News
Calyon rejigs capital markets
LONDON – Calyon has reorganised its capital markets group under the auspices of new deputy chief executive officer Marc Litzler, following the departure of Omar Abukhadra, head of credit and equity.
Sumitomo reorganises treasury
LONDON – Sumitomo Mitsui Banking Corp (SMBC) in London has lost a number of FX spot traders, as the Japanese bank's treasury team undergoes a major facelift.
BarCap forecasts mid-year RMB peg change
BEIJING – Barclays Capital is forecasting a mid-year change to the renminbi (RMB) peg, the bank announced at its global FX conference in the Chinese capital last Friday.
Korean banks report mixed FX results
SEOUL – Korean banks reported strong revenues from their FX business in 2004, with one bank seeing a rise of more than 40%.
Historical ticks from Tenfore
LONDON – Tenfore Systems, real-time global market data feeds and applications vendor, has launched its historical tick data service.
Hires hitting the peak season
NEW YORK/ HONG KONG/ LONDON – The pace of foreign exchange hires is picking up, as banks hurry to recruit following the end of the bonus season and a cut-off from some institutions, according to headhunters.
CME signs SuperDerivatives deal
NEW YORK – Chicago Mercantile Exchange (CME) has linked with SuperDerivatives to provide transparency in its European-style options.
BBH expands limit order management solution
NEW YORK – Brown Brothers Harriman Foreign Exchange (BBH) has added multiple enhancements to FX OrderView, its electronic limit order management system.
Deutsche offers sharia FX product
MANAMA, BAHRAIN – Deutsche Bank has structured what it claims to be the first FX hedge to be compliant under sharia law.
SuperD boosts sales team
GLOBAL – Pricing systems vendor SuperDerivatives has hired 12 sales people in Asia, Europe and New York as part of its plans for expansion.
SunGard Data deal goes through
PENNSYLVANIA – SunGard Data Systems is to be acquired by a private equity group for around $11.3 billion.
BoA loses Singapore strategy team
SINGAPORE – Bank of America (BoA) has lost its currency strategy team in Singapore. Simon Flint senior currency strategist, left Bank of America Singapore last week the bank confirmed.
China names new FX chief
BEIJING – Chinese authorities have appointed Hu Xiaolian to head the country’s foreign exchange regulatory body, the State Administration of Foreign Exchange (Safe), according to local press last week.
NAB unveils latest changes
SYDNEY – National Australia Bank (NAB) has hired Peter Coad as general manager of its markets division. Based in Sydney, Coad will be responsible for leading the markets strategy at a global level. He will also be working with team heads that fall under…
Commission-free CME FX futures trading from CMC
NEW YORK – CMC Group, online foreign exchange service provider, has launched trading in Chicago Mercantile Exchange’s (CME) currency futures, commission free.
ACM set to target banks
GENEVA – Advanced Currency Markets (ACM) is to target the institutional market with a new version of its FX trading platform.
Barclays Capital continues Asian FX build-up initiative
SINGAPORE – Barclays Capital (BarCap) has hired a number of staff from Deutsche Bank and Mizuho Bank in the Asia-Pacific, as it continues to build up its presence in the region.
SunGard in talks for possible sale
NEW YORK – SunGard Data Systems is in discussions with a consortium of private equity firms for a possible sell-off.
Final chapter in NAB scandal begins
MELBOURNE – The former head of National Australia Bank’s foreign currency options desk is facing up to five years imprisonment for his part in the A$360 million rogue trading scandal that shook the bank last year.
EM currency volatility to continue
CENTRAL EUROPE – Volatility in emerging market FX has surged as market participants gauge the impact of improving US fundamentals, which resulted in a 25 basis point rate hike last week, according to analysts.
Bloomberg adds FX service to Toms
NEW YORK – Bloomberg is adding FX position keeping to its Trade Order Management System (Toms).