News
CLS Bank settles new record in daily volume
LONDON AND NEW YORK – CLS Bank International (CLS Bank), the global settlement firm, set a new record for the volume of payment instructions settled in one day.
Hedge fund interest in forex continues
London – High profile banks and investment houses are launching currency fund of hedge funds (FOHFs), showing the continuing interest as FX as an asset class.
Netpicks Forex and CoesFx in partnership for FX trade
PLAINVIEW, NEW YORK – CoesFx, the New York-based FX electronic currency network (ECN) has formed a partnership with NetPicks Forex, the online day-trading service.
Algorithmic trading: the new FX frontier
NEW YORK – Algorithmic trading is set to become the new frontier of foreign exchange trading, according to market analysts.
FX Week USA Congress, NY
NEW YORK – Following the success of last year’s inaugural USA congress, FX Week will be hosting its second annual meeting of industry players in New York this Thursday.
Q&A Christiane Mandell
Keynote speaker at this week’s FX Week USA conference, the widely respected Christiane Mandell is a leading light in the FX business. As global head of FX for Bank of America, she has increased the bank’s profile by aggressively hiring the brightest…
eSpeed upgrades spark changes
LONDON – FX platform vendor eSpeed is undergoing a number of changes to its staff in the coming weeks, as it seeks to improve its position in the market.
DrKW continues to rebuild in FX
PARIS – Dresdner Kleinwort Wasserstein (DrKW) is continuing to rebuild its foreign exchange capabilities with hires in Paris and London, following the major cuts seen at the German bank in December.
Gain growth boosts staff hires
NEW YORK – Online FX dealer Gain Capital has made two appointments to meet growing demand for its services.
Icap offers streaming FX prices
LONDON – Icap is set to offer streaming prices to customers on its forwards platform, as the broker seeks to expand its presence in the electronic broking space, and offer competition to Reuters.
US banks suffering from short notice periods
NEW YORK – US banks are altering their notice periods, as they are increasingly being seen as soft touches for other banks looking to hire staff.
CFTC cracks down on scams
WASHINGTON, DC – US authorities have uncovered a forex scam worth more than $17 million involving nearly 1,000 customers.
Travelex unveils US expansion plans
NEW YORK – Foreign exchange specialist Travelex is targeting significant growth in the US market with the appointment of Robert Wittmann as head of commercial FX.
CoesFx adds 10 new pairs
PLAINVIEW, NY – Electronic currency network, CoesFx, has added 10 new currency pairs, almost doubling the number of currencies available to its retail and institutional clients.
OCC reports decline in forex derivatives trading
WASHINGTON, DC – Foreign exchange has bucked the trend for derivatives trading with a fall in value for the first quarter of the year, according to the US Office of the Comptroller of the Currency (OCC).
RBC departures in sales and trading
LONDON & NEW YORK – Royal Bank of Canada (RBC) is to scale down its forex operations in New York, and is understood to be closing its prop desk in London with the departure of veteran trader Keith Dack.
BoA keeps building
NEW YORK – Bank of America (BoA) is continuing the expansion of its FX capabilities with further growth in its sales team. Mark Rossi and Rodulphe Alexis started at the bank last week, reporting to Patrick Baune, head of sales at the bank. The pair join…
CSFB gets green light for Korean OTC derivatives
SEOUL – Credit Suisse First Boston received approval to engage in over-the-counter derivatives business in South Korea last week.
MetaQuotes releases MetaTrader 4 for FX
KAZAN – MetaQuotes Software will be releasing a new version of its forex trading system, MetaTrader 4, on July 1.
Poor Q2 for US investment banks
NEW YORK – Directionless markets in the second quarter of the fiscal year proved to offer few opportunities, with US investment banks posting meek second quarter results over the same period the previous year.