Trading
UBS cuts claim FX roles in Europe
Two FX e-commerce business heads are understood to have left the Swiss bank as the bank executes its recently announced job cuts
GVC Gaesco white-labels FXCM platforms
Spanish broker signs up FXCM for retail forex and CFDs
Gain Capital revenues down as retail volumes halve
Margin forex broker takes hit from fall in retail forex volumes but aims to build institutional business.
No need to panic about collateral supply, says Bank of England
Isda estimates that mandatory clearing and margin could require the posting of up to $30 trillion of initial margin have been inflated, not least because of a likely exemption for FX swaps and forwards, according to a senior BoE official
Saxo Bank on the US elections
As the US presidential elections get underway, John Hardy, chief forex strategist at Saxo Bank discusses the market impact of an Obama or Romney victory
Hong Kong insurers hedge out their US dollar exposure
Insurers in Hong Kong are revising their long-term policy of not hedging out their US dollar exposures
Banks suspend dual-currency deposit sales in Japan to re-document under new regulation
Returns on dual-currency and structured deposits will not be covered by state insurance scheme, Japanese FSA decides
Buy side weighs risk mitigation against clearing costs
Buy-side firms look certain to bear some of the costs that result from mandatory central clearing, with some suggesting they might look to clear non-mandated products, were it not for the prohibitive costs
The jewel in the crown
Despite sweeping changes at a number of investment banks to prepare for regulation and changing market conditions, FX remains a core business for most top-tier banks
Wanted: the FX sales team of the future
Regulation is changing the job description of the FX salesperson, to the extent that the right candidate now needs a broader set of expertise than in the past
Forex TCA heads into pre-trade sphere
Banks are increasingly offering pre-trade transaction cost analysis in an effort to help their clients better understand how to ensure best execution prior to committing to the trade. Kathy Alys reports
Local trade repositories are necessary, says senior HKMA official
The benefits of local trade repositories outweigh the possible disadvantages of multiple reporting requirements, says executive director of HKMA’s financial infrastructure unit
Hotspot FX takes a hit from Hurricane Sandy
A power outage at Knight Capital's New Jersey headquarters yesterday forced Hotspot FX to request that clients divert business to other platforms
AML under the spotlight at FXDD
Retail broker slammed by industry regulator for compliance failures, signalling continued threat of abuse at retail forex brokers
UK FSA issues £250,000 in fines for reporting failures
Regulator clamps down on reporting failures. Fines are the first under new FSA penalties policy.
Advanced Markets exits US retail market
Margin forex brokers continue to exit US market to focus on institutional business
FX to remain a 'cornerstone' of streamlined UBS
Swiss bank admits FX revenues declined during Q3 but vows FX will be a core business in its downsized investment bank
TraFXpure accelerates as three more banks sign up
Bank-backed spot platform now has the support of nine banks as it reveals further details of its matching logic, which it believes will eliminate technology and latency arbitrage opportunities
NAB eyes further expansion after technology overhaul
National Australia Bank completed a three-year technology overhaul in August and now its head of FX and commodities trading is planning further geographical expansion. Miriam Siers reports
Euro will weather the storm, says Natixis economist
Germany will not allow the euro to fail, which is why the currency is performing better than expected, according to Asia economist at Natixis
Hong Kong dollar could be re-pegged, say traders
Recent intervention by the Hong Kong Monetary Authority to stem the strength of the Hong Kong dollar has prompted speculation the currency could be re-pegged
China to widen RMB trading band again before end-2012
Further liberalisation of renminbi is on the cards in the near future, says senior RBS strategist
SurfacExchange to move into emerging market currencies
The start-up currency derivatives platform will add the Brazilian real and the Mexican peso by the start of 2013 as it responds to investor demand for emerging market currencies
FX Week launches iPad edition
Joel Clark introduces FX Week's brand new iPad edition and explains how it will deliver extra value to subscribers