News
Afme liquidity conference: Buy side pushes for greater control of FX execution
Tools such as transaction cost analysis and execution management systems, traditionally deployed in trading equities, are becoming more important for buy-side FX traders, says Axa IM’s FX trading head
Greatest risk of regulatory arbitrage is for non-cleared FX, says Esma's chair
Bilateral collateralisation might not be applied to FX swaps and forwards under the Dodd-Frank Act, but will be applied in the European Union, says Steven Maijoor
HSBC builds out London RMB centre
Key appointment made to drive growth and strategy for the development of London as an offshore renminbi trading centre
Bonus season sees mixed results for US bankers
Recruiters covering the foreign exchange market report better-than-expected bonus packages at Citi and JP Morgan
Corporate backlash on costs of regulation continues
Banks will not be able to avoid passing on the hefty costs of regulatory reform to their buy-side clients, argued participants at the ACI UK’s annual square mile debate
Swiss franc surge tests SNB resolve
Traders and strategists expect the SNB to defend but not raise the 1.20 floor on EUR/CHF, despite the spot rate having come close to the floor in recent days
Welsh and O’Sullivan head FX at Jefferies
Ben Welsh heads FX in New York, with Dan O'Sullivan as head of FX trading
Trading Places, February 6, 2012
New appointments at Louis Capital Markets and Adrian Lee & Partners, and promotions at JP Morgan and Rosbank
Algos must be prepared for risk events, experts warn
Safeguards are needed for algorithmic execution tools to navigate risk events such as platform outages
Ex-MF Global broking head appointed CEO of Saxo Australia
Anthony Griffin is appointed chief executive of Saxo Bank's newly opened operation in Sydney
Barx architects unveil MahiFX retail platform
David and Susan Cooney, who both worked on Barclays Capital’s flagship e-commerce platform in its early days, expect MahiFX to be available for trading later this month
Bric currencies dependent on Chinese policy on renminbi, says L&G strategist
Brazil, Russia and India see China as their main competitor and will wait until the country allows appreciation of the yuan before they follow suit
Ben Homsy departs JP Morgan
Head of European hedge fund sales is relocating from London to Canada for personal reasons
Acquisition of Thomson Reuters risk business closes
Kondor+ product suite will now be known as Turaz, and will be 100% owned by Vista Equity Partners, with Bret Bolin as president and chief executive
Amol Devani quits options role at Goldman Sachs
Head of FX options in London leaves Goldman Sachs after nearly four years, having joined the bank in 2008
Basel guidance on settlement risk delayed until June
Updated guidance on FX settlement risk from Basel Committee and CPSS was originally due by end of 2011, but now has an expanded remit
Trading places, January 30, 2012
New appointments at UniCredit, BAML, SG CIB and FXecosystem
Strategists adjust processes to forecast politically driven currencies
Most FX market participants recognise the growing importance of politics in driving the direction of major currencies as a result of the eurozone crisis. But how do FX strategists digest the multitude of political statements and developments when making…
Icap's Spencer: 'not a prayer' of UK agreeing to FTT
Proposed EU trading tax would be vetoed by UK, says Icap's Spencer - if not, the broker will move its London HQ to New York
Ashraf Laidi joins City Index
Former CMC strategist will continue to run his own start-up consultancy in addition to his new role
Fusion AM pitches FX liquidity hedge to corporates
Options-based strategy was developed after a request from a large European exporter, and protects corporates from the liquidity risk arising from volatile currency moves
Mettler retires from Morgan Stanley
Stephen Mettler, who runs Morgan Stanley's interest rates and foreign exchange business, is leaving the bank
Emir set for Q2 completion, Barnier insists
Trialogue negotiations between the European Parliament and Council on derivatives reform are due to complete next week, with a view to finalising the text by April, says Michel Barnier
Growth of ruble spot market depends on settlement issues, say brokers
Average daily volume in the ruble spot market is estimated to be around $20 billion, but participants say it could grow by four times if institutions embrace real-time gross settlement and the ruble becomes a CLS currency