News
LCH.Clearnet approved for five new currencies on ForexClear
LCH's new FX clearing service now offers clearing in 11 currencies, accounting for 95% of the global NDF market
SmartTrade plans upgrade to LiquidityFX aggregation tool
Liquidity management technology vendor will add several new functions to its new aggregation system by the end of this year
BNP Paribas hires sales head for North America
Former Nomura salesman has joined the French bank in New York, reporting locally to George Nunn
TD Securities hires options trader from RBC
New trader started at TD earlier this week and reports to William Kellett
StanChart options duo joins ANZ
Two senior forex options traders that left Standard Chartered in July have joined ANZ in Singapore and New York
Credit to remain a dominant theme in FX, says Traiana’s Coyne
Closer scrutiny of credit relationships has become a major trend in the FX market, leading to initiatives such as the Kill Switch, which has already been used to shut off the activity of a prime broker’s client, reveals Traiana chief executive Andrew…
Currency cliff-hedging
Imran Ahmad, emerging markets FX strategist at Royal Bank of Scotland in London, suggests a hedge against slowing US growth next year in the absence of a quick resolution to the US economy's fiscal issues.
EBS adds to product team with senior hire
Eisso VanderMeulen joins Icap in New York to work on EBS product development
Trade reporting pressure increases as CFTC deadlines loom
DTCC data repository has received provisional CFTC approval, just three weeks ahead of mandatory reporting for credit and rates, with FX reporting due to begin in January
Saxo marks 20 years with staff party in Egypt
Danish investment bank Saxo Bank celebrated its 20th birthday last week by flying its staff to Egypt for a party hosted by its co-founders
FX committees prepare for platform proliferation
Monitoring trading volumes in the foreign exchange market is an important priority for the central bank-sponsored FX committees, but if liquidity fragments across a handful of new trading platforms, could that analysis become more difficult? Miriam Siers…
Trading places, September 24, 2012
New sales hires at BNP Paribas and Deutsche Bank, while RBS loses its head of FX sales for North America
UBS sales head for southern Europe departs
The Swiss bank is moving parts of its FX sales team in Lugano back to London as the head of FX sales for the region leaves the bank
Four down in FX at Credit Suisse
Credit Suisse has this month seen four director-level departures in FX sales and trading in Singapore, London and New York
CME’s new swap future uses Goldman Sachs patent
Licensing agreement could be worth up to 20% of revenues from patented contract, and is seen as an attempt by Goldman Sachs to hedge its bets as new rules threaten OTC market profits
FX futures and options volumes soar on CME
While volumes are down year-on-year, September has seen a number of record days on CME Group, particularly in currencies such as the Canadian and Australian dollars and the Mexican peso
Barclays FX salesperson quits for JP Morgan
A second member of Barclays' northern Europe and Switzerland FX sales team has left the bank to join JP Morgan
European OTC clearing documentation faces delay
Complications over close-out mechanisms and segregation models will delay the European addendum by up to three months, say dealers
CFTC cross-border guidance a threat to ‘systemic stability’, say Asian regulators
Leading regulators from across Asia complain of the potentially negative impact of the US regulator’s latest proposals
Hedge funds moving more assets into prime custody accounts with active management
A move to separate custody accounts since the financial crisis has turned into a major trend with hedge funds now placing a growing portion of their unencumbered assets with prime custodians.
FX Concepts’ Taylor turns bearish on US dollar
The head of $3 billion hedge fund FX Concepts says the Federal Reserve’s open ended quantitative easing programme will drive the US dollar lower in coming months.
Icap's EBS prime-brokerage head departs
David Faulkner, a nine-year veteran of Icap's EBS, has left the interdealer broker
Portware hires three to grow product and sales coverage
Trading technology vendor makes three senior hires to focus on the client experience and meet growing demand for Portware FX
Happy birthday, CLS
Central settlement utility CLS hits its 10-year anniversary this month