News
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.
Gulf currency volumes improve on TR Matching
Gulf Co-operation Council (GCC) currency volumes on Thomson Reuters' Spot Matching Service are picking up, but more market-makers are needed on the system, according to bank sources in the region.
Currency ETPs kick off
ETF Securities saw assets under management (AUM) in its currency exchange-traded products (ETPs) rise by 16% to $240 million in the week of November 15, as investors moved to hedge euro risk.
smartTrade upgrades clients with StudioAir
smartTrade is migrating clients from smartTrade Studio to StudioAir, an upgraded version of its front-end trading application that enables traders to customise desktop views.
BarCap loses emerging markets chief in New York
Barclays Capital has lost its emerging markets trading chief in the US, amid speculation of a replacement.
SDX expands exotics options
SuperDerivatives is capitalising on increased risk appetite for exotic options with the launch of new correlation products on its multi-asset pricing system, SDX, in the first quarter of 2011.
Trading Places, November 29, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
'Barracuda trading' swims to the fore in Europe
French finance minister Christine Lagarde yesterday told a parliamentary committee that high-frequency trading (HFT) should be regulated "very strictly", and even banned in "exceptional" circumstances.
FXecosystem gets Series A funding
Trading infrastructure vendor FXecosystem has completed a Series A funding round from New York and London-based investors.
CME’s CCP to clear Middle East products and reduce 'black swans'
The Chicago Mercantile Exchange's (CME) bid to eliminate 'black swan' events in the commodity derivatives arena received a boost with the announcement that the world's largest derivatives exchange will start clearing a new range of Middle Eastern and…
EU Prips consultation document accepts one size does not fit all
The European Union has published its consultation document on the legislative steps for the Packaged Retail Investment Products (Prips) initiative. The document contains few surprises and is available for final comments until January 31, 2011.
British bankers lobby Banking Commission
British Bankers’ Association chief executive Angela Knight warns against breaking up banks; argues Basel III does not need to be buffered by national measures
Dodd-Frank slows down full implementation of Basel II
Contradictions in the US regulations slowing down exit from Basel II parallel run
RBC rebuilds sales team, adds FX veteran Baune
Royal Bank of Canada is continuing to bolster its global sales force, with the hire of an industry veteran in London.
First offshore renminbi swaption accomplished in Hong Kong
The first offshore renminbi OTC swap option was carried out this week between BNP Paribas and HSBC in Hong Kong, brokered by Icap.
Pinto returns to Goldman Sachs
Goldman Sachs continues to build in electronic commerce sales in New York.