News
Speculation surrounds FOMC meeting for clues on possible dollar rally
First-ever FOMC press conference on April 27 could give market some indication of the impact of the end of QE2 and the possible timing of rate hikes, strategists hope
Deutsche Bank sells dbFX to Gain Capital
German bank says further growth of the retail trading business requires a specialist like Gain Capital as it sells the dbFX offering it has built up since 2006
RBC hires Peter Hirsch from StanChart
Three others also understood to have left StanChart's FX sales and trading business
Ion Trading to acquire Wall Street Systems
Deal expected to close within months and makes a natural combination of specialities, according to industry observers
Pagano leaves BNP Paribas for UBS
Will become UBS's head of Italian corporate FX sales
Killen quits HSBC’s FX options desk
The bank has already lost Simon Manwaring and Howard Buckley in London
Wilkins replaces Wee in e-FX role
David Wilkins moves from Barclays Capital to Deutsche Bank to take up the role of head of electronic foreign exchange sales, Asia
US Treasury to move 'expeditiously' on FX exemption
Assistant secretary to the Treasury Mary Miller recognises the need to clarify the regulatory regime for FX swaps and forwards sooner rather than later
Progress Software extends FX connectivity on Apama platform
Vendor has added connectivity to FX platforms of Nomura, JP Morgan, BNP Paribas and Commerzbank through its Progress Apama Capital Markets platform
TraderTools steps into the light with Citi Prime Finance
Vendor plans to pilot fully transparent aggregation tool to rival FX ECNs by the end of April
Lars Olesen quits Saxo
Former Citi veteran to be replaced by Conor Ringland at Saxo Bank
Deutsche and Barclays sweep into CNH derivatives
Banks both now offer offshore renminbi trading in spot, forwards and swaps on their FX platforms after new launches over the past fortnight
Testing the limits
Thomson Reuters Spot Matching suffered a major outage last month, with trading unavailable on any currency pairs for four hours. Chiara Albanese speaks to FX trading platforms to assess how they test their technology to prevent such outages
BMO appoints Nicholson, expands in Hong Kong
Ex-Barclays Capital hedge fund salesman to join Bank of Montreal in London next month
Mifid proposals on organised trading need a rethink, insists FSA official
Regulator argues the EC should create a derivatives trading venue category to allow European institutions to meet G-20 commitment on organised trading
Reserve managers diversify away from traditional currencies, report finds
Non-traditional currencies play an increasingly important role in central bank holdings as a result of eurozone sovereign debt concerns and ongoing economic weakness in developed markets, according to Central Banking Publications report
BlueCrest loses London-based currency manager
Reto Feller departs BlueCrest, understood to be considering private banking roles
Clearing discussion still in flux, says Esma chair
In his first public speech since becoming head of key regulatory body, Steven Maijoor gives no hint as to whether FX swaps and forwards might be exempted from mandatory clearing
Paige Orr joins Standard Chartered in London
New investor sales head joins after a year's absence from the market
FX dealers commit to greater standardisation in latest Fed letter
Voluntary OTC commitments touch on standardisation of FX products and the selection of a trade repository for the FX market by Q2 2012
Isda raises concerns over Russian netting laws
But despite the challenges involved, banks and brokers are excited by the progress being made to open up the Russian market
Icap updates rules for EBS Spot Ai customers
Interdealer broker limits top-of-book quote interrupts to 200 per institution per day