News
Policy centralisation key to future of Eurozone, says Goldman’s O’Neill
Success or failure of the Eurozone hinges on Germany ‘laying down the law’, according to chairman of Goldman Sachs Asset Management.
Rouble expert returns to Icap
Icap reappoints former director as the new managing director of its rouble business in London.
TD makes play for commodities market
TD Securities is targeting demand for precious metals trading with the launch of a new global precious metals (GPM) sales and trading business today (December 6).
SG CIB live with DealHub for price distribution
Société Générale Corporate & Investment Banking (SG CIB) is using DealHub as its e-FX price-distribution system, as part of ongoing enhancements to its systems and infrastructure.
BAML incorporates OTC trading in new risk index
Bank of America Merrill Lynch has launched a new index which measures risks not normally visible in public markets by incorporating assets trading in the over-the-counter market.
Global FX Division establishes FXPB
The Global FX Division (GFXD) of AFME/SIFMA/ASIFMA announced the formation of a working group to focus specifically on the challenges and issues surrounding global FX prime brokerage (FXPB) and to implement over-the-counter FX clearing for clients.
Forex continues to grow across major platforms
Electronic brokers reported broad growth in trading volumes in November; however Thomson Reuters indicated a marginal fallback in the upward trend in FX.
FXCM raises $50 million for acquisitions
Retail trading company FXCM raised $50 million in primary proceeds for acquisitions in the first day of trade on the New York Stock Exchange on December 2, said company chief executive Drew Niv, in New York.
UBS restructures European forex sales
UBS has strengthened its sales offering with a key hire amid an overhaul of its European sales structure.
Nomura builds out with smartTrade
Nomura went live with smartTrade Technologies’ liquidity management system (LMS) in November for its electronic FX trading business, with plans to scale the technology across other asset classes.
Ta Chong Bank live with FinIQ’s Liquidity Link
Ta Chong Bank in Taipei went live with FinIQ's Liquidity Link system at the end of November, to automate the liquidity-provision process in forex options.
Credit Suisse FXPB gains 40 new clients
Credit Suisse has gained 40 new clients since marketing its relaunched foreign exchange prime brokerage (FXPB) business this autumn.
Velsys continues expansion with new hires in London
London-based FX technology vendor Velsys has made two hires in London as it aims to increase its presence in Europe, the Middle East and Africa.
Forex industry boosts operational efficiency with 95% ticket-compression rate
The FX industry has met with initial success in battling operational risk, with eight dealers achieving ticket-compression rates of more 95% through the joint-venture trade aggregation system by CLS and Traiana.
Trading Places, December 6, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Banks look to securitisation of counterparty credit risk
A number of banks are considering securitisations of their counterparty credit exposures, as they look to get their balance sheets in shape ahead of new Basel capital charges.
CCP turf war simmers as OTC regulations head to the European Parliament
LCH.Clearnet could be prevented from clearing euro swaps under central bank liquidity proposals being pushed by some European regulators
BAML hires new Russia FICC sales head
Bank of America Merrill Lynch (BAML) has lured a former Goldman Sachs managing director to strengthen its fixed-income, currencies and commodities (FICC) team in London.
Credit Suisse launches enhanced FX prime-brokerage platform
Credit Suisse launched its enhanced foreign exchange prime-brokerage platform today (November 30), facilitating global clearing and execution solutions to hedge funds, asset managers and other financial institutions.
Former Icap director resurfaces
Simon Williams, former FX sales director at Icap, has re-emerged at VTB Capital's fixed-income sales desk in London.
Posen reveals Bank MPC at odds over fiscal policy
Bank of England rate-setter Adam Posen talks of divide over fiscal retrenchment; accuses majority view of being “excessively political”
Currency traders prepare for worsening crisis
Currency traders are bracing for further downside risk to the euro, with a surge in euro put sales as the Irish banking crisis worsened last week.
Icap completes first cross-region CNH trade on EBS
HONG KONG - Icap has announced it has executed the first cross-region Chinese yuan trade over electronic broking system EBS.