News
Trading places, September 10, 2012
New hires at Commerzbank, Citi and FX Solutions
RBS head of FX strategy departs
Robert Sinche, global head of FX strategy at RBS in Stamford, has left the bank this week
Swiss franc expected to retrace its fall as ECB news sinks in
The euro rallied against the Swiss franc for the first time in six months after yesterday’s announcement of new measures from the ECB, but FX strategists expect it to fall back towards 1.20
SNB's continuing resolve drives creativity among Swissie traders
A year after the Swiss National Bank imposed a 1.20 floor on EUR/CHF to stem the appreciation of the Swiss franc, the minimum rate remains in place, driving traders to seek new ways to trade a currency afflicted by low volatility. Miriam Siers reports
EBS reversal on decimals brings relief among traders
Just 18 months after EBS moved to decimalised pricing on major currency pairs, senior bank traders have expressed relief that Icap will return to full pips and half pips later this month
Deutsche Ceemea sales head departs
18-year veteran of Deutsche Bank will leave in late October, after completing a handover to his successor
SG CIB expands in FX sales with string of hires
Société Générale CIB has made four appointments to its FX sales team in London, while ex-FXall Keith Hill has joined the bank this week to head e-FX
Deutsche creates cross-asset platforms business under Amrolia
Deutsche Bank's Zar Amrolia runs a new business focused on electronic platforms across fixed income, while Kevin Rodgers has stepped up to become global head of FX
EBS ditches decimals as part of platform overhaul
Full-pip and half-pip pricing will return to major currency pairs on EBS from September 17, as platform's new management team recognises flaws in decimalised pricing
Trading places, September 3, 2012
New hires at Lloyds and Barclays, while HSBC loses a trader
New buy-side platform targets March launch
Start-up venture BuysideFX will focus on improving FX workflow on the buy side and plans to be live with its first client by March 2013, officials have told FX Week
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