News
Trading places, April 23, 2012
FX sales and trading departures from Morgan Stanley, JP Morgan Credit Suisse and Standard Chartered
Fears over regulation raised by treasurers at ACT conference
Corporate treasurers complain about the unintended consequences of the proposed financial transaction tax, as well as clearing rules for OTC derivatives and Basel III capital rules
Slater and Holdcroft to join Bozian in CLS exit
Deputy chief executive officer Peter Slater has resigned from CLS, while both chief executive Alan Bozian and chief legal officer James Holdcroft will also leave the firm
Commerzbank hires quant to head new FX solutions team
Jessica James joins Commerzbank from Citi, reporting to Nick Crawford and Gerald Dannhaeuser
City’s top brass throws weight behind London RMB initiative
London will become the next offshore centre for RMB trading, vows UK chancellor George Osborne, supported by banking chiefs from Bank of China, Barclays, Deutsche Bank, HSBC and Standard Chartered
Algo execution sales head departs Credit Suisse
Jonathan Wykes, formerly global head of FX sales for Credit Suisse’s algorithmic execution business, has left the bank
BlackRock hires Tabb’s McPartland
Kevin McPartland joined BlackRock earlier this month as a director
BNP Paribas divides up the role of its FX options chief
The French bank has split its FX options business into G-10 and emerging markets, following the departure of Simon Nursey
Reserve managers cling to the dollar but shun the euro, survey finds
Many central banks have reduced their holdings of euro reserves and looked to diversify into non-traditional currencies as a result of the ongoing eurozone crisis
Abel Noser unveils new FX transaction cost analysis tool
New York-based technology vendor, Abel Noser Solutions, extends service to foreign exchange transaction cost analysis tool
Bozian to leave CLS
Alan Bozian will leave CLS at the end of April, to be replaced by Gerard Hartsink until the firm appoints a new chief executive
State Street back under spotlight as Connecticut attorney general investigates FX charges
US custodian bank in further pricing setback
Trading places, April 16, 2012
Appointments at Man Group, Renaissance Capital, Icap, TD Securities and Tabb Group, while HSBC loses head of eFX sales for Emea
Middleware providers square up to challenges of NDF clearing
Traiana and MarkitServ are vying for market share in the connectivity business, which is becoming more crucial as participants seek to connect to FX CCPs
Credit Suisse loses head of FXPB
Paul Houston, Credit Suisse's London-based global head of FX prime brokerage, has left the bank
Nomura appoints new FX structuring head
JP Morgan veteran Tim Owens has joined Nomura this week as global head of FX structuring
Currency floor breach raises questions over SNB policy
The Swiss National Bank should consider enlisting the help of top-tier banks to keep EUR/CHF above 1.20, forex traders suggest
FXall enters monthly volume contest with strong March results
Average daily volume on FXall in March was $90.4 billion, up 9% on March 2011
Veteran EM trader exits RBS for the buy side
Eric Lieberson has left Royal Bank of Scotland after 17 years, to join Civic Capital, a New York-based advisory firm set to launch a hedge fund later this year
Goldman Sachs sales director departs for Nomura
Evren Pacalioglu Tore has left Goldman Sachs and will join Nomura later this year
A spot of bother
Traders exploiting the spread between CNH deliverable forwards and CNY NDFs got a nasty surprise in September last year, when the basis trade blew up amid a reversal of the spread. Georgina Lee looks at what investors can learn from this turn of events
Trading places, April 9, 2012
Departures from JP Morgan and Morgan Stanley, while Deutsche Bank appoints a salesman from Credit Suisse
Frontier currencies gain traction with investors
FX strategists and currency managers report growing interest in frontier currencies such as the Kenyan shilling, Ugandan shilling and Nigerian naira
Depressed FX trading volumes continue in March
Average daily spot volume on EBS and Thomson Reuters remained low in March in comparison to previous years, both platforms have reported this week