Foreign exchange
A call for closure
Indications of the multiplicity of challenges that central clearing will introduce to the forex markets came thick and fast at the FX Week Europe congress in London last Tuesday (November 16).
Trading Places, November 22, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
UBS hires in options trading
Swiss bank UBS has hired two new options traders to its Stamford trading floor, the bank has confirmed.
HSBC wins Schaeffer from BAML in new US options role
HSBC has hired Burt Schaeffer as its North America and Latin America currency options trading chief.
Morgan Stanley loses options trader in London
Andrew Mayer, an executive director at Morgan Stanley and member of the bank's options business in London, has left the bank, according to market sources.
Pension funds boost investment in FX
Pension funds are increasingly investing in FX as an asset class, said Thanos Papasavvas, head of currency management at Investec Asset Management, at last Tuesday's (November 16) FX Week Europe conference in London.
BAML promotes Rolfe as London FX sales chief
Matthew Rolfe has been promoted to head of FX sales to UK corporates at Bank of America Merrill Lynch (BAML), following the resignation of Paul Hart earlier this month.
Custodians challenge FX prime brokers in clearing landscape
Custodian banks will become the biggest threat to FX prime brokers if clearing is introduced to foreign exchange, according to Jason Vitale, global head of dbClear FX - FX prime brokerage and clearing at Deutsche Bank.
Signs of dollar weakness
Divyang Shah, strategist at Thomson Reuters IFR Markets, winner of the FX Week Best Bank award for FX strategy and research, shares his views on broad-based dollar weakness
Second flash crash inevitable
A second flash crash is inevitable while there is no consistency in the rules at exchanges, said delegates at the FX Week Europe congress in London last Tuesday (November 16).
Tech takes lead over regulation in 2010
Technology has been the main focus for the market in 2010, according to a delegate poll at the FX Week Europe congress held in London last Tuesday (November 16).
BoE: High-frequency traders raise risks of liquidity event
The foreign exchange market needs to address the increasing role of high-frequency traders as market-makers to insure against a liquidity event, says Michael Cross, head of the foreign exchange division at the Bank of England (BoE).
BarCap predicts trouble ahead for the euro
Barclays Capital dominated this week's one-month forecast rankings with expectations for the euro to benefit from a seemingly hawkish stance by the European Central Bank (ECB).
UBS regains top spot for CLS
UBS swings back into the lead as the top provider of CLS third-party services, as demand for access to the industry utility continues to rise.
BIS: FX derivatives growth rate slows
The over-the-counter FX derivatives market has seen a slowdown in growth rate following the financial crisis, as revealed in the Bank for International Settlements’ (BIS) triennial foreign exchange survey and its semi-annual OTC derivatives statistics.
AFME preps for Dodd-Frank with trade repository services launch
The Association for Financial Markets in Europe's (AFME) global FX division will launch a process, on behalf of its members, to select a provider of trade repository services for the forex market, it said on November 15.
Tullett Prebon emerges as FX broker powerhouse
Tullett Prebon has eclipsed the competition in the best broker category, coming first in currency options, emerging markets and forwards FX.
BarCap reports further decline in FICC
Barclays Capital fixed income, currency and commodities’ (FICC) revenues fell to £1.9 billion in the third quarter, despite an improved performance in FX over the period.
In Brief, November 15, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Deutsche retains lead but BarCap surges up
Deutsche Bank maintains its lead in this year’s FX Week Best Bank awards, as Barclays Capital surges into second spot, relegating Citi into third in this year’s industry survey.
UBS resurges to take first prize for Swiss franc
UBS has taken top honours in the Swiss franc dealer category, in a spectacular comeback from fifth place last year to first.
Murex is first choice for risk management vendor
Murex has been ranked top vendor for risk management and options pricing software after jumping two places from third last year, taking the throne from 2009 leader Thomson Reuters.
Integral strengthens sales team new MD
NEW YORK - Bruce Wolf has joined technology vendor Integral as managing director of FX sales in the US.