Trading
Nomura hires Agarwal to head EMFX trading
Arvind Agarwal moves to new role at the Japanese bank from Bank of America Merrill Lynch
Iqbal returns to Goldman to head exotics trading
Adam Iqbal left Goldman in November 2017 for a portfolio manager role at Pimco
Hudson joins BGC’s Fenics as global head of e-FX
Liam Hudson was previously the global head of electronic FX at BAML
Michelsen joins Handelsbanken
Otto Michelsen moves to Handelsbanken from Arion Bank as an FX options trader
Elgarf joins ADS Securities in London
He moves to the firm from retail broker IG
CLS onboards Japanese funds
Japan-domiciled funds gain access to settlement through CLS as third-party participants for first time
Scott wins extradition appeal
Stuart Scott wins extradition appeal as the October 2017 verdict is overturned
FX turnover hits new record high in UK
All global currency trading centres register growth in April, compared with previous semi-annual survey
Fred Boillereau leaves HSBC, Badhwar moves up
HSBC separates FX & commodities from global markets corporate services, with replacement for Boillereau to be announced
Dollar will be tested if stocks correct – City Index
High risk of major stock market correction in US will dampen dollar strength, says broker
Nex revenues rise in Q1 2018
The firm reports 7% rise in first quarter of fiscal year and confirms CME transaction on track
SGX is launching FX futures solution
New feature lets market participants trade customisable FX futures contracts in an OTC fashion
Peso volatility pulls millennials to currency trading
Interest is incentivising local and international companies to invest in education initiatives to meet budding demand
Katz’s sentencing adjourned until January
Jason Katz is the first trader to admit to wrongdoing
Robert Bogucki loses motion to dismiss
But judge says the two counterparties to the trade have no standing to sue Bogucki or Barclays
Venue competition heats up as e-FX volumes plateau, says Greenwich
Following 74% growth in electronically executed FX in 2007-14, volumes flattened for four years
BNY Mellon launches FX options trading
The move fills a strategic gap in the bank’s big push into foreign exchange
NYDFS fines Deutsche Bank $205m for FX
Fines relate to practices between 2007 and 2013, when Deutsche was the world’s largest dealer by market share
Northern Trust partners Lumint for FX solutions
The partnership supports further innovations in hedging programme management and analytics
Phil Weisberg joins oneZero’s advisory board
The firm hopes to use his institutional market insight as it seeks new opportunities
Mark Johnson out of prison on bail
Former HSBC currency boss allowed out on bail while his appeal is pending
Citadel hires Findlay in London
Iain Findlay joins the hedge fund from Citi as an FX options trader
Flow Traders goes live to make FX splash
With 700-plus approved counterparties and significant in-house flows from its ETP business, Flow Traders prepares to realise its FX ambitions
Mark Johnson’s attorneys point to Isda agreement in appeal
“How are FX traders supposed [to] know what trading constitutes wire fraud when the government cannot even answer that question?” attorneys ask