Trading
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.
'Barracuda trading' swims to the fore in Europe
French finance minister Christine Lagarde yesterday told a parliamentary committee that high-frequency trading (HFT) should be regulated "very strictly", and even banned in "exceptional" circumstances.
CME’s CCP to clear Middle East products and reduce 'black swans'
The Chicago Mercantile Exchange's (CME) bid to eliminate 'black swan' events in the commodity derivatives arena received a boost with the announcement that the world's largest derivatives exchange will start clearing a new range of Middle Eastern and…
EU Prips consultation document accepts one size does not fit all
The European Union has published its consultation document on the legislative steps for the Packaged Retail Investment Products (Prips) initiative. The document contains few surprises and is available for final comments until January 31, 2011.
Dodd-Frank slows down full implementation of Basel II
Contradictions in the US regulations slowing down exit from Basel II parallel run
RBC rebuilds sales team, adds FX veteran Baune
Royal Bank of Canada is continuing to bolster its global sales force, with the hire of an industry veteran in London.
First offshore renminbi swaption accomplished in Hong Kong
The first offshore renminbi OTC swap option was carried out this week between BNP Paribas and HSBC in Hong Kong, brokered by Icap.
Pinto returns to Goldman Sachs
Goldman Sachs continues to build in electronic commerce sales in New York.
BAML hires Vamvakidis as new strategy head for Europe
Athanasios Vamvakidis has joined Bank of America Merrill Lynch (BAML) Global Research, London, as head of European G-10 foreign exchange strategy, reporting globally to David Woo, head of global rates and currencies research in New York.
A call for closure
Indications of the multiplicity of challenges that central clearing will introduce to the forex markets came thick and fast at the FX Week Europe congress in London last Tuesday (November 16).
Digital Vega launches multibank FX options trading platform
LONDON - Digital Vega has become one of the first vendors to fill a gap in the market for a multi-bank forex options trading platform, with the launch of Medusa last week.
Trading Places, November 22, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Market endorses 'elegant' CFTC proposal on margin
The Commodity Futures Exchange Commission (CFTC) tabled four proposals on segregation for client margin in cleared over-the-counter derivatives trades, and early feedback from the industry indicates a clear front-runner.
UBS hires in options trading
Swiss bank UBS has hired two new options traders to its Stamford trading floor, the bank has confirmed.
HSBC wins Schaeffer from BAML in new US options role
HSBC has hired Burt Schaeffer as its North America and Latin America currency options trading chief.
Morgan Stanley loses options trader in London
Andrew Mayer, an executive director at Morgan Stanley and member of the bank's options business in London, has left the bank, according to market sources.
Société Générale pushes Alpha FX
Société Générale has begun mass marketing of its in-house developed electronic trading platform, Alpha FX, as it phases out First Access, its Currenex white-labelled platform.
Pension funds boost investment in FX
Pension funds are increasingly investing in FX as an asset class, said Thanos Papasavvas, head of currency management at Investec Asset Management, at last Tuesday's (November 16) FX Week Europe conference in London.
BAML promotes Rolfe as London FX sales chief
Matthew Rolfe has been promoted to head of FX sales to UK corporates at Bank of America Merrill Lynch (BAML), following the resignation of Paul Hart earlier this month.
JP Morgan offers streaming spot DXY
JP Morgan is pushing out streaming tradable spot prices for the US dollar index (DXY) over its electronic trading platform MorganDirect, with liquidity across a full forward curve and the ability to roll positions automatically.
Custodians challenge FX prime brokers in clearing landscape
Custodian banks will become the biggest threat to FX prime brokers if clearing is introduced to foreign exchange, according to Jason Vitale, global head of dbClear FX - FX prime brokerage and clearing at Deutsche Bank.
Signs of dollar weakness
Divyang Shah, strategist at Thomson Reuters IFR Markets, winner of the FX Week Best Bank award for FX strategy and research, shares his views on broad-based dollar weakness
Second flash crash inevitable
A second flash crash is inevitable while there is no consistency in the rules at exchanges, said delegates at the FX Week Europe congress in London last Tuesday (November 16).