News
Likelihood of Grexit diminishes ahead of troika review
As European authorities head to Greece to inspect the country's finances, strategists believe it is increasingly unlikely authorities will allow the country to leave the euro
Credit Suisse hires options trading head for Asia
Former Citi trader has relocated to Singapore to join the Swiss bank
Stressed VAR will hit FX options, dealers warn
Certain forex options and exotics penalised by Basel 2.5, including emerging market currencies and double no-touches
Marex Spectron hires FX algo trading head from Lloyds
Sam Horowitz has joined Marex in London, reporting to Chris Eagle
Optim Invest launches as BNP Paribas IP exits currency management
D'Hautefort revives Overlay Asset Management as Optim Invest, says demand for currency management buoyant
ADS Securities hires senior dealer from Alpari
Bryan Seegers moves from New York to Abu Dhabi to take up senior dealer role at ADS Securities
RMB is gaining traction with corporates, Deutsche survey finds
Smaller companies can realise savings of nearly 5% when dealing with Chinese businesses by transacting in renminbi, says Deutsche Bank
Trading places, August 27, 2012
New appointments at Nomura, Rule Financial and DTCC, while HSBC loses a salesman
The platforms of 2012: Hotspot FX
Knight Capital, the parent company of Hotspot FX, has endured a torrid month following a software glitch on August 1 that cost it $440 million, but Hotspot appears to have weathered the storm. In the second of a series of articles assessing the…
FXall continues product innovation under new ownership
Following the completion of its acquisition by Thomson Reuters, FXall will continue to operate independently until the integration is complete
ABN Amro hires Duff to build FX clearing business
Dutch bank hires industry veteran to launch clearing business in North America
Nomura appoints new global head of FX
Jai Rajpal, formerly head of fixed income for Asia ex-Japan, is promoted to head of foreign exchange at Nomura, reporting to Steve Ashley
Basel settlement risk guidance puts new demands on forex market
Governance, replacement cost risk, liquidity risk, operational risk and legal risk are among the issues FX banks must address, according to newly released Basel Committee guidance
Tradition hires ex-GFI client relationship director
Scott Fitzpatrick, a 10-year veteran of GFI Group, has joined rival interdealer broker Tradition in New York
CME ready to fight for market share in Europe, says Sammann
CME Group's European exchange, set to begin trading FX futures next year, will offer a competitive alternative to other exchanges, says the group's head of FX and rates
Interdealer brokers pick MarkitServ for FX processing
BGC Partners, GFI Group, Tradition and Tullett Prebon have all chosen middleware provider MarkitServ to facilitate connectivity to CCPs and trade repositories, and voice affirmations
LCH readies launch of new NDF pairs and client clearing
Five months after launch, ForexClear is ready to start offering client clearing and to add five new currencies to the service, pending the approval of the FSA and the CFTC
Trading places, August 20, 2012
New appointments at CIBC and Citi, while SunGard's Cristóbal Conde takes on a new role at a start-up technology provider
Shining a light on high-frequency trading
Forex trading platforms are intent on tackling any negative effects of high-frequency trading, but the speed of the practice makes it tough to manage the risks. Robert Mackenzie Smith reports
Alior eyes corporates with new forex platform launch
The Polish bank has partnered with Swedish technology vendor Aphelion to build a single-bank portal aimed at corporates
Countries will leave the euro by 2014, says ACI UK poll
The vast majority of respondents believe at least one country will leave the euro by 2014, but expect the single currency to survive
Martine Bond exits Morgan Stanley
The chief operating officer for FX and emerging markets has resigned from Morgan Stanley and is understood to be moving to State Street
Errors in CFTC extraterritorial guidance to be amended
A CFTC source acknowledges inconsistencies in the proposed interpretative guidance on the cross-border application of Dodd-Frank will have to be ironed out
CLS hires JP Morgan veteran as chief executive
David Puth will become the next chief executive of CLS, starting next week, the settlement risk utility announced today