Foreign exchange

NAB strengthens UK forex team

LONDON - National Australia Bank (NAB) has expanded its London foreign exchange team, with three hires covering Europe-domiciled business.

New generation CEP for forex liquidity

A white paper being released today (June 30) is set to evangalise the benefits of using adaptive complex-event processing (CEP) technologies for liquidity management in foreign exchange.

Nordea signs up to 360T

COPENHAGEN - Nordea has joined the 360 Treasury Systems (360T) TEX multi-dealer cross-product trading system, in response to a spike in interest among mid-cap clients for the platform, the bank said.

HSBC emerges in Georgia

TBILISI - HSBC is capitalising on rising demand for forex services in the former Soviet Union by opening its first commercial banking branch and head office in Georgia.

CFTC moves to close 'London loophole'

LONDON - The Commodity Futures Trading Commission (CFTC) has moved to impose US position limits and hedge exemption requirements on US customers trading West Texas Intermediate (WTI) crude oil on London-based ICE Futures Europe.

Quant demand in full force

GLOBAL - The high demand for quantitative foreign exchange specialists continues, fuelled by concerns over risk controls and growth in local currency derivatives and hybrid derivatives trading, industry sources have told FX Week .

Icap breaks into retail forex market

LONDON - Icap is breaking into the lucrative retail foreign exchange market by teaming up with London-based retail equity and FX trading sister company City Index, senior officials tell FX Week .

UniCredit eyes up US

NEW YORK - UniCredit has turned its sights to the US by making key foreign exchange hires, after driving its sales and trading businesses in Asia.

Calyon adopts Caplin Trader front end

LONDON - Calyon plans to use multi-asset class web-based front end Caplin Trader, by London-based web technology vendor Caplin Systems, for its new online single-dealer portal for fixed-income trading.

BoA hires London forex duo

LONDON - Bank of America (BoA) is hitting back after making severe cuts to its foreign exchange team in January by boosting its sales and trading franchise in London with two senior hires.

TD Securities expands in forex options

LONDON - TD Securities has hired David Hitchins as managing director and global head of foreign exchange options in London to spearhead the global expansion of the dealer's FX options business.

Solid Q2 for FX

NEW YORK - Lehman Bros and Goldman Sachs attest to solid foreign exchange revenue gains in the second quarter, according to results released last week.

SuperDerivatives upgrades forex platform

LONDON - Seven banks have begun using upgraded pricing and risk management software offered by SuperDerivatives that includes expanded exotics support and integrated price discovery, marketing, reporting and online execution.

Deutsche strengthens in Russia

MOSCOW & BRASILIA - Deutsche Bank has boosted its FX operations in Russia and Brazil by recruiting staff from JP Morgan and Merrill Lynch.

Staff shedding continues at JP Morgan

NEW YORK AND LONDON - In one of the first cuts to its own FX team, JP Morgan is said to have axed a senior FX salesperson in New York, as part of a continuing attempt to reduce headcount after acquiring troubled bank Bear Stearns.

Westpac boosts FX sales ahead of merger

LONDON AND NEW YORK - Australian dealer Westpac is bolstering its FX sales presence in the US and UK, less than a month after announcing plans to merge with domestic rival St George.

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