News
CIBC appoints Mondedeu to senior trading role
Mondedeu will relocate from Madrid to London to take on new position
Credit Suisse hires Lawes from BAML
Spot trader joins Swiss bank as Oleg Grishin hired in Singapore and Magda Rakita departs in London
Basel III already raising costs for long-dated FX, argue corporates
Panellists at ACT annual conference express concerns about the knock-on effects of Basel III and OTC clearing rules
European Commission ‘unhappy’ with Dodd-Frank extraterritoriality
EC official voices concern at London conference over the long arm of US swaps regulations
Etherington joins BBVA from Lloyds
New addition to corporate FX sales team follows two other senior hires in January
FXall’s Nagel joins ADS Securities
Former Asia sales head at FXall takes on regional sales role at start-up brokerage firm in Abu Dhabi
Exemption clarity allows market participants to prepare for new regime
Banks, market infrastructures and industry associations prepare to move forward with regulatory preparation, now that swaps and forwards are set to be exempt
FX spot volumes drop back to normal
Thomson Reuters and Icap report more normal volumes in April after a spike in March
Saxo Bank rolls out options market data to web portal
Danish bank launched new service for retail investors on May 4
Industry hails US Treasury exemption for FX swaps and forwards
FX exemption clarity in the US puts pressure on Europe to take a similar position, argue senior industry officials
Treasury exemption decision leaves Europe divided
Representatives of the Commission, Parliament and Council voice different opinions about whether the US determination warrants a rethink on European rules
CLS appoints Naresh Nagia as CRO in New York
Nagia started May 4 and will replace Carol Simon after a transition period
BAML loses FX trading head and senior trader
Anthony John and Graeme King have both left the bank in London
Fage joins Natixis as Lamb and Ware depart
Ex-Crédit Agricole salesman has been hired by Natixis in New York
BarCap loses Danny Wise and six others
UK bank suffers spate of people losses in FX trading, sales, structuring and research
FXall looks to Sef licence to boost liquidity
Chief executive Phil Weisberg suggests banks might choose to outsource some elements of their single-dealer business to multibank platforms such as FXall, when Dodd-Frank Sef rules become binding
HSBC trio headed for Santander
Three recent departures from HSBC's FX derivatives team will all join Santander
FX technology spend will double by 2013, says Celent
Research estimates total spend across both the buy and sell sides will rise from $1.23 billion in 2010 to $1.83 billion in 2013
US Treasury will exempt FX swaps and forwards from Dodd-Frank
Afme's global FX division welcomes the decision, announced on April 29, and calls on European rule-makers to follow suit
SmartTrade adds CME’s FX futures to liquidity pool
Clients will be able to trade FX futures offered by CME Group as if they were trading spot, using the vendor's conversion software
Top European banks see Q1 Ficc revenues fall
Deutsche, Barclays, UBS and Credit Suisse all saw some fall in Q1 revenues compared with the same period last year
The euro: weathering the perfect storm
Fiscal concerns continue to haunt peripheral European countries and the wider eurozone, but the euro has strengthened against major currencies in the first four months of the year and economists no longer question the currency’s future. Nikki Marmery…