News
Pricing and relationships still key, says Axa’s FX head
Competitive pricing and a strong relationship remain key to the buy side’s choice of trading counterparty, according to Lee Sanders, head of foreign exchange and fixed-income execution at Axa Investment Managers in London.
Deutsche Bank takes offshore renminbi electronic on Autobahn
Deutsche Bank claims to be the first major dealer to offer offshore renminbi on an electronic trading platform
CLS considers membership category for CCPs
Foreign exchange central settlement provider CLS Bank is considering the creation of a new membership category for central counterparties (CCPs) developing clearing services for FX derivatives, the firm has told FX Week.
FSA’s Ross to become Esma’s first executive director
Verena Ross, director in the UK Financial Services Authority's (FSA) international division, is to move to the newly formed European Securities and Markets Authority (Esma) as executive director.
Malfunctioning algos could cause another flash crash, academic warns
Robotic foreign exchange trading systems could malfunction and lead to a repeat of the May 6 flash crash in the US, according to David Cliff, professor of computer science at the University of Bristol.
European Parliament committee accelerates on derivatives reform
Committee members will discuss draft report today and have until March 15 to suggest amendments
Brooks departs Société Générale in New York
French bank loses its head of FX options trading in New York
Trading Places, February 28, 2011
Read this week's Trading Places to catch up on people moves across the FX world.
Deutsche Bank promotes Rodgers to new FX role
Former head of FX derivatives takes on expanded role as spot and options businesses merge
Darling to join CIBC in London next week
RBC's former emerging markets head bound for CIBC
Catherine Liddiard exits UBS
Swiss bank loses senior FX salesperson
Ryan quits Toronto Dominion Securities
Canadian bank loses its spot FX head
Crédit Agricole to launch two-year forwards by Q2
Crédit Agricole Corporate & Investment Banking will launch two-year outright forwards on its Jetstream platform by the end of March, according to Vincent Leclercq, global head of foreign exchange and commodities at the bank in London.
UK and French banks report mixed bag of Q4s
Barclays Capital, BNP Paribas and Société Générale (SG) last week posted a mixed bag of fourth-quarter results for fixed income, which includes foreign exchange.
US Fed’s Tarullo stresses importance of robust CCPs
Well-managed central counterparties (CCPs) are key to handling counterparty credit risk, according to Daniel Tarullo, a governor at the Federal Reserve Board in Washington, DC.
Baiocchi departs Barclays Capital in Milan
Nicola Baiocchi, director of corporate risk advisory at Barclays Capital in Milan, has left the bank to join Italian bank Banca IMI, according to market sources.
Informatica to launch messaging management tool in Q2
California-based data integration software vendor Informatica will launch a new messaging management system in the second quarter, according to officials at the firm.
In Brief, February 21, 2011
Read this week's In Brief to stock up on the latest technology news around the FX world.
Morgan Stanley loses six in London and New York
Morgan Stanley has seen six departures in New York and London since the beginning of February, with all understood to be moving to hedge fund Brevan Howard.
FX platforms ponder implications of Sef rules
Market participants might need to wait until July before the full implications of swap execution facilities on FX trading platforms are fully known.
Trading Places, February 21, 2011
Read this week's Trading Places to catch up on people moves across the FX world.
Isda working group to draw up new, standardised CSA
Derivatives market set for shake-up as confusion over how to price multi-currency CSA trades drives a push towards a standardised collateral agreement
Securities regulators at odds over OTC shift to trading platforms
Iosco members fail to agree on whether organised trading platforms for derivatives should source liquidity from multiple institutions.
Swiss banks report modest FX revenue rises in Q4
The two largest Swiss banks unveiled their financial results for the fourth quarter of 2010 last week, revealing modest increases in foreign exchange revenues.