News
Further changes at Bank of America
SINGAPORE – Ramanathan Madhavan Muckai, senior strategist, focusing on macro-economics, is the third departure from Bank of America's (BoA) currency strategy team in Singapore.
RBS sees change in sales
LONDON – Royal Bank of Scotland's sales team has seen changes recently with one appointment and a departure.
CFETS/Reuters launch non-RMB FX portal
SHANGHAI – China Foreign Exchange Trading System (CFETS) began marketing its trading platform that allows trade in eight foreign currency pairs in Shanghai last week.
Further changes at SocGen
LONDON – Société Générale has yet again made changes to its management structure, as it tries to finalise the set-up of its forex desk.
Scandal-hit RBC loses Allen
LONDON – Mark Allen, head of FX for Europe and Asia at Royal Bank of Canada in London, has left the bank, the insitution has confirmed.
MAS to maintain "modest" currency appreciation
SINGAPORE – The Monetary Authority of Singapore (MAS) will maintain its "policy of modest and gradual appreciation" for the Singapore dollar at its semi-annual monetary review tomorrow (April 12), analysts have predicted.
Ruble and NOK benefit from high oil price
OSLO – The strong oil price has led to strength in currencies such as the Norwegian krone and the Russian ruble, as exporting nations benefit from strong revenue flows.
BarCap enhances eFX platform
LONDON – Barclays Capital (BarCap) has enhanced its eFX trading platform in a bid to offer more accurate pricing and efficient execution for its users.
Options traders top pay bracket
LONDON – UK forex options dealers raked in the largest pay packets this year, with total packages averaging more than £500,000, according to a survey by City-based executive search firm, Napier Scott.
Departures hit Deutsche Bank
LONDON & FRANKFURT – Deutsche Bank has been hit by a series of departures across FX departments in recent weeks.
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.