Foreign exchange

Gray decamps from Saxo Bank

LONDON - Saxo Bank has lost its senior manager in institutional sales in London, the Copenhagen-based dealer has confirmed with FX Week .

Lloyds TSB expands forex solutions team

LONDON - Lloyds TSB Corporate Markets has made four hires in its corporate and institutional foreign exchange solutions team in London, as part of a continued effort to expand its risk solutions service.

Retail platforms in currency expansion

NEW YORK - Online FX trading companies CMS Forex and FXCM have added new currencies to their trading platforms, allowing retail traders to trade in emerging market currencies.

Taratunio joins Bank of America

NEW YORK - Senior foreign exchange salesperson Gary Taratunio is heading to Bank of America (BoA) in New York, after leaving JP Morgan last month.

Icap quells fears with positive Q2 results

LONDON - Interdealer broker Icap quelled fears over the future performance of its businesses last week, by reporting a 15% rise in second quarter revenues compared with the same period last year.

BoA in global reshuffle

NEW YORK, CHARLOTTE & LONDON - Bank of America has consolidated its global rates, currencies and commodities (GRCC) and credit products (GCP) businesses into a newly formed global fixed-income platform.

Wesselius joins Deutsche

AMSTERDAM, ATHENS & LONDON - Deutsche Bank has hired BNP Paribas' former foreign exchange sales head for the Netherlands to lead its Dutch FX coverage.

TraderTools gets smart with liquidity

NEW YORK AND PARIS - FX trading technology vendor TraderTools has implemented Smart Trade's STTP 5.5 liquidity management system for use within its Liquidity Management Platform.

Moumdjian quits BoA

NEW YORK - Harry Moumdjian, principal and head of electronic solutions sales for North America at Bank of America in New York, has resigned from the bank.

The technological arms race continues...

One of the key takeaways from the FX Week USA congress last Tuesday is that the unrelenting spend on technology seen over the past few years is unlikely to end. A quick poll of delegates found that two-thirds will spend more on technology in fiscal year…

CME posts surge in Q2 forex volumes

CHICAGO - The Chicago Mercantile Exchange (CME) reported a strong increase in contract volumes in second-quarter results released last Tuesday (July 1).

Investors keen on double-short euro ETNs

NEW YORK - Morgan Stanley's Market Vectors double-long leveraged euro exchange-traded notes (ETNs) have outperformed their double-short counterparts by almost 30 times in trading volumes.

More departures from JP Morgan

LONDON - Mass redundancies are continuing to affect the foreign exchange desks of JP Morgan in London, with two former Bank One staff reputed to have left the US dealer this month.

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