Trading
FXCM raises $50 million for acquisitions
Retail trading company FXCM raised $50 million in primary proceeds for acquisitions in the first day of trade on the New York Stock Exchange on December 2, said company chief executive Drew Niv, in New York.
UBS restructures European forex sales
UBS has strengthened its sales offering with a key hire amid an overhaul of its European sales structure.
Nomura builds out with smartTrade
Nomura went live with smartTrade Technologies’ liquidity management system (LMS) in November for its electronic FX trading business, with plans to scale the technology across other asset classes.
Trichet matters: The impact of ECB moves
Analysts at BNP Paribas review the impact of the ECB's efforts to support bond markets
Ta Chong Bank live with FinIQ’s Liquidity Link
Ta Chong Bank in Taipei went live with FinIQ's Liquidity Link system at the end of November, to automate the liquidity-provision process in forex options.
Credit Suisse FXPB gains 40 new clients
Credit Suisse has gained 40 new clients since marketing its relaunched foreign exchange prime brokerage (FXPB) business this autumn.
Forex industry boosts operational efficiency with 95% ticket-compression rate
The FX industry has met with initial success in battling operational risk, with eight dealers achieving ticket-compression rates of more 95% through the joint-venture trade aggregation system by CLS and Traiana.
Trading Places, December 6, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Saxo: The world got it wrong
Saxo Bank topped this week’s one-month currency forecast rankings with expectations that the US dollar would benefit from news of further quantitative easing (QE2) by the US Federal Reserve.
Banks look to securitisation of counterparty credit risk
A number of banks are considering securitisations of their counterparty credit exposures, as they look to get their balance sheets in shape ahead of new Basel capital charges.
BAML hires new Russia FICC sales head
Bank of America Merrill Lynch (BAML) has lured a former Goldman Sachs managing director to strengthen its fixed-income, currencies and commodities (FICC) team in London.
Credit Suisse launches enhanced FX prime-brokerage platform
Credit Suisse launched its enhanced foreign exchange prime-brokerage platform today (November 30), facilitating global clearing and execution solutions to hedge funds, asset managers and other financial institutions.
Former Icap director resurfaces
Simon Williams, former FX sales director at Icap, has re-emerged at VTB Capital's fixed-income sales desk in London.
Currency traders prepare for worsening crisis
Currency traders are bracing for further downside risk to the euro, with a surge in euro put sales as the Irish banking crisis worsened last week.
Icap completes first cross-region CNH trade on EBS
HONG KONG - Icap has announced it has executed the first cross-region Chinese yuan trade over electronic broking system EBS.
Gulf currency volumes improve on TR Matching
Gulf Co-operation Council (GCC) currency volumes on Thomson Reuters' Spot Matching Service are picking up, but more market-makers are needed on the system, according to bank sources in the region.
China: Monetary tightening to increase
Dariusz Kowalczyk, senior economist, Asia ex-Japan, at Crédit Agricole believes the People’s Bank of China is only at the beginning of a scramble to control prices
Currency ETPs kick off
ETF Securities saw assets under management (AUM) in its currency exchange-traded products (ETPs) rise by 16% to $240 million in the week of November 15, as investors moved to hedge euro risk.
The euro: Thinking the unthinkable (again)
Simon Derrick, chief FX strategist at the Bank of New York Mellon, revisits the idea of opting out of the euro
smartTrade upgrades clients with StudioAir
smartTrade is migrating clients from smartTrade Studio to StudioAir, an upgraded version of its front-end trading application that enables traders to customise desktop views.
BarCap loses emerging markets chief in New York
Barclays Capital has lost its emerging markets trading chief in the US, amid speculation of a replacement.
SDX expands exotics options
SuperDerivatives is capitalising on increased risk appetite for exotic options with the launch of new correlation products on its multi-asset pricing system, SDX, in the first quarter of 2011.
Trading Places, November 29, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Wells Fargo puts faith in commodity currency growth
Wells Fargo topped this week's three-month forecast rankings with expectations for moderate US dollar weakness against a backdrop of increased instability in Europe, the UK and Japan.