News
LCH approved for client clearing on ForexClear
The clearing house expects to begin client clearing for FX NDFs during the first quarter, and has now surpassed $500 billion in cleared volume for interbank NDFs
Could FX volumes bounce back in 2013?
As the central bank FX committees prepare to publish their semi-annual turnover surveys today, trading volumes are expected to have remained depressed in October 2012, but many now expect a recovery in volumes this year
Exchanges converge on INR/USD futures to boost Indian rupee
This month's launch of Indian rupee futures on CME and Ice has been welcomed by traders as an important step in boosting liquidity in the currency
Trading places, January 28, 2013
New hires at SurfacExchange and EBS, while CFTC commissioner Jill Sommers steps down
Global margin standards face further delays
Proposals to collateralise non-centrally cleared derivatives could now be subject to further consultation and impact assessment, having missed the original end-of-2012 deadline
Standard Bank continues e-commerce build with Caplin Trader
The implementation of a new single-dealer platform at Standard Bank will initially cover FX and precious metals, across spot, forwards, swaps and orders
MarkitServ hires senior relationship manager for FX
Jane Collins started at MarkitServ on Monday, having previously worked at Thomson Reuters for seven years
Citi prepares to go mobile with Velocity platform
The bank is testing a trading component for the mobile version of its Velocity platform, which will allow users to manage orders, and eventually execute on live rates, remotely
FXCM enables cross-asset margining via Phoenix
Online broker to roll out new trading platform to access exchange-traded and foreign exchange products
Saxo opens office in Istanbul
The Danish bank solidifies its presence in Turkey with a new office, headed by Egemen Kaya, formerly head of emerging markets and precious metals
360T licenses GFI Fenics for options pricing on Tex platform
The Fenics ePricer engine will support options trading on 360T's Tex platform as GFI Fenics broadens out its client base to multibank platforms
Five down in FX at Morgan Stanley
Spate of departures from the FX business in London coincides with the bank's cull of 1,600 jobs
Institutional sales head exits Alpari
Mark Davison is leaving Alpari in London after just over two years as global head of institutional sales
UniCredit hires ex-BNP Paribas FX sales chief
The French bank's former head of institutional FX sales joined UniCredit in London on January 14
Peter Rading exits RBS
Co-head of fixed income, currencies and commodities and global trading is leaving RBS after 22 years
CLS squares up to member onboarding challenges
Having added Swedbank and Lloyds as settlement members in the past two years, CLS has committed itself to further expanding its membership as well as its currencies
Traders braced for further yen weakness ahead of BoJ meeting
Many market participants were caught unawares by the sharpness of the yen's fall in recent weeks, but all eyes will be on the currency's reaction to this week's Bank of Japan meeting
Trading places, January 21, 2013
New appointments at Oanda, Barracuda FX and Deutsche Bank
Axa IM to move FX execution to TradingScreen as it phases out FXall
Axa Investment Managers aims to be live for FX on TradingScreen TradeEMS in two months’ time, having decided it needed more sophisticated tools than it was getting from FXall
Management changes announced at Oanda, Gain Capital and speculated at CMC Markets
Retail-focused trading companies shift strategies to new market and regulatory environment, while Cruddas tipped to return to chief executive post at CMC Markets
Mexican peso futures trading up 24% on CME
Following an 8% rally against the US dollar last year, CME's Craig LaVeille says the unit should continue to provide trading opportunities in 2013
Gain Capital hires new chief for GTX
The former head of Knight Direct and founder of EdgeTrade is joining Gain Capital to head its institutional FX platform, GTX
DTCC threatens lawsuit over CME SDR plan
The Depository Trust & Clearing Corporation could take legal action to stop a proposed rule that would force CME clearing customers to report to its own SDR
Major online brokers publish fall in volumes and revenues
FXCM and IG Group retail and institutional traders cut activity amid market uncertainty and low volatility