News
Further departure at CBA
LONDON – Commonwealth Bank of Australia (CBA) in London has lost another senior member of staff, with the departure of Jonathan Klein, head of investor sales, client acquisitions, Europe.
NAB in global build-up
SYDNEY AND NEW YORK – National Australia Bank (NAB) has made myriad hires to its global FX team, as it continues rebuilding the business following last year’s notorious rogue trading scandal.
Investors take on real exposure
SAO PAULO – Currency hedging by foreign investors of Brazilian hedge fund vehicles is on the decline, as risks on the Brazilian real favour the upside, according to hedge fund managers.
Currency strategies down
LONDON – Currency strategies faced a tough month in April, continuing the trend seen in recent months.
Hotspot using TradeSTP
LONDON – Hotspot FXi, the multi-bank FX market operator, is set to use data distribution products vendor LogicScope Realisations’ TradeSTP deal notification software, say sources.
Size matters, finds Greenwich survey
GREENWICH, CT – The ability to execute large currency trades is one of the key components in winning new FX business from corporates and institutional clients, according to latest research from Greenwich Associates.
COESfx adds real-time FX data
PLAINVIEW, NEW YORK – Electronic currency network (ECN) COESfx has launched a new service, providing real-time streaming forex data directly to currency traders’ desktops.
Misys launches aggregation service
LONDON – Misys Banking Systems (Misys) has launched the Misys Treasury Exposure Aggregation Service (MTEAS), adding more features to its foreign exchange offering.
DrKW adds two in London
LONDON – More FX sales team hires have been made at Dresdner Kleinwort Wasserstein (DrKW) in London, adding to the 20-plus hires it has made globally since its restructuring late last year.
BNP loses sales head
NEW YORK – Drew Gross, head of North American FX sales at BNP Paribas in New York, has resigned from his role, FX Week has learned.
All change for CLS management
LONDON and NEW YORK – CLS has announced a shake-up of its senior management and the forthcoming departure of chief executive Joseph De Feo.
ACI Congress programme unveiled
STOCKHOLM – The line-up for the ACI World Congress, to be held on 26–28 May in the Swedish capital, has been finalised.
COESfx teams up with AbleSys
PLAINVIEW, NEW YORK – Electronic currency network COESfx has formed an alliance with technology vendor AbleSys Corporation (ASC), giving FX traders access to trading signals to help improve their decision-making.
Deutsche builds in FX
GLOBAL – Deutsche Bank has made a series of hires to build up FX globally.
French revolution in London
PARIS AND LONDON – French sales staff are in demand, as a number of banks look to penetrate a market made difficult by sophisticated, price-aware clients.
French referendum ups volatility
PARIS – The French referendum on the European Union (EU) constitution, set for May 29, has already affected euro trading, and continuing uncertainty will lead to further volatility.
Korean retail FX guidelines cause concern
SEOUL – Retail FX trading guidelines recently introduced in South Korea could pose a threat to the potentially lucrative white-labelling market in the country, according to market players.
CME updates free FX tool
CHICAGO – The Chicago Mercantile Exchange (CME) is adding extra data to its web-based CME Equivalents platform, in a bid to attract more mainstream users.
SEB creates hedge fund team
STOCKHOLM – SEB is to set up a new sales desk to focus on building its hedge fund clients, according to global head of FX Marcus Nysten.
Forex first for Korea First Bank
SEOUL – The purchase of Korea First Bank (KFB) by Standard Chartered is set to create the biggest FX desk in Korea, according to senior representatives at both banks.