News
RMB’s rise to reserve currency status accelerates
The possibility that renminbi will become a reserve currency in its own right appears to be becoming a reality, as a number of central banks have begun to diversify into the Chinese currency. Chiara Albanese reports
Trading places, October 17, 2011
Read about hires at Lloyds, UBS, Société Générale, Anello Asset Management
Crawford heads to Commerzbank
German dealer names new trading chief as it continues to bolster its FX franchise in light of regulatory changes and challenging market conditions
US banks at a disadvantage in face of Volcker rule
Non-US banks will have an advantage over US counterparts when it comes to prop trading, according to one legal expert
Two FX traders depart Nomura
Sami Amara and Yoshi Koska have both left the bank in London
BNP Paribas promotes Famery to replace Chase
Fabrice Famery assumed role of head of European corporate rates and FX in September
Bourget to join UBS from SG CIB
Regis Bourget will join the institutional sales desk in December, reporting to Richard Longmore
Nomura loses chief economist
Peter Westaway, former head of the Bank of England's research division, has resigned from Nomura
CME Group recruits Knottenbelt from RBS
Industry veteran Willian Knottenbelt appointed to lead the exchange group’s Emea operations
Drysdale departs Goldman Sachs
FX options trader's departure is understood to be part of Goldman's global headcount-reduction exercise
Sterling: hamstrung by the latest round of QE?
With the announcement from the Bank of England on October 6 of a further round of quantitative easing, the consensus view of contributors to FX Week’s currency forecast index is that cable will remain around 1.55 for the next three months, despite being…
Profile: Credit Suisse Advanced Execution Services
Credit Suisse is one of a number of banks to have invested heavily in its algorithmic trading capabilities over the past decade. Clive Davidson talks to the bank’s algo trading team to find out how it plans to leverage its success in equity and FX…
G-10 troubles fuel sell-off in EM currencies
Declining risk appetite and a flight to quality have driven a sell-off in some emerging market currencies and pushed up the cost of hedging, say participants
Central banks shy away from euro reserves
New data from the IMF’s currency reserves database suggests reserves accumulation has slowed during 2011 and the appetite to hold euro reserves has also waned, particularly on the part of emerging market central banks
Trading places, October 10, 2011
Appointments announced last week at London Stock Exchange, UBS, GFI and Société Générale CIB
Clearing of Chilean NDFs hampered by netting uncertainty
The Central Bank of Chile has the authority to stop financial institutions netting down their transactions, which participants fear might prevent central counterparties from being able to clear contracts denominated in the Chilean peso
Eurozone crisis boosts September spot volumes
Falling confidence in the eurozone and the flight to and from commodities-based currencies has resulted in record volumes, platforms report
Citi promotes Patel to run G-10 options
Chirag Patel will add G-10 to his existing responsibilities in FX options
Parr joins Bloomberg after departing Icap earlier this year
Robert Parr has joined Bloomberg Tradebook and will be responsible for FX sales in Europe, the Middle East and Africa
Ferrini out of Commerzbank
Fabrizio Ferrini made redundant as Commerz relocates its Italy and Spain bank sales desks from London to Frankfurt
Saxo unveils Moscow office led by Dombrovan
Former investment analyst and IT specialist joined Saxo in Moscow last month
Urbanek departs BNP Paribas
Peter Urbanek worked in hedge fund sales in London
Loizou joins Anello Asset Management
Stavros Loizou joins from Lewis Charles Securities and will manage the Mantis Program, which will invest across equities, fixed income and G-10 currency pairs
Morgan Stanley multi-manager platform goes head-to-head with Deutsche and Citi
FX Gateway, launched this week, will leverage Morgan Stanley’s prime-brokerage and distribution capabilities and give institutional investors direct access to up to 20 currency managers