News
FX Week USA: Niche services rather than volume set to dominate FX
Conference speakers discuss the changing nature of the foreign exchange market, and agree successful providers in future are likely to be those that can offer a range of niche services rather than those with the highest volumes
FX Week USA: Recovery has taken a nose dive, IMF warns
Monetary and capital markets deputy director Christopher Towe tells conference delegates that ongoing vulnerabilities could sow the seeds of the next crisis
Multibank options platforms proliferate
Alpari’s Daniel Skowronski admits sourcing liquidity has been a challenge since the firm’s options trading platform went live in March
Trading Places, July 18, 2011
Departures from RBS and BNP Paribas in London and New York as Credit Suisse hires in AES sales in London
DTCC, Swift reveal details of repository plans
Swift will provide its existing FX derivatives messaging traffic while DTCC will leverage its expertise in the provision of repository services, the two firms have told FX Week
Hungarian regulator suspends iForex licence
Hungarian FSA raises concerns over iForex's risk-reporting to clients and strips licence for six months
BarCap loses three in sales and trading
Asif Khattak, Richard de Meo and Matt Gardiner have all left Barclays Capital
Jawitz joins FXall to lead options
Eric Jawitz has joined FXall from Calypso to head the firm's options business
Brides joins Citi from Goldman Sachs
FX spot trader will report to Rohan Ramchandani
HSBC gains and loses in FX sales
Alex Scountjos joins from Barclays Capital and Yorke O'Leary from Goldman Sachs
Nick Donovan departs Goldman for Deutsche
FX salesman to join Deutsche Bank in Asia, but exact role not yet known
BNP Paribas confirms research appointments
Saywell and Attrill will head FX strategy in Europe and North America respectively, following departures earlier in the year
Grensted parts company with LCH.Clearnet
The clearer's head of business development - and one of SwapClear's architects - left the firm on July 8
Icap hires Mark Price as COO
Ex-Deutsche chief operating officer will join Icap on October 3, replacing Mark Yallop
EBS signs smartTrade for streaming liquidity
Icap will use LiquidityConnect platform to allow users to more efficiently stream prices into EBS
Forex options clearing complicated by guaranteed settlement requirements
CPSS-Iosco guaranteed settlement requirements make FX options clearing more difficult, say participants
DTCC/Swift win FX repository mandate
Both vendors will now move forward to develop the specifications of the FX repository, after winning an eight-month selection process, Afme announced today
FX Invest: Newedge hires in prime brokerage
Four join multi-asset brokerage to build prime-brokerage offering
FX Invest: Buy-side cautions on collateral
Buy-side want eligible collateral extended to equities
FX Invest: Volatility trading comes up trumps in June
RBS research shows short-volatility strategy would have been top performer in June
FX Invest: EIB signs Citi for collateral management
Citi gains key client for third-party collateral management service
FX Invest: US margin proposals could lock down $2 trillion in assets
Requirement for banks to post initial margin when trading with each other will result in huge amounts of liquid assets being locked down, according to analysis by one US prudential regulator
FX Invest: Macroeconomic uncertainty boosts demand for gold and oil exposure
Continued uncertainty about inflation and deepening concerns over sovereign default risks in Europe are making the commodities increasingly attractive as hedging tools
Further liquidity fragmentation in FX predicted
Market-damaging behaviour should be controlled, but separation or elimination of high-frequency trading would be damaging to the market’s equilibrium, ClientKnowledge argues in research published today