News
Liquidity mirage continues in FX, despite platform efforts
Several FX trading platforms have taken steps to prevent price flashing and other disruptive practices, but some participants remain concerned about the quality of liquidity that is shown by platforms and aggregators
Compressed margins put tight squeeze on FXPB
The combination of rising costs and increased competition in FX prime brokerage has led to a squeeze on margins, but as the business attracts a wider range of clients than ever before, there is still clear demand for those that can afford to keep…
Corporates remain lukewarm on offshore RMB, despite reported growth
Data released from Swift this week suggests international trade settlement in RMB continues to grow, but corporates aren't so sure
Citi loses in e-FX sales
Eugenia Hanoune, head of e-FX sales for Emea, sees a number of departures from her team in London
Volcker rule is driving reluctance to hold risk, warn currency managers
US banks are holding less risk as they prepare for the requirements of the Volcker rule, leading to more short-term volatility and less liquidity in some currencies
NAB expands e-FX sales team
New hires in London and Sydney for National Australia Bank, following the recent promotion of Justin Geaney to head of Ficc digital
Revolving doors in FX at BAML
Bank of America Merrill Lynch loses in FX sales in Paris, but hires in FX spot trading in London
Digital Vega to add non-deliverable options to Medusa
NDOs in testing on Medusa platform as some market participants begin to consider alternatives to deliverable FX options that could be more easily cleared
GFXD beefs up with senior European hire
Andrew Harvey joins global FX division from Morgan Stanley, tasked to focus particularly on Mifid, Emir and the FTT
Newedge appoints China sales head
Jennifer Wang joins Newedge from DZ Bank
Libor scandal makes it tougher to hire forex traders
Banks are staffing up for a livelier foreign exchange forwards market, but taint of Libor rigging is limiting pool of new traders
Goldman Sachs salesperson joins Deutsche
Deutsche Bank adds to its FX investor sales team in New York with a senior hire
LSE's Eden joins Traiana
Traiana takes on new head of product management
Tradition-Icap ramps up FX options offering with RFQ product
Broker is adding VolCall to its Volbroker platform in the hope of taking more of its options business electronic
Industry set to miss CFTC deadline on intermediated FXPB
The deadline for FX agency desks and prime brokers to find a solution to the allocation of Dodd-Frank external business conduct responsibilities expires today
Retail brokers concerned about capital hit to CFDs
Brokers offering CFDs face the prospect of having to raise additional capital to hold against CFDs, leading them to question the product's future
Traiana and MarkitServ in turf war over pre-trade screening
Competition between the two vendors increases as they both seek to gain market support for their respective credit screening and clearing certainty products
Ian Axe steps down from top role at LCH.Clearnet
Chief executive to leave LCH after two years; other moves at JW Partners, Goldman Sachs and Nomura
Katz departs BNP Paribas to join ANZ
Australian bank adds veteran FX trader Jason Katz to its emerging markets team
FX Week USA: CLS expansion will be key to EM currency growth
EBS is 'holding its breath' for the ruble to be added to CLS, but regulatory affairs head cautions the addition of new currencies will take time
FX could move to financial settlement under clearing pressure – GFXD’s Lam
Addressing the challenges of clearing deliverable FX products, Mandy Lam of the global FX division suggests more products could become financially settled in the future
FX Week USA: Speed bumps not the way forward for platforms
The use of randomisation to effectively insert a speed bump into incoming orders on platforms is dismissed by panellists at New York conference
BNP Paribas reshuffles New York forex team
George Nunn takes on a new role in New York
Aviva hires ex-Overlay currency portfolio manager
Liam Spillane from BNP Paribas' Overlay will join Aviva's emerging market debt team in London