan Marquard, formerly head of legal at Absa Capital, has been appointed chief legal officer at CLS, starting on Monday
Perception of EM risk reduced by central bank safety net - investors
Large foreign exchange reserves held by emerging market central banks makes investing in those countries attractive, say panellists at FX Invest Europe
Euro's future unaffected by turmoil in Italy, say panellists
The results of Italy's election may have created uncertainty, but the eurozone's future remains intact, according to speakers at the FX Invest Europe conference
Currency war scenario ‘exaggerated’, warns senior Swiss economist
Central banks are pursuing domestic priorities and are not engaged in competitive devaluation, says keynote speaker at FX Invest conference
Barclays launches client aggregator in response to fragmentation
Gator smart order routing tool has been tested internally by Barclays spot traders for more than a year, and is now being rolled out to clients
EBS hires Richard Kerschner from CLS
Kerschner, who had been at CLS since 2010, takes on the same role – chief corporate development officer – at EBS
Integral targets institutional buy side with InvestorFX platform
New platform launch from Integral is targeted to meet the specific needs of investment managers trading foreign exchange
Industry disappointed by Basel persistence on margin
Lobbyists express concern that regulators appear intent on requiring variation margin to be posted against FX swaps and forwards, despite the costs involved
Bank of England to establish RMB swap line
Ten months after the UK government launched an initiative to make London a centre for offshore renminbi business, the Bank of England has started much-anticipated discussions over a renminbi swap line
NDF traders face up to Sef reality
Non-deliverable forwards are likely to be mandated to be traded on swap execution facilities before any other FX products, but are traders ready?
Trading places, February 25, 2013
New hires at Institutional Liquidity, Legal & General IM and Rule Financial, while GFI Group appoints new chief executive
FastMatch volumes up as BNY Mellon takes stake
The custodial flow from BNY Mellon will help to attract more participants to the growing platform, according to FastMatch chief executive Dmitri Galinov