News
Trading Places, 4 August, 2014
Changes at Credit Suisse, HSBC, EBS, RBS and Barclays this week
JP Morgan appoints senior executive to new compliance team
US bank creates new team within the FX and rates unit, responsible for regulation and compliance
CME Fenics purchase sheds light on broker struggles
Need for a cash injection to ride out current low volatility may lead to further sales, say participants
Cross-margining key for RMB futures market - SGX
Cross-margining contracts across asset classes will give SGX a competitive advantage, with up to 30% margin savings, the exchange claims
EM currencies offer hope amid low volatility
FX strategists say emerging market currencies still present opportunities in some regions, despite poor volatility in G-10
Spot volume retracts by one-third
Central bank surveys published on July 28, and public monthly data from EBS, Thomson Reuters and Hotspot highlight the decline
CLS appoints chief information officer
LCH.Clearnet CIO jumps ship after three years to take on a similar role at CLS
‘Artificial’ FX prime brokerage prices on the rise
Following a pullback from FXPB by some banks, prices are rising to reflect increasing capital requirements and CLS fees
FX treasurer exits Maple Leaf Foods
Risk manager at the Canadian food giant leaves his FX role and is understood to be looking for a new position in the industry
StanChart hires senior salesmen in New York
Recent hires at StanChart look to build on Kikis' new role in New York, following his relocation from Singapore in June
FX volumes up over six months, but down year on year
Spot and options turnover down significantly on April 2013, and are the main contributors to falling market volume
Pencil in a year-end parity party
Relative growth, commodity prices and valuation favour further declines in the cross, despite post-RBNZ knee-jerk spike
OTC market fragmentation rises in wake of Sef trading
Isda research highlights split between US and Europe in swaps trading
FX reserves hit historic highs
Growth in FX reserves continued last year, but at reduced speed
Reconciliation requirements threaten delegated reporting
Another regulatory deadline, another set of headaches for banks and buy-side participants
Nomura hires head of FX LatAm trading
Nomura hires former Barclays FX trader to head LatAm trading while Liran Blum leaves the bank in New York
Westcott-Hutton joins NAB as director
She heads bank's FX sales efforts to institutional accounts
Credit Agricole makes senior hire in sign of recovery
Tony Botting appointed global head of linear FX, reporting directly to Dmitri Shuster at Credit Agricole
RBC hires head of EM and global FX strategy
Canadian bank beefs up global research team
One in, one out in FX at BNP Paribas
French bank makes two changes to its FX sales force in New York
FX market doldrums hit Credit Suisse earnings
Private banking unit at Swiss bank struggles amid low FX volatility
Integral settles with Tolat, but gears up for appeal
FX vendor settles stock purchase with former CTO, but wants to pursue dismissed court allegations
UK SFO confirms FX investigation launch
SFO becomes the latest authority to join the probe into alleged collusion in FX markets