News
US Treasury poised to finalise FX exemption
A decision to proceed with the exemption of FX swaps and forwards from clearing and exchange trading is understood to have been made, pending final CFTC product definitions expected this week
Reporting challenges remain as repositories move towards launch
Market participants continue to grapple with the challenges of reporting FX trades to a repository as regulatory deadlines begin to loom. Kathy Alys and Melanie White report
Trading places, July 9, 2012
John Moorhouse joins Traiana after leaving FXall, while Citi adds Paula Fry to its e-FX sales team
Amundi signs MIM for currency account
Risk-on, risk-off markets boost demand for active currency management
Currency manager platforms expand coverage of CTAs
Multi-manager platforms are expanding coverage of commodity trading advisers (CTAs), as clients look to gain exposure to this rapidly growing segment, say platform officials.
Schneider FX snapped up by Mexican forex provider
Monex Group has acquired UK-based Schneider FX with a view to expanding its global reach into Europe
Prices diverge as CVA exemption remains in limbo
Dealers face pricing headache as they wait to see whether Europe's version of Basel III will exempt corporate customers from the CVA capital charge
Hassan departs RBS corporate desk
William Hassan, head of UK large-cap corporate FX sales at RBS, has left the bank
Emea sales head exits FXall
FXall has lost its head of sales for Europe, the Middle East and Africa, just three months after the departure of Emea general manager Mark Warms
CME client clearing hits two more currencies
Following the clearing of the first NDF trade through CME Group in late April, the exchange has cleared client trades denominated in Chinese renminbi and the Philippine peso over the past month
FXall unconcerned by late entry into FX options
FXall’s chief executive Phil Weisberg recognises the firm has moved into options later than some of its competitors, but believes it will add value by having options integrated into its platform
ANZ launches China-centric commodity index
Australian bank unveils commodity index in bid to better reflect China market influence
Markets recoil as major central banks ease policies
Chinese, European and UK central banks take monetary policy action; moves leave no doubt about gloomy global economic picture as eurozone stock markets fail to rally
FX Invest July-August edition now live
Managing currency risk in markets dominated by central bank monetary policy
FX sales veteran moves to recruitment
Mike Burton, SG CIB's former head of FX sales, has joined ex-colleague Canice Hogan at recruitment firm Shadowhound
Jerry del Missier resigns in wake of Libor scandal
Barclays COO and long-time derivatives industry figure steps down hours after resignation of chief executive Bob Diamond
Faros appoints Campbell & Co trader to replace Borthwick
Douglas Borthwick, head of trading and strategy at Faros Trading, has left the firm and will be replaced by Michael LaVina
CBA expands in FX sales
Commonwealth Bank of Australia has made two additions to its FX sales team in London
Lloyds combines mid-market and commercial sales management
Matthew Lawrence steps up to run both sales teams as mid-market sales head Kathryn Ball returns to Australia
Esma exemption provides corporate relief
Corporates relieved at Esma clearing exemption, but express concern about uncertainty over uncleared derivatives
FXall enables users to access bank algorithms
New functionality allows clients to route algorithmic and limit order requests to selected banks
FTSE Cürex FX indexes will help transparency, participants say
FTSE and Cürex enter FX index space – and market participants say the indexes will help improve transparency in the foreign exchange markets
QE3 will be positive for GBP
A new bout of quantitative easing might be positive for sterling, but will likely lead to dollar depreciation, argues Adam Cole
Trading Places, July 2, 2012
RBS loses EM research head, BAML appoints new EMEA investment banking co-heads and the New York Fed promotes Potter to markets group head