News
European Parliament and Council on collision course over FX exemption
The top European Union institutions in Brussels have found themselves at odds over the crucial question of whether foreign exchange contracts should be subject to new rules for mandatory clearing and reporting of over-the-counter derivatives in the…
European Parliament has neglected FX exemption question, says UK MEP
Kay Swinburne criticises colleagues in the European Parliament for failing to tackle the question of whether forex contracts need to be subjected to new clearing and reporting requirements
Proof of exposure required before Indian companies can trade FX derivatives
New regulations in India will require companies to prove they have an exposure that needs to be hedged.
FX options clearing will be challenging, Afme panellists warn
Conference speakers discuss the investment needed to meet requirements for central clearing of FX options.
Deutsche Bank’s Q4 results show strong performance in FX
Deutsche Bank published its fourth-quarter results on February 3, revealing its sales and trading net revenues, which include FX, had increased to €1.6 billion from €1.2 billion in the fourth quarter of 2009.
Nomura hires Roger García Bertrand as Constantinou departs
Roger García Bertrand, former head of Iberian flow rates and FX sales at Société Générale (SG), moved to Japanese bank Nomura in January to head Iberian flow rates sales.
Changing role of the FX salesperson sparks debate at Afme conference
The sell-side foreign exchange salesperson has a changing role to play in the industry as a result of an increase in high-frequency trading and the advent of new regulations, according to panellists at the European Market Liquidity conference in London…
London retains premier spot in FX, according to global volume figures
London remained the biggest financial centre for foreign exchange in 2010 according to semi-annual volume figures published in the UK and US on January 31, despite speculation it might be overtaken as a result of the UK government’s clampdown on bonuses.
SuperDerivatives expands in Asia sales
Agnes Tan has joined derivatives pricing technology vendor SuperDerivatives as head of strategic sales for Asia, based in Singapore.
Trading Places, February 7, 2011
Read this week's Trading Places to catch up on people moves across the FX world.
BNP Paribas restructures FX business in New York
BNP Paribas is continuing to restructure its FX business in New York, according to a senior official at the bank.
Danske Bank hires Cioffi and plans global build
Danske Bank has hired Raffaele Cioffi to its spot trading desk in Copenhagen and plans to expands its global presence.
Icap to upgrade EBS block-trading platform
Interdealer broker Icap will upgrade Continuous Match, its newly launched FX block-trading platform, in the second quarter, the broker has told FX Week.
HMT's Hoban: Beware of sweeping forex into EU derivatives reform
Advocates of an exemption from mandatory central clearing requirements for foreign exchange swaps and forwards have won the support of the UK government, as a senior treasury official admits to the risks inherent in regulating FX in the same way as other…
London retains premier spot in FX, according to volume figures
London remained the biggest financial centre for FX in 2010 according to volume figures published globally on January 31, despite speculation it would be overtaken as a result of the UK government's clampdown on bonuses.
James Fauset leaves Goldman Sachs for Brevan Howard
James Fauset, head of hedge fund sales at Goldman Sachs in London, has left the investment bank for hedge fund Brevan Howard.
Commissioners voice mounting alarm over 'seriously strained' CFTC budget
Concerns over the ability of US federal regulators to enforce new financial reform legislation have intensified, with a senior regulator accusing the head of the Commodity Futures Trading Commission (CFTC) of playing "a game of budgetary chicken" with…
Standard Bank restructures London FX
Standard Bank is merging its London FX business with its local markets business, the South African bank has confirmed.
Further BarCap departures emerge
Further departures from Barclays Capital (BarCap) in London have emerged as the bank reorganises its foreign exchange business and trims its workforce.
Standard Chartered talks Turkey
Standard Chartered in Dubai has set up a forex desk focused on Turkey, it announced on January 24.
RBC to roll out decimalisation on FX Direct
RBC Capital Markets plans to launch decimalised pricing in the second half of the year on its single-dealer platform, FX Direct, bringing it into line with banks including Deutsche Bank, Royal Bank of Scotland, Citi and Barclays Capital.
SuperDerivatives moves to improve options pricing transparency
Client push for more transparency in pricing methodology drives vendor to add new models and publish secret source code.
Trading Places, January 31, 2011
Read this week's Trading Places to catch up on people moves across the FX world.