Articles by Joel Clark
CME to expand paired delivery as banks rethink third-party CLS
As banks scale back provision of CLS settlement to exchanges and CCPs
Integral claims against EBS's Tolat rejected in US court ruling
US court rules in Viral Tolat's favour after 14-month legal battle
FX options clearing gains momentum
Discussions on a clearing mechanism for FX options are finally underway
Hungary targets forint entry into CLS
Hungary's central bank has committed itself to bringing the currency into CLS, FX Week understands, and sources believe it could be added as early as next year
Nomura’s Neal to join Deutsche
Michelle Neal has left her senior role at Nomura to join Deutsche Bank as global head of listed derivatives in the markets clearing and Fic market structure business
FX volume resumes steady rise after yen-driven spike, surveys reveal
Turnover in the US and the UK declined between October and April, with a sharp fall in spot, but volume remains up year-on-year
Redefining roles within the FX market
Many trading platforms and industry utilities have been driven to redefine their roles within the industry in recent years, and banks will have to follow their lead, writes Joel Clark
Volume data creates distorted view of liquidity
As the six main FX committees prepare to release the results of the latest semi-annual FX turnover surveys this week, Joel Clark looks at volume trends in the industry over the past three years
Deutsche blazes trail with decentralised front-office staff
A small FX sales team in Birmingham might seem a minor project, but industry veteran Steve Turner gave up his preconceptions about the city last year to run the team, and believes it allows the bank to improve the quality of sales while reducing costs
UBS expands Purves eFX role to include rates and credit
Chris Purves now global head of FX, rates and credit, reporting to Chris Murphy
RMB convertibility will be catalyst to offshore trading, say bankers
Buy-side firms will remain reticent in using renminbi until it becomes a fully convertible currency, despite the progress that has been made in recent months
Citi and Deutsche take action against staff as FX probe continues
Chief dealer Rohan Ramchandani has been dismissed from Citi, having been on leave since October, while Deutsche has also suspended traders in the US
JP Morgan’s Rohrbaugh takes chair at Fed FX committee
Troy Rohrbaugh, global head of FX and rates at JP Morgan, succeeds Citi’s Jeff Feig as chair of the FX committee in the US
Saxo hires Matteo Cassina to head institutional business
New hire reflects Saxo Bank's determination to accelerate its push into the institutional market
Newedge appoints co-heads for commodities and currencies
Franck Borgel and Francois Combes appointed to lead the firm's currencies and commodities business, following the departure of John Fay
Nomura hires ex-SG CIB structurer
Benoit Duhil de Benaze has joined Nomura in London, where he reports to Tim Owens
Perspectives on 2014: David Puth, CLS
Working with dealers and central counterparties on settlement of centrally cleared FX options is a ‘high priority strategic objective’ for 2014, says CLS chief executive David Puth
FX clearing a priority for 2014, vows CLS chief
Working with banks and CCPs to facilitate central clearing of OTC FX options is 'high priority strategic initiative' for CLS this year, says chief executive David Puth
Inequality and deflation will be key trends in 2014, Saxo predicts
Danish bank publishes its 10 'outrageous' predictions for 2014, mooting the possibility that five fragile EM currencies could fall by as much as 25% against the dollar
SG CIB expands in FX sales
Darren Charnock and David Brickell join Société Générale Corporate and Investment Banking in senior FX sales roles
Rising cost of credit drives corporates back to voice trading
Corporate treasurers have been facing up to the increased costs of hedging as their bank counterparties deal with regulation, but some say rising credit charges are driving them to revert from electronic platforms to voice trading. Joel Clark and Miriam…
CLS raises £160 million capital from shareholders
Hefty capital raise completed last week to enable CLS to meet demanding new capital requirements and support future growth
FX Week Forum: Citi tops Best Banks survey
Joel Clark interviews Anil Prasad, Citi's global head of foreign exchange and local markets, after Citi was voted top in FX Week's annual market survey
Citi investment in FX pays off as it regains top position
After four years in second or third place, Citi has returned to first place in this year's Best Banks survey as a result of its focus and investment in foreign exchange