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FX Markets - Vol 18 No 30

ANZ buys into Vietnamese brokerage

HO CHI MINH CITY – Australian and New Zealand Banking Group (ANZ) has agreed to acquire a 10% stake in Vietnamese securities and investment banking organisation Saigon Securities.

Citi appoints head of electronic execution

NEW YORK & LONDON – Citi has appointed Richard Evans to a newly created role as global head of electronic execution in London, and has relocated its current head of fixed-income, currencies and commodities from New York to London.

Trading Technologies to connect to MexDer

CHICAGO & MEXICO CITY – Chicago-based software vendor Trading Technologies International (TT) has announced it will connect its derivatives trading platform X_TRADER 7 to the Mexican Derivatives Exchange (MexDer).

RBS adds in structured products

Stanley Ng has been appointed managing director, head of structured investor product development and marketing at RBS in Singapore.

ETrade to launch US retail FX trading

NEW YORK – Electronic broker ETrade will make FX trading available to US retail investors in five currencies via its Global Trader platform by this Friday (July 27). GlobalTrader has been piloting since February ( FX Week , February 26).

WMBA head speaks on best execution

LONDON – A potential solution to proving best execution in FX options and ancillary services is to reclassify the individual client, according to David Clark, chairman of the Wholesale Markets Brokers' Association (WMBA).

BoA realigns under GRCC umbrella

NEW YORK – Bank of America has realigned its currencies business alongside global rates and commodities, within a new global rates, currencies and commodities (GRCC) function, the bank has confirmed.

RBS's subprime prediction pays off

Royal Bank of Scotland (RBS) topped the one-month currency forecast tables this week, by predicting the US subprime mortgage market would lead a sell-off in credit markets.

Lehman appoints risk head

LONDON – Lehman Brothers has appointed Jason Tilroe as global head of its risk solutions group. Tilroe will be based in London and report to Larry Wieseneck, head of global finance.

CME to launch on Swapstream

The Chicago Mercantile Exchange (CME) plans to launch a centrally cleared interest rate swap product on its electronic swaps platform Swapstream, from the first quarter of 2008.

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