News
Bank of America loses two in London
LONDON – Bank of America (BoA) has suffered two departures in London.
Deutsche Bank begins trials of DB Marketplace
LONDON – Deutsche Bank has begun trialling DB Marketplace, a new trading venue developed by the bank, with clients.
Bear Stearns widens its footprint in western Europe
PARIS, FRANKFURT & LONDON – Bear Stearns has stepped up its global FX expansion by re-entering Paris, and is considering reopening an office in Frankfurt.
Call for rejig in liquidity management
LONDON – FX banks are in need of a radical overhaul of their liquidity management systems, according to research released Friday (June 15) by London-based research and advisory company ClientKnowledge.
FXall makes 22 new hires globally
NEW YORK & SINGAPORE – Trading platform FXall has made 22 hires in sales, customer services, technology and regional management groups in New York, London, Singapore, Boston and Tokyo.
BIS report highlights trade growth
BASEL – Trading in currency, interest-rate and equity products continues to grow, according to the latest Bank for International Settlements (BIS) quarterly review released last Monday (June 11).
Voltrex launches platform aimed at asset managers
London-based broker Voltrex last week launched Voltrex FX, an electronic platform targeted at asset managers, corporates and private clients.
Progress adds algorithmic functionality to Apama
BEDFORD, MASSACHUSETTS – Software vendor Progress Software is today (June 18) launching an FX package that allows FX traders to run algorithms across multiple liquidity sources, accessing best price and market depth.
JP Morgan and StanChart in senior forex shakeup
LONDON & NEW YORK – JP Morgan and Standard Chartered have embarked on a series of senior-level management changes.
US banks' downward trend continues
NEW YORK – US investment banks are continuing to experience a poor year, with second-quarter results for fixed-income businesses down on the same period last year.
High volatility sparks surge in FX trading
LONDON & CHICAGO – High volatility at the beginning of the month saw strong FX trading flows transacted across major trading venues.
Saxo Bank expands London sales force
LONDON – Saxo Bank has strengthened its London sales and marketing teams with four new hires, as it continues to expand its presence in the city as part of a global strategy.
Tradition makes inroads into Malaysia and South Korea
KUALA LUMPUR & SEOUL – Interdealer broker Tradition has expanded its presence in Asia with a 40% stake in Kuala Lumpur-based broker First Taz Money Broker, and a local office in Seoul.
UniCredit continues recruitment drive
UniCredit has made further additions to its global FX team, making hires from three rival banks. It has confirmed that Mark Sweeting will begin a new role as head of real-money sales for the UK and US in September.
JP Morgan and StanChart in senior forex shakeup
LONDON & NEW YORK – JP Morgan and Standard Chartered have embarked on a series of senior-level management changes.
Best to return to State Street from JP Morgan
NEW YORK – Stephen Best, former global head of e-commerce at JP Morgan in New York, is due to resurface at State Street, the bank has confirmed.
Shock departures at Icap
NEW YORK – Interdealer broker Icap has witnessed the resignation of three senior members of the former EBS team, shortly after the departure of former chief executive Jack Jeffery.
CME gets go-ahead from UK regulator
The Chicago Mercantile Exchange (CME) received approval from the UK Financial Services Authority to provide global clearing services in the UK.
BarCap poaches Tokyo team from JP Morgan
TOKYO – Barclays Capital has poached four FX sales staff from JP Morgan in Tokyo, as part of an effort to expand its coverage of the Japanese market.
GSAM jumps on Hotspot FX bandwagon
JERSEY CITY – Goldman Sachs Asset Management (GSAM) is understood to have signed on for electronic communication network (ECN) Hotspot FX, sources have told FX Week .
Deutsche and ABN expand their retail offerings
LONDON – Deutsche Bank plans to target Middle Eastern retail investors with an Arabic language version of margin trading platform dbFX, due for release in the third quarter.
SEB introduces worldwide senior management changes
LONDON, STOCKHOLM & NEW YORK – Skandinaviska Enskilda Banken (SEB) has undergone a reshuffle of senior FX management.