News
Reuters staff on top post-merger
LONDON - Reuters managers are taking the lead after the Thomson-Reuters merger, retaining top posts.
Deutsche loses McGowan to Barclays Capital
LONDON & SINGAPORE - Adrian McGowan, a managing director in the foreign exchange complex risk group at Deutsche Bank in London, has left the bank.
Saxo launches Webtrader
COPENHAGEN - Saxo Bank plans to introduce version 2.0 of its web-based platform, Saxo WebTrader, at the end of the second quarter.
4th Story releases algo trading tool
SAN FRANCISCO - Technology vendor 4th Story last week (April 14) officially launched automated trading software 4S.Blue Ridge.
Musical chairs at Goldman Sachs
LONDON - Goldman Sachs is seeing a number of changes at its foreign exchange sales and trading team in London, sources tell FX Week .
Senior forex managers lower their sights
LONDON - Senior level foreign exchange executives are radically reassessing their career options in light of the current credit crisis, according to recruitment firms in London.
StanChart raids Lehman Bros for structured products team
LONDON & SINGAPORE - Standard Chartered has poached three senior managers from Lehman Brothers, to expand its Singapore-based global structured products trading operation.
RBS announces new GFI sales force
LONDON, SINGAPORE & GREENWICH, CONNECTICUT - The Royal Bank of Scotland has outlined its sales structure following the acquisition of ABN Amro at the end of last year.
Isda AGM: Cautious OTC traders increase collateral use
VIENNA - As the credit crisis gathered strength in 2007, dealers became increasingly likely to demand collateral from their counterparties, according to a survey released today by the International Swaps and Derivatives Association (Isda).
Goulet, Calyon, Alexandre
Goulet, Calyon, Alexandre
Global remit for Deutsche pair
LONDON & NEW YORK - Deutsche Bank has promoted Ivor Dunbar and Richard Byrne to share the role of head of global capital markets in London and New York, respectively, filling the role left vacant by Thomas Gahan.
Deutsche Bank continues ETN issues
NEW YORK - Deutsche Bank has launched four commodity-linked exchange traded notes (ETNs), in response to growing demand from retail and institutional investors for exposure to the commodity markets.
Forex expansion continues at Citi
NEW YORK - Citi's foreign exchange business is seeing yet more changes, with new roles and an appointment in sales.
Global managers negative on sterling
LONDON - Despite experiencing its largest devaluation in 16 years, sterling is still overvalued, according to respondents to a Merrill Lynch global fund manager survey.
CFTC fines firm $260,000 for lack of capital
WASHINGTON & VIRGINIA - The Commodity Futures Trading Commission (CFTC) has ordered a US retail foreign exchange trading company to pay $260,000 to settle charges relating to undercapitalisation.
Record FX returns no compensation for continuing subprime losses
BOSTON & NEW YORK - Record foreign exchange revenues have proved no match for the credit crisis, with billion-dollar writedowns causing two major banks to report big first-quarter losses in their fixed-income divisions this week.
BNP looks to the long term
LONDON & PARIS - BNP Paribas has restructured its Paris-based central bank and official institutions foreign exchange sales desk by bringing in a new co-head responsible for long-term interest rate product sales.
Banks vow to improve transparency
WASHINGTON, DC & FRANKFURT - The Institute of International Finance (IIF), a banking industry trade group, has promised to improve transparency over risk exposure and executive pay in the wake of the credit crisis.
Fair-value strategies pay off in March
LONDON - Currency managers running value strategies were likely to have the best returns in March, according to strategy research by ABN Amro.
SuperD offers exit pricing
LONDON - Market turmoil and increased regulation has prompted data and software vendor SuperDerivatives to add liquidation, or exit, pricing to its portfolio revaluation services.
dbFX chief Hardiman departs
LONDON - Catherine Hardiman, London-based head of Deutsche Bank's retail platform, dbFX, has left the bank.
Swiss retail FX rules spell consolidation
BERN - Recent amendments by the Swiss Federal Banking Commission (SFBC) to the banking ordinance concerning foreign exchange dealers could lead to consolidation of the retail FX market in the country.
BarCap aims to capture FX volatility
LONDON - Barclays Capital has launched three foreign exchange volatility indexes, the BetaVol, Smart BetaVol and AlphaVol. The indexes, which are designed to provide portfolio diversification and event hedge protection against sudden market downturns,…