News
Barclays launches client aggregator in response to fragmentation
Gator smart order routing tool has been tested internally by Barclays spot traders for more than a year, and is now being rolled out to clients
EBS hires Richard Kerschner from CLS
Kerschner, who had been at CLS since 2010, takes on the same role – chief corporate development officer – at EBS
Integral targets institutional buy side with InvestorFX platform
New platform launch from Integral is targeted to meet the specific needs of investment managers trading foreign exchange
Industry disappointed by Basel persistence on margin
Lobbyists express concern that regulators appear intent on requiring variation margin to be posted against FX swaps and forwards, despite the costs involved
Bank of England to establish RMB swap line
Ten months after the UK government launched an initiative to make London a centre for offshore renminbi business, the Bank of England has started much-anticipated discussions over a renminbi swap line
NDF traders face up to Sef reality
Non-deliverable forwards are likely to be mandated to be traded on swap execution facilities before any other FX products, but are traders ready?
Trading places, February 25, 2013
New hires at Institutional Liquidity, Legal & General IM and Rule Financial, while GFI Group appoints new chief executive
FastMatch volumes up as BNY Mellon takes stake
The custodial flow from BNY Mellon will help to attract more participants to the growing platform, according to FastMatch chief executive Dmitri Galinov
The advantages of algo execution
As both Barclays and UBS prepare to launch new algo execution tools for foreign exchange in the coming weeks, the space is becoming increasingly crowded – but it appears to be driven by strong demand from the buy side. Miriam Siers reports
CFTC's 60-second rule will force rejections, FCMs warn
Given a minute to accept or reject trades for clearing, FCMs warn they will err on the side of caution
Sucden Financial signs up Currenex to meet demand from proprietary traders
Institutional broker lures clients away from banks with better leverage and margin terms
Hotspot falls under new oversight in Knight/Getco reshuffle
New management structure gives Albert Maasland and Joseph Mazzella oversight of Hotspot FX, which continues to be run by the same team
MIG Capital targets retail FX traders in eastern and southern Europe, says CEO Cirulli
Margin foreign exchange broker leverages demand for alternative trading assets and algorithmic trading
FX Solutions exits US retail foreign exchange market; sells clients to Gain Capital
City Index-owned US broker to focus on retail trading in Europe, Middle East and Africa
CLS hires ex-New York Fed veteran to head regulation
Management changes at CLS continue with the appointment of Dino Kos, former head of FX at the New York Fed, as head of global regulatory affairs
Paul Allmark departs Thomson Reuters
The FX management reshuffle at Thomson Reuters continues as the head of marketplaces for Europe exits
Lloyds veteran spot trader departs
After 23 years at Bank of Scotland, HBOS and Lloyds, spot veteran Stuart Moss has left the bank
RBS's Ahmad joins JPMorgan Asset Management in emerging markets debt and currencies
Appointment signals demand for investments in emerging markets debt and currencies
EBS and Thomson Reuters merge input prices for FX fixing
The rival platforms have merged the sources for the 30-minute fixing in an effort to raise transparency and accuracy of reference data
Basel Committee and Iosco reopen FX exemption debate
A second consultative document from the Working Group on Margining Requirements gives the industry until March 15 to make its case again for an exemption from mandatory margin
Trading places, February 18, 2013
Recent departures at Aspen Trading, Morgan Stanley, Barclays and UniCredit
Managing the costs of liquidity fragmentation
The increase in electronic trading venues in the FX market has created the potential for further fragmentation of liquidity. Banks say the challenge creates an opportunity for technology vendors, but what solutions are on offer? Robert Mackenzie Smith…
Natixis expands FX sales in London
Peter Larsson has joined the French bank in London, having left his former role at Nomura last year
Cyprus cracks whip on margin foreign exchange brokers
EToro settles charges of weaknesses in its organisational structure