News
SG continues sales build-up
LONDON – Francesco Quilici joins SG Corporate & Investment Bank (SG CIB) in London today, May 24, as an analyst supporting Italian FX sales. Quilici will report to Jean-Philippe Castellani, head of FX sales in London, and works alongside Italian sales…
Bear adds for 24-hour sales
LONDON – Bear Stearns has added to its London-based sales team in an effort to improve overnight liquidity at the 24-hour centre, an official told FX Week .
Calyon to expand research
LONDON – Calyon is aiming to expand its currency and macro strategy team, following the merger last month of Crédit Agricole Indosuez (CAI) and Crédit Lyonnais (CL).
Misys and Currenex link for STP
NEW YORK – UK systems provider Misys Wholesale Banking Systems and multi-bank FX trading portal Currenex have formed an alliance to provide clients with straight-through trade processing from execution to confirmation and settlement.
GFI white-labels options pricing
LONDON – Inter-dealer broker and market data firm GFI Group last week announced its first white-label deal for Fenics FX Online, the web-based version of its flagship forex options pricing, analytical and revaluation system.
Bank One casualties emerge
LONDON – The first casualties from JP Morgan Chase’s upcoming purchase of Bank One – due to complete on July 5 – emerged last week with the news that both the Chicago-based bank’s FX heads in London are leaving.
Rocketing oil price dominates currencies
LONDON – The rocketing price of crude oil is continuing to dominate the currency markets, propping up the currencies of oil producers while hitting oil consumers hard.
Tullett starts e-delivering data
LONDON – Tullett Financial, the data sales arm of broking group Collins Stewart Tullett, has started delivering data over the internet in a bid to win more small clients.
ACI European Congress: exhibition preview
Delegates at the seventh ACI European Congress this week will have plenty to keep them busy, as vendors and banks line up a vast array of product demonstrations and promotions.
Hedge funds using more leverage, says Greenwich
Greenwich, CT – Almost a third of 36 hedge funds surveyed by research company Greenwich Associates increased their use of leverage in the past year.
Dresdner returns to Japan
TOKYO – Dresdner Kleinwort Wasserstein has re-launched FX sales in Tokyo after an absence of more than two years.
Congress rise slows Indian rupee ascent
MUMBAI – The success of the Congress Party in the recent Indian elections sent tremors through the FX market last week, and may have a longer-term negative impact on the world’s largest emerging currency market.
CLS is 'changing the front-office'
LONDON – The continuous-linked settlement (CLS) service for FX trades has changed credit and trading practices among the majority of its users, reveals research from IT consultancy TowerGroup to be published this week.
Forwards head leaves Citi
NEW YORK – Head of FX forwards trading Vincent de Lorenzo left Citigroup in New York earlier this month, a source at the bank told FX Week .
Vendors gather for DWT
LONDON – FX and trading technology vendors are gathering in London this week for the tenth annual Dealing with Technology exhibition.
Barclays Capital hires new FX strategy head
LONDON – David Woo will take charge of FX strategy for Barclays Capital in London, effective June 9. He joins from Citigroup, where he was head of local markets strategy for central and eastern Europe, Middle East and Africa, as well as global strategist…
WestLB live with Hotspot FXi link-up
NEW JERSEY – WestLB in April became the first client to go live with technology vendor Cognotec’s automated link to HotspotFXi.
Advanced IRB Basel II approach delayed
BASEL – The Basel Committee on Banking Supervision has said that implementation of the advanced internal ratings-based approach (IRB) for credit risk and the advanced measurement approach (AMA) for operational risk will be delayed until the end of 2007…
NAB’s forex losses wipe out trading income
MELBOURNE – National Australia Bank’s entire first-half trading income was wiped out by its FX options losses, the bank’s financial results revealed last week.