News
HSBC echoes call for greater official focus on offshore RMB
The FX market's fixation on the crises in the West has led participants to miss out on opportunities in offshore renminbi, and governments should give greater support to the currency’s development, HSBC believes
Emir clearing deadlines remain a challenge, industry warns
Preparing the necessary documentation for client clearing can take many months and could delay clearing under Emir, warn banks and clearing houses
ADS Securities targets HFT with new FX platform
New platform white-labels FlexTrade's systems and is pitched to high-frequency and high-volume traders
Bank of England must promote RMB trading, warns Chinese official
A swap line between the central banks of the UK and China would be a key step towards the growth of offshore renminbi, a former official of the People's Bank of China said yesterday
US regulators fine forex trading companies $1.8m for fraudulent retail FX trading scheme
New York court fines three companies and bans them from trading in off-exchange market
RBS hires FX options head for Americas
Appointment follows the recent departure of Ian White, who joined Nomura as senior FX options trader on November 19
DealHub salesman joins Tullett Prebon
Veteran of Morgan Stanley and DealHub has joined Tullett Prebon to work on the Chapdelaine desk
Head of spot trading exits CBA
The Australian bank has parted company with its London-based head of FX spot trading after 23 years
Credit Suisse cuts staff in FX sales and trading
Five employees are leaving Credit Suisse in London, including the head of European hedge fund FX sales, two spot traders and an options trader
GFT exits retail FX in US and Japan
Retail broker remains in a strong financial position with sufficient regulatory capital, says chief executive Gary Tilkin
EBS a ‘natural fit’ for ClientKnowledge, says CEO Trenner
EBS has acquired FX advisory firm ClientKnowledge and chief executive Justyn Trenner will become global head of EBS liquidity optimisation services
Saxo Bank appoints new head of FX
The Danish bank has promoted internally to fill the role of global head of foreign exchange, following the departure of Ted Voorhees
Agency execution model gains favour for FX trading
Under pressure from new regulations that will constrain balance sheet usage, the agency model is becoming increasingly popular with banks, but agency desks won't escape forthcoming hikes in cost
Thomson Reuters revamps Matching platform
Thomson Reuters has made a string of changes to its flagship trading platform, enabling greater depth of book in four of its most liquid currency pairs
Aussie strength causes problems for corporates after commodities fall
Australian mining companies have historically relied on the correlation between the Aussie dollar and commodity prices as a natural hedge for their AUD exposures, but a recent dislocation has made that hedge less reliable
Trading places, December 3, 2012
Commerzbank loses an options trader while StanChart hires in Asia and SEC's Schapiro announces she will step down next month
Almost $1 billion in MF Global UK client assets recovered
Findings of six-monthly progress report published by special administrator of defunct broker
Newscape Capital launches quant FX fund
London-based Newscape believes investors have too much focus on fixed income and equities and should have more capital committed to the FX market
GKFX selects Gold-i Gate Bridge to connect to liquidity providers
Online broker expands product coverage with new connectivity to liquidity providers
FXall expands in London with three hires
FXall has made three appointments to its sales team in London, all reporting directly to James Watson, head of Europe, the Middle East and Africa
Credit Suisse EMFX options head to join Jefferies
Jefferies Bache has hired a senior trader from Credit Suisse to expand its FX options business in London
NFA takes enforcement action against KS Global Strategies and Khaled Salama
Retail regulator continues to crack down on fraudulent activity
FX e-commerce head departs BNP Paribas
Chester Boles has left the French bank in New York after seven years
Bloomberg launches CNY market data service through Cfets
New service provides live interbank rates on USD/CNY and eight other renminbi pairs, priced from 26 participating banks