News
Senior shake-up at Deutsche
LONDON – Deutsche Bank has realigned senior FX management, and has created two new roles to expand its forex coverage.
BarCap hires Lehman hedge fund FX chief
GLOBAL – Graham Bibby, head of FX hedge fund sales at Lehman Brothers, is understood to have left the bank for a similar position at Barclays Capital.
Morgan Stanley creates global head of FX role
NEW YORK – Morgan Stanley has named Steve Mettler global head of FX sales and trading in New York.
Texas court fines PIC $123 million
WASHINGTON DC – The Texas Federal Court has levied more than $123 million in fines and restitution, in a case filed against Premium Income Corp (PIC) and its affiliates, Inforex and Tri-Forex International.
Currenex set to move into new asset class
NEW YORK – Trading technology vendor Currenex is going multi-asset class, according to officials at the company in New York.
RBS names Richardson head of options and EM in New York
NEW YORK – RBS has made Jason Richardson head of currency options and emerging markets for the FX business in New York.
Deutsche and Mercer team up
LONDON – Deutsche Bank and Mercer Investment Consulting have teamed up to launch a multi-manager currency investment product.
MG Financial begins streaming Dow Jones news
NEW YORK – Retail FX company MG Financial last Thursday (February 8) began streaming currency news from Dow Jones Newswires, through its FX trading platform DealStation.
EBS adds ruble trading to spot platform
LONDON – Spot broker EBS has launched ruble trading over its spot matching platform, EBS Spot.
FXDD launches automated platform
NEW YORK – Online FX trading company FXDD last week launched an automated currency trading platform named FXDDAuto.
Citigroup names Prasad global head of forex and local markets
LONDON – Anil Prasad, head of CEEMEA sales and trading, has been named global head of FX and local markets at Citigroup in London.
Rolfe & Nolan announces readiness for FXMS
CHICAGO & LONDON – Rolfe & Nolan has completed product development, testing and implementation for the FXMarketSpace (FXMS) initiative, making trading on the new platform available to Rolfe & Nolan customers and potential users.
Goldman bullish on Bric
LONDON – The New World economies are to overtake Old World economies within 25 years, according to Jim O'Neill, head of global economic research at Goldman Sachs.
Nordea offers forex trading over ExNet this quarter
COPENHAGEN – Nordea will begin offering executable streaming prices (ESP) for FX to clients over ExNet, a connectivity network from Orc Software, this quarter. ExNet enables trading access to liquidity pools, including exchanges and electronic…
Citigroup names Prasad global head of forex and local markets
LONDON – Anil Prasad, head of CEEMEA sales and trading, has been named global head of FX and local markets at Citigroup in London.
Strategists warn of carry trade risk
LONDON – FX markets could face disruption as the carry trade and a declining yen reached critical levels last week, warned analysts.
RBC subscribes to Ffastfill for CME forex service
CHICAGO & LONDON – Software vendor Ffastfill has signed on RBC Capital Markets for its CME FX on Reuters application service. The service gives direct access to CME's FX futures and options contracts. FFastfill, which was chosen by Reuters as the launch…
FinIQ rolls out DCD white-label
SINGAPORE – Technology vendor FinIQ has released a white-label version of its structured deposit pricing and processing system for dual currency deposits (DCD) distribution.
Goldman loses two in FX sales...
LONDON – Goldman Sachs has lost two staff from its institutional FX sales business in London.
...and CS loses two in trading
NEW YORK – Credit Suisse has lost two spot traders in New York, and reorganised its fixed-income business.
Tradition hires five in inflation, new desk head
EUROPE – Interdealer broker Tradition has added to its inflation team across Europe and appointed a new desk head, John Cullen.
BoT closes NDF trading loophole
BANGKOK – The Bank of Thailand (BoT) has again intervened in the FX markets, by ordering banks not to trade non-deliverable forwards (NDF) with foreign counterparties.
Dresdner exodus continues in forex
LONDON – The exodus from Dresdner Kleinwort's foreign exchange business continued last week, with three departures hitting the institutional FX sales desk, and one each from FX options and spot FX trading in London.