News
Morgan Stanley adds Ortus and Quaesta to FX Gateway
US bank continues expansion of currency manager platform
Global FX division hires Asia-Pacific MD
David Ngai joined the division in Hong Kong on August 1, reporting locally to Mark Austen and globally to James Kemp
Ex-Marex Rose joins Xenfin Capital
FX market-maker Xenfin has appointed Jamie Rose as head of e-FX, starting today
Trading places, August 6, 2012
New appointments at LCH.Clearnet, WMBAA, Forex Club and Calypso Technology
Relief for dealers as Basel reins in capital for cleared trades
Basel Committee addresses long-standing complaints over default fund exposures and client clearing
FXSpotStream gathers pace with start of production trading
Start-up FX price-aggregation service is gaining increasing traction with clients, say liquidity providers
Decline in spot volume driven by low volatility and HFT controls
The fall in FX spot volumes revealed in this week’s semi-annual survey data has been driven by low volatility and new controls on HFT behaviour, according to members of the FX JSC
Deutsche’s FX volumes continue to grow, despite tough Q2
Deutsche Bank’s profits fell from €1.4 billion to €661 million during the second quarter, but the bank’s FX revenue recorded only a small year-on-year decline
Morgan Stanley poaches trading head from Citi
Citi's co-head of FX auto trading has left the bank to join Morgan Stanley
Swift to roll out structured messages for bilateral trade netting
Industry messaging provider aims to streamline netting of non-CLS currencies
Credit Suisse FXPB sales director departs
Martin Bradford has left Credit Suisse, months after the exit of the bank's global head of FXPB
FX spot volumes in decline, survey results reveal
Average trading volumes in the spot market fell across all major FX centres in April, according to turnover survey results
Insight appoints FX strategy veteran as head of currency
Paul Lambert, head of currency at UBS Global Asset Management, will join Insight Investment in September
Ice Futures US hires CME FX veteran
US exchange boosts Chicago presence with appointment of Scott Brusso from CME Group
Lloyds hires two from UBS in Sydney
Paul Bernasconi and Nathan Pederson, both formerly of UBS, have joined Lloyds Banking Group in FX sales and trading in Sydney
Indian corporates head for forex options markets as rupee volatility continues
Indian firms move away from using forwards in a bid to grab upside benefits of future rupee appreciation
Gain hires PFG trading team to boost GTX platform
Gain Capital's GTX institutional platform has hired 10 traders from collapsed broker Peregrine Financial Group as well as FXCM Pro salesman Anthony Scamardella
SG CIB hires buy-side trader
Simon Shooter joins Société Générale Corporate and Investment Banking today to work in FX sales to hedge funds
Mifid amendments threaten HFT platform access
A set of parliamentary amendments to the Mifid review threaten to ban ‘sponsored access’ – a popular route for high-frequency traders to access platforms without going through a prime broker
Trading places, July 30, 2012
New appointments at Rule Financial, Deutsche Bank and Bats Chi-X Europe while BAML loses a strategist and Citi loses an options trader
Scandi status as FX safe haven tempered by liquidity concerns
The Swedish krona has risen to record highs in recent months, but some strategists believe investors should be wary of rushing to Scandi currencies, given their relative illiquidity
FXall acquisition ticks all the boxes, says Mark Warms
Thomson Reuters' purchase of FXall makes sense and will lead to a more powerful combined entity in the FX market, according to FXall's former Europe head
Carry makes a muted comeback as investors hunt for yield
The carry trade showed some signs of resurgence during the second quarter but currency managers remain lukewarm about the strategy in an uncertain economic environment
Morgan Stanley hires FX sales head for Asia
Toru Tokoyoda joins Morgan Stanley in Hong Kong, having worked previously at Nomura, Lehman Brothers and Goldman Sachs