News
Low volatility driving FX turnover down, says Bank of England FX chief
Speaking at the FX Week Europe conference, Michael Cross explains why turnover in FX spot is declining for the first time in a decade
Europe not obliged to follow US on FX exemption, warns senior MEP
The European Parliament's position on FX is that it should be included in the scope of organised trading rules under Mifid, vows Markus Ferber MEP
People moves
Roundup of the latest hires in investment management and central banks
Report blames Corzine’s strategy for MF Global collapse
Chief executive of collapsed broker at fault for risky strategy that destroyed company, House subcommittee says
FX sales manager exits Credit Suisse
The head of the premium solutions and banks team in Zurich is the latest departure from Credit Suisse's FX sales team
Foreign commodity exporters to China seek RMB settlement after US fiscal cliff fears
Foreign commodity firms operating in China are settling via RMB in order to circumvent a potential weakening of the dollar
Margin for OTC products is too high, says Pimco's De Leon
New rules would see OTC markets over-margined while futures may be under-margined. The collateral required to support OTC trading in cleared and uncleared products could have systemic implications.
Confirmation of US Treasury FX exemption brings relief to dealers
After two years of consideration, the US Treasury confirmed its decision to exempt FX swaps and forwards from mandatory clearing and exchange trading on Friday evening
DealHub tackles platform proliferation with distribution product
New hub routes pricing from banks to ECN, multibank portal, single-dealer platform, aggregator and customer APIs through a single interface
Trading places, November 19, 2012
New appointments at Turquoise and OpenLink, while Goldman Sachs sales head makes partner
CFTC should allow voice trading for Sefs, says Chilton
CFTC commissioner also hints that 15-second rule will be amended - and says final cross-border rules will include a new definition of ‘US person’
Tullett Prebon hires ex-Faros trading head
The interdealer broker is expanding its resources as it seeks to use the Chapdelaine business it acquired to build an agency desk
New FX roles under Rohrbaugh at JP Morgan
JP Morgan last month appointed a new head of spot and a new head of forwards as part of a management reshuffle under Troy Rohrbaugh
Thomson Reuters targets retail market with niche data and analytics product
Market data vendor responds to speculation that it is extending its flagship Eikon platform to retail traders
CLS adds Swedbank as a settlement member
The Swedish bank is the latest bank to become a settlement member of CLS, after Lloyds was added in September 2011
StanChart launches offshore renminbi index
Dealer launches non-tradable index to track global adoption of offshore renminbi
Citi offers liquidity to Spotware’s cTrader and cAlgo Platforms
Citi extends liquidity offer to margin trading system
PFSoft launches white label solution for FX brokers
Technology vendor ties up with Lmax to offer liquidity to retail market
Bloomberg to offer FX options after six-month pilot
The vendor's FXGO platform is the latest in a long line of electronic platforms to add FX options ahead of forthcoming regulatory requirements for electronic platform trading
Citi hires Ceemea options trader from RBS
Citi has added Daniel Mitchell to its FX options team and made a number of hires in FX sales
EBS to move EUR/CHF away from decimalisation
Icap's EBS will complete the transition back to half and full-pip pricing on November 26 as data suggests the change has enhanced the depth of liquidity on the platform
BNP Paribas hires in sales and strategy in New York
Three new hires to the FX team at BNP Paribas, from Morgan Stanley, Credit Suisse and Wells Fargo
CLS adds to board with Nolop appointment
Bruce Nolop has been appointed to the board of CLS, the firm announced on Friday
Barclays Asia FX strategy head departs
Head of FX strategy for Asia ex-Japan has left Barclays after just 15 months at the bank