Foreign exchange
Dodd-Frank: forex swap clearing exemption at Treasury secretary’s discretion
Blanket FX exemption dropped from final bill; Treasury to determine issue
CMC: euro's loss is dollar's gain
CMC Markets (CMC) has topped the one-month and three-month currency forecast rankings with a euro-bearish, dollar-bullish stance
RBC hires new head of EMEA strategy
LONDON – RBC Capital Markets (RBC) has hired Robert Beange as a managing director and head of strategy for Europe, the Middle East and Africa (EMEA), it announced on June 28.
Bache adds to London FX team
LONDON – Bache Commodities, a subsidiary of Prudential Financial, has hired Jonathan Webb as head of FX strategy and George Tsiourvas as a vice-president in FX sales.
Eurozone fiscal woes could be eased by EM exposure
Countries with sovereign debt problems, such as Spain, could benefit from their exposure to emerging market assets and currencies
Deutsche makes two senior hires in Moscow
MOSCOW – Deutsche Bank has hired Bulent Ilgun as head of treasury, and head of rates and FX trading in Russia, it announced on June 30. It also announced the hire of Evgeny Monakhov as head of equity sales for Russia.
Trading Places, July 5, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
In Brief, July 5, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Credit Suisse continues Asia build
HONG KONG - Credit Suisse made a significant push to expand its presence in the foreign exchange market in the Asia-Pacific, with six sales hires in Japan, Singapore and Hong Kong.
Deutsche loses two in San Fran but gains in New York
SAN FRANCISCO & NEW YORK - Deutsche Bank has lost two foreign exchange salespeople in San Francisco but gained one in New York, according to market sources.
In Brief, June 28, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Super-competitive core won’t stop euro losses
The euro’s 'peripheral risk premium' has continued to rise through the bounce in EUR/USD. A super-competitive and rapidly recovering core won’t stop it rising further. Tighter policy in the core raises the deflationary benchmark for the periphery, adding…
FXCM gets technical, tops one-month table
FXCM topped FX Week's one-month forecast rankings for the first time this year by focusing on technical analysis.
Trading Places, June 28, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Popofsky quits BNPP
NEW YORK – Garry Popofsky resigned from BNP Paribas yesterday (June 24), according to an internal memo.
UBS hires former BarCap sales duo
LONDON – UBS has hired George Athanasopoulos and Richard Longmore in senior sales positions in London, according to internal sources.
BAML brings in new head of EMEA FXPB
LONDON – Bank of America Merrill Lynch (BAML) has hired Mark McDonnell to head its foreign exchange prime brokerage team for Europe, the Middle East and Africa (EMEA) from London, according to an internal memo.
Swings and roundabouts
Howard Friend, chief market strategist at MIG Bank, explains the ‘2F pattern’, a system he has developed to identify the characteristics of a trend and calculate where to enter a position in its direction
China moves on currency
BEIJING - The Chinese yuan fell significantly against the US dollar in Asian trading today, as markets reacted positively to the People’s Bank of China’s plans to disband the US dollar peg.
Credit Suisse loses Hassan but gains in EM
LONDON, NEW YORK & HONG KONG - Credit Suisse has lost an FX salesperson in London but has kept its eye on the prize with a series of hires in Hong Kong targeting emerging markets.
Hotspot continues volume growth
JERSEY CITY – Hotspot FX reported a record month in May, with average daily volumes reaching $48.7 billion – double count [??] – up from $19.4 billion in May last year.
BNPP carves out bigger sales team
LONDON & NEW YORK – BNP Paribas (BNPP) has expanded its sales team with a key hire in London and three new starters in New York.
Revolving doors in JP Morgan FX sales
LONDON – JP Morgan has hired an electronic foreign exchange salesperson but has lost three others in FX sales, according to market sources.