Trading

Dresdner sales head departs

FRANKFURT – Juergen Barthel, global head of FX sales at Dresdner Kleinwort Wasserstein (DrKW) in Frankfurt, has left the bank. Although DrKW declined to comment, it is understood Barthel's departure is part of an ongoing restructuring by Harry Culham,…

China allows RMB IR swaps

BEIJING – The People's Bank of China (PBOC) has issued new regulations allowing banks to conduct renminbi-denominated interest rate swap transactions on a trial basis.

The bonuses of networking

Ronald Balzano , president of COESfx, says businesses relying too heavily on trading desks will lose out to firms that offer customers quick and easy access via ECNs

FXall signs TD

NEW YORK & TORONTO – Multibank platform FXall has added Toronto Dominion to its list of liquidity providers, taking its current number of banks to over 60.

BoA builds algo FX capabilities

NEW YORK – Bank of America (BoA) has taken a major step towards building up its algorithmic trading capabilities in the FX space, with the acquisition of algorithmic-driven pricing and trading specialist, Financial Labs.

JPM creates new reporting structure

LONDON – JP Morgan has introduced a new reporting structure in FX following the departure of Frank Rawlins, head of spot FX for Europe and global head of metals trading at the bank in London.

CFTC charges another forex fraudster

WASHINGTON, DC – The Commodity Futures Trading Commission (CFTC) last week charged an individual with defrauding more than $5 million by soliciting customers to trade foreign exchange futures contracts via hedge funds.

SG CIB names deputy

PARIS – Société Générale Corporate & Investment Banking has made Serge Topolanski deputy head of Europe and Asia global FX activities – a newly created position.

Opportunities from Asian tension

Niels Christensen , senior currency strategist at Société Générale in Paris, sees opportunities for dollar bulls and bears when trading the Hong Kong dollar despite the peg

Dresdner builds in sales

LONDON – Dresdner Kleinwort Wasserstein (DrKW) is building its sales capabilities globally, has introduced a new e-trading platform, and is developing its FX prime brokerage capabilities.

FX trading down for ABN Amro

AMSTERDAM – ABN Amro posted a large drop in income from foreign exchange dealing for 2005, despite a large increase in overall trading.

A new maturity for FX?

Justyn Trenner , chief executive and principal of consultancy firm ClientKnowledge, says a more discriminating approach to how liquidity is channelled is essential to the continued growth of the market

JPM creates new reporting structure

LONDON – JP Morgan has introduced a new reporting structure in FX following the departure of Frank Rawlins, head of spot FX for Europe and global head of metals trading at the bank in London.

Forex trading volume soars in 2005

Foreign exchange turnover continued to surge last year, according to surveys from the foreign exchange joint standing committee (FXJSC) chaired by the Bank of England and the FX committee (FXC) of the Federal Reserve Bank of New York.

EBS to put data on sale

LONDON – EBS is to sell historical FX data to banks and non-bank traders via a new service called EBS Data Mine.

Lloyds looks to raise its FX profile

Lloyds TSB may not be well known for FX, but it has made a big-name hire that it hopes will enable it to continue buiding its presence in the fiercely competitive UK market

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