News
Record FX profits driven by volatility and hedging, say Deutsche and UBS
A perfect storm of volatile currency moves, intervention from the SNB and frenetic hedging activity have contributed to unusually high FX revenues and volumes in the third quarter, say Deutsche Bank and UBS
Huteau departs Credit Suisse after 17 years
Swiss bank parts company with its head of local markets FX options trading for Europe, the Middle East and Africa and Latin America
Ferrini joins Bloomberg from Commerzbank
Fabrizio Ferrini left Commerzbank in September
Marex Spectron recruits global head of FX from CIBC
Chris Eagle will start in early 2012, reporting to Peter Williams, head of financial markets
Industry lobbying against EU transaction tax intensifies
The European Commission’s recent proposal to tax financial transactions by up to 0.1% has sparked a frenzied wave of lobbying from industry bodies concerned it could drive FX trading outside the EU and diminish London’s standing as an FX centre. Chiara…
Peter Klein joins BAML to head FXPB
Klein replaces Tony Dalton, former global head of FX prime brokerage, who will take on a senior FXPB sales role
Adrian Lee adds three portfolio managers in London
Three new managers join from State Street Global Advisors, Oxford Economics and APG Asset Management
Shey joins RBS from UBS
Forex veteran has been appointed global head of futures, prime services and electronic markets at RBS in Stamford
EUR/CHF options market springs into life
Traders report sustained levels of activity in the five-year EUR/CHF options market as hedgers protect against long-dated downside risk
Chase takes on head sales role at BAML
John Chase becomes Bank of America Merrill Lynch's new head for Europe, the Middle East and Africa corporate derivatives sales
Industry calls for further clarity on Mifid II
The European Commission tabled proposals to revise the Markets in Financial Instruments Directive on October 20. But traders remain concerned about the implications of a one-size-fits-all approach to foreign exchange
Trading places, October 24, 2011
Read about hires at BarCap, Nomura, CME and CLS
Swain to manage GFI's new Swiss office
New office in Nyon will focus on emerging market products
Asia-Pacific personal wealth growth soars ahead of US and Europe – Credit Suisse
The Asia-Pacific region has accounted for 54% of all new global wealth creation since 2010 and emerging markets are set to drive global wealth creation during the next five years, according to Credit Suisse's annual Global Wealth Report
FX Week Asia: High-frequency trading practices defended
Edward Blair presents detailed defence of high-frequency trading practices at FX Week Asia
Singapore Exchange preps FX clearing launch
SGX president says NDF clearing will begin shortly, following the successful launch of a clearing platform for interest rate swaps in November 2010
Broeker joins Unicredit to craft FX strategy
Former head of options at Nomura joins Italian bank following the recent departure of its global head of FX, Nick Crawford
FX Week Asia: Options clearing on hold, prime brokers confirm
FX clearing will be restricted to non-deliverable forwards as US authorities discuss whether settlement risk can be properly managed for cleared FX options, according to speakers at the FX Week Asia conference in Singapore
FX Week Asia: Corporate hedgers rattled by volatility
Tumultuous foreign exchange market in September has left some hedging strategies in disarray and led to more timely exposure monitoring in one treasury department, say corporate treasurers speaking at FX Week Asia
FX Week Asia: World economy 'needs alternative reserve currency'
Chinese renminbi looks poised for reserve status, but still no consensus on when it will happen due to forces beyond "anyone's control", senior academic tells FX Week Asia conference in Singapore
BAML expands FXPB presence in London
Janet Thomas has joined Bank of America Merrill Lynch in FX prime brokerage in London
Emerging markets focus to boost NDFs despite clearing costs
The growth of the non-deliverable forwards market will not be hit by impending clearing laws
Pace of renminbi appreciation will slow, says Deutsche
Jens Scharff-Hansen, co-head of FX and short rates trading for Asia at Deutsche Bank, talks to Farah Khalique about the growth of offshore renminbi trading, recent dislocations in the onshore and offshore markets and how corporates can take advantage
Multiple repositories will protect against technological failure
Regis-Tr will roll out its reporting services for foreign exchange in mid-November