News
Deutsche Bank unveils hybrid blotter on revamped Autobahn FX platform
Deutsche’s new single-dealer forex platform centres around a trade blotter that allows users to manage their voice and electronic business through a single interface – a first for the industry, the bank says
Barclays reshuffles FX derivatives management team
Adrian McGowan has relocated from Singapore to London to head FX options and forwards, prompting several FX management changes
Del Missier renews pressure on BoE over Libor scandal
Former chief operating officer of Barclays Bank says he was told instruction to submit lower Libor rates came from Bank of England; directly contradicts Bob Diamond’s testimony
UBS appoints EM FX options head
Robert Diehl, formerly of Royal Bank of Scotland, will join UBS in September, initially in Zurich before moving to Singapore early next year
PFGBest bankruptcy fuels calls for stronger protection of customer funds
The collapse of Peregrine Financial Group, which comes just nine months after the bankruptcy of MF Global, has raised the pressure on US regulators to boost protection of customer funds held by futures commission merchants
Trading places, July 16, 2012
New appointments at Deutsche Bank, Barclays and FxPro
Bloomberg connects to CME for NDF clearing
Bloomberg has connected its FXGO platform with CME Group to enable NDFs traded on its platform to be cleared through the exchange
FX clearing clock ‘ticking’ following CFTC-SEC swap ruling
Speakers at FX Week USA expect this week's agreement on swap definitions by the CFTC and SEC will drive a rush to comply with FX clearing mandates
EBS clamps down on disruptive behaviour with new dealing rules
The platform will more closely monitor practices such as flashing of orders as part of an effort to incentivise liquidity enhancement and drive out disruptive behaviour
Nomura creates new FX correlation business
Emerging market options head Will Johns is promoted to run FX correlation in London
Oakley to leave Thomson Reuters
Financial regulatory head will leave Thomson Reuters at the end of this month after 12 years
FX sales veteran departs Nomura
Jake Rue, who most recently worked in structured FX sales, has left Nomura in New York
FXall fills gap in Thomson Reuters’ forex portfolio, says Jas Singh
Speaking at FX Week USA conference, Thomson Reuters FX head says the acquisition of FXall has been on his personal agenda for four years, but has taken time to push through
Lack of governance to blame for Libor scandal, says IMF official
A failure of bank governance is behind the recent Libor rate-fixing scandal – and these kinds of failings could pose systemic risks, says José Viñals
Platform proliferation branded unsustainable as Tullett/Integral venture launches
The frenzied round of FX trading platform launches will undoubtedly lead to a round of consolidation, with less successful players squeezed out of the market, argue FX Week USA speakers
FX market a challenge for CCPs, says New York Fed official
Central counterparties might struggle to implement clearing solutions for the FX market, says Jeanmarie Davis
New CPSS/Basel guidance on FX risk management to be published soon
A new consultation paper on risk management practices in the FX market will be released in the third quarter – and may be published as early as this month
Thomson Reuters' FXall acquisition raises industry questions
Acquisition of FXall by Thomson Reuters for $625 million has sparked a number of questions, not least over the future of chief executive Phil Weisberg
Regulators leave door open for FX exemption from margin rules
A senior group of regulators has recognised the possible case for an exemption from margin rules for non-cleared FX swaps and forwards - but possibly not those of longer maturities
WGMR margin rules borrow heavily from US proposals
Working group publishes proposed margin rules for uncleared trades – bringing global rules in line with an earlier US proposal
Aligning with the new world
The turbulence surrounding the eurozone sovereign debt crisis continues to offer up opportunities to traders willing to think laterally.
Thomson Reuters to acquire FXall by Q3
Thomson Reuters and multibank platform FXall say they have complementary customer bases and good relationships with bank liquidity providers
Eurozone tension expected to cross the Atlantic
Attention of FX market participants is beginning to shift to the effects of the US presidential election and the impending "fiscal cliff"