News
Deutsche takes the top spot for FX in Q3
ZURICH & FRANKFURT – Deutsche Bank has proved its FX credentials by being the only bank so far to report higher FX year-on-year revenues for the third quarter, despite lower volatility and tight spreads.
Ohmän gains structured products team from Swedbank
Ohmän investment bank in Sweden has recruited eight members of the 12-person structured products team from Swedbank in Sweden.
Commerzbank expands Asia office
SINGAPORE - Tan Kok Wee has joined Commerzbank as head of fixed-income and currencies sales for Asia, the bank announced today, October 25.
In Brief, October 25, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Conference speaker laments renminbi demand outstripping supply
Demand for the renminbi is outstripping supply since the unit began trading globally earlier this month, according to a trader speaking at conference held under Chatham House rules in London on October 21.
Critics hit back at cross-border bank levy
Critics are hitting back at plans to introduce a bank levy on UK dealers, highlighting the challenges of implementing the cross-border charge.
New value in Korean bond/swap basis play?
Upheaval in the currency markets as a result of fears of protectionist action by a number of emerging market countries to defend their competitive positions has created a raft of threats and opportunities in the financial markets, including a new play on…
EU council reaches compromise agreement on AIFM
The European Council has reached agreement on its approach to the alternative investment fund managers (AIFM) directive, paving the way for an end to negotiations and a deal on non-EU managers.
RBC lures more StanChart e-FX staff
Royal Bank of Canada has hired David Wilkins as part of efforts to build out its electronic FX capabilities.
Commerzbank splits derivatives team as chief leaves
Commerzbank has restructured its London-based forex derivatives desk following the departure of Salvatore Rubino, global head FX derivatives, earlier this month.
Spot FX faces clearing threat
Spot foreign exchange faces unnecessary clearing to avoid discrepancies on banks’ books, according to speakers at Global Insight Forum: The impact of regulation on the global OTC market, held in London on October 19.
Hotspot FX reports September year-on-year growth
Hotspot FX reported a 17.1% rise in average daily volumes to $33.8 billion – double count – in September, versus $28.8 billion in September last year.
IBFX launches in Australia
Retail foreign exchange trading company Interbank FX (IBFX) has opened a subsidiary office in Sydney, it announces today (October 25).
Trading Places, October 25, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
ECB calls for law enforcing Sepa migration
European Central Bank says legislative action on migration of Sepa scheme needed as self-imposed deadline will not work
The impact of regulation on the global OTC market
Three web seminars – in Hong Kong, London and New York – exploring key changes in international OTC derivatives regulation from a regional perspective
Lane takes top sales role at BAML in Australia
SYDNEY – Bank of America Merrill Lynch is building out forex coverage of the Australian market with a key sales hire in Sydney.
Fleschler resurfaces at Goldman Sachs
Robert Fleschler, formerly global head of electronic FX sales and distribution at Lehman Brothers, has joined Goldman Sachs as vice-president of e-FX sales for the Americas.
US forex hits sluggish patch
NEW YORK & BOSTON - All US banks reported weak forex revenues in the third quarter this year versus last year, as volatility and volumes dropped.
Lloyds strengthens structuring team with new hires
Phil McCabe joins Lloyds as head of client structuring in FX rates and commodities. He is based in London and reports directly to Patrick Shone, head of structuring.
SEB overhauls management structure and preps Asia push
SEB has realigned senior management to focus on key growth areas in Europe, while preparing to open up shop in Hong Kong next year to target Asian institutional investors.
Trading Places, October 18, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Traiana opens office in Tokyo
TOKYO – Post-trade technology vendor Traiana has opened an office in Tokyo to meet the needs of locally based clients, it announced today (Monday 18).
ECB's Constâncio: grant CCPs access to central bank liquidity
WASHINGTON, DC – Central counterparties for derivatives trades should have access to central bank liquidity, Vítor Constâncio, the vice-president of the European Central Bank, has said.