News
SG CIB expands in FX sales
Darren Charnock and David Brickell join Société Générale Corporate and Investment Banking in senior FX sales roles
Buy side could miss Emir reporting deadline
Banks are racing to meet a February 12 deadline for trade reporting under European rules, but buy-side firms might not be ready to meet their obligations in time
SG CIB joins ParFX as latest bank member
The French bank has become the 12th founder member of ParFX, while Bank of America Merrill Lynch started trading last month without becoming a member
Hotspot FX co-founder joins GTS
Steven Reich lands his latest position at Global Trading Systems, having previously co-founded Hotspot FX, among a number of influential industry roles
Sefs battle with confirmations after CFTC relief expires
A second no-action relief period that exempted Sefs from issuing confirmations expired on November 29, leaving FX traders unsure whether Sefs can handle the requirement
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
Icap promotes Ken Pigaga to global COO
Former Americas chief operating officer is promoted to global role for the interdealer broker; other appointments at CLS and ConvergEx Group
BoE's Carney: liquidity support for CCPs a 'last-resort option'
BoE governor insists clearing houses must have enough liquidity to cope with default of two big member firms
HKEx soft launches clearing for interdealer NDFs
Hong Kong Exchanges and Clearing becomes the latest entity to launch clearing services for FX non-deliverable forwards
StanChart looks to eclipse rivals in OTC derivatives
New 'Eclipse' business under Andrew Sterry and Luke Brereton will focus on execution, clearing, liquidity and portfolio services in over-the-counter derivatives
FX Week Europe: 'Patchy' liquidity in FX a concern for the future
Concentration in the number of liquidity providers and the reliability of HFT market-making raises concerns for senior industry officials
FX Week Europe: Low volatility blurs distinctions in e-FX
Only the return of volatility will determine which new and incumbent platforms have gained or lost market share, says SEB's Alastair Crane
FX Week Europe: Eurozone break-up ‘inevitable’, says ECU currency chief
Short-term policies have delayed the break-up of the eurozone, but a disorderly exit of debt-laden countries is inevitable, says chief investment officer Michael Petley
HSBC loses FX derivatives chief Craignou
Vincent Craignou, global head of FX and metals derivatives, has left the bank after more than 10 years
FX Week Europe: Currency managers need to react to short-term trends
Buy-side speakers at the conference divided on prospects for the euro, but all agree investment needs to adapt to short-term trends in currencies
FX Week Europe: Fix reform must address risk-reward imbalance
Banks should be better compensated for the risk they take when executing trades at benchmark rates, say panellists at London conference
FX Week Europe: Fed is in ‘La La Land’ on monetary policy
SG CIB's chief currency strategist hits out at Federal Reserve's failure to appreciate the implications of its QE and interest rate policies
UBS merges FX, rates and credit under new co-heads
George Athanasopoulos and Chris Murphy to head the new business, while Chris Vogelgesang leaves the role of co-head of FX and precious metals
Industry in discussions to change FX benchmark calculation, says ECB official
Senior market participants have suggested widening the time window in which benchmark exchange rates are set in FX, following allegations of manipulation
Mifid rules could force FX swaps onto OTFs
Trialogue negotiations on Mifid II are expected to conclude by February, but traders fear they could include a mandate for FX swaps to be traded on organised trading facilities
Bailey joins Commerzbank as FX options head
Industry veteran Richard Bailey moves back to the sell side to take a new role at Commerzbank in London. Meanwhile, derivatives head Peter Billington leaves the German bank
Regulators clash on Mifid waivers
Some regulators and brokers have expressed fears that exemptions included in Mifid may mean European rules on trade execution are not equivalent to the US – but a key parliamentarian disagrees
Credit Suisse loses two in FX sales
Other moves at Société Générale Corporate and Investment Banking, the CFTC and BAML