Trading
Connors out of Goldman Sachs
Senior foreign exchange manager leaves US bank for alleged compliance irregularities
Bayer warns EC: Don’t force us to slash jobs in EU
Christian Held, head of corporate treasury at pharmaceutical giant Bayer, threatened to move jobs abroad unless the European Commission “lets common sense prevail” over FX derivatives regulation.
Pension funds need exclusion from clearing, says Record
Mandatory clearing of FX forwards will seriously disrupt the investment strategies of pension funds, according to Neil Record, chairman at Record Currency Management.
UBS: FX CCPs will be “too big to fail”
Foreign exchange central counterparties (CCPs) will automatically be “too big to fail” because the consequences of failure are too terrible, according to Huw Evans, managing director and chief operating officer of FX at UBS.
Thomson Reuters’s time in the spotlight?
The old rivalry between EBS Spot and Thomson Reuters might be getting a new lease of life, as Thomson Reuters positions the Thomson Reuters Dealing system as a Sef and MTF-compliant platform for bespoke product trading. And now the Matching Host…
Thomson Reuters Dealing targets Sef and MTF compliance by Q4
Thomson Reuters aims to make the Thomson Reuters Dealing peer-to-peer conversational trading application compliant under swaps execution facility (Sef) and multi-lateral trading facility (MTF) rules by Q4, the vendor tells FX Week.
China key to euro fortunes
Simon Derrick, global head of FX strategy at Bank of New York Mellon in London says China’s fortunes are tightly entwined with those of the euro
BarCap departures on both sides of the Atlantic
Barclays Capital saw departures in London and New York last Wednesday (January 12) as the bank undergoes a series of cutbacks, according to market sources.
Taylor calls it quits at CZ
Jason Taylor is leaving Commerzbank in London at the end of the month, according to internal sources at the bank.
CBA hires in spot and trading in NY
Commonwealth Bank of Australia has made two new hires in sales and trading in New York.
4Cast wins out with euro risk
4Cast topped the one-month currency forecast rankings by predicting that the euro bounce at the start of the year would take a hit from the return of concerns over euro sovereign debt.
Trading Places, January 17, 2011
Read this week's Trading Places to catch up on people moves across the FX world.
EC: Prepare for FX clearing in US and EU
Senior figures from the European Commission (EC) and European Parliament signalled that an outright clearing exemption for forex was unlikely, at an Association for Financial Markets in Europe conference in Brussels held on January 12.
Saxo hires Citi vet
Saxo Bank has hired Citi’s former global head of client management as it expands its front-office business in London.
Brown returns to market at BBVA
HSBC veteran returns to market in key role for Spanish dealer
Yield strategy wins out in 2010
Currency managers using the yield strategy would have been top performers in 2010, indicates research from Royal Bank of Scotland. The bank’s naive simulations of currency strategies found that the yield strategy generated 8.9% last year and 5.3% in…
ParkerFX loses out in November
The Parker FX Index reported a –0.39% return for November as the risk-aversion based US dollar rally caught out the majority of currency managers.
Eurozone faces “intractable” problems, says BarCap economist
Eurozone faces stunning economic and financial challenges, said Julian Callow, chief European economist at Barclays Capital.
Icap to launch decimalised pricing on majors in February
Interdealer broker Icap will launch decimalised pricing on major currency pairs on EBS Spot on February 14, the broker told FX Week.
Spot volumes flat in December
Foreign exchange spot volumes for December were level compared to December 2009, but dropped significantly from November, due to the Christmas season slowdown.
New year, new faces at RBS and UniCredit
Royal Bank of Scotland has hired Eric Robin to head FX bank and institutional sales for Europe, focusing on European asset managers and banks.
Subterranean euro-sick blues
The sovereign debt crisis is not going away, and will drive much of the action in the first quarter at least, writes Marc Chandler, global head of currency strategy at Brown Brothers Harriman in New York