News
BNP loses sales head
NEW YORK – Drew Gross, head of North American FX sales at BNP Paribas in New York, has resigned from his role, FX Week has learned.
All change for CLS management
LONDON and NEW YORK – CLS has announced a shake-up of its senior management and the forthcoming departure of chief executive Joseph De Feo.
ACI Congress programme unveiled
STOCKHOLM – The line-up for the ACI World Congress, to be held on 26–28 May in the Swedish capital, has been finalised.
COESfx teams up with AbleSys
PLAINVIEW, NEW YORK – Electronic currency network COESfx has formed an alliance with technology vendor AbleSys Corporation (ASC), giving FX traders access to trading signals to help improve their decision-making.
Deutsche builds in FX
GLOBAL – Deutsche Bank has made a series of hires to build up FX globally.
French revolution in London
PARIS AND LONDON – French sales staff are in demand, as a number of banks look to penetrate a market made difficult by sophisticated, price-aware clients.
French referendum ups volatility
PARIS – The French referendum on the European Union (EU) constitution, set for May 29, has already affected euro trading, and continuing uncertainty will lead to further volatility.
Korean retail FX guidelines cause concern
SEOUL – Retail FX trading guidelines recently introduced in South Korea could pose a threat to the potentially lucrative white-labelling market in the country, according to market players.
CME updates free FX tool
CHICAGO – The Chicago Mercantile Exchange (CME) is adding extra data to its web-based CME Equivalents platform, in a bid to attract more mainstream users.
SEB creates hedge fund team
STOCKHOLM – SEB is to set up a new sales desk to focus on building its hedge fund clients, according to global head of FX Marcus Nysten.
Forex first for Korea First Bank
SEOUL – The purchase of Korea First Bank (KFB) by Standard Chartered is set to create the biggest FX desk in Korea, according to senior representatives at both banks.
CME-Reuters service picks up
CHICAGO & LONDON – The Chicago Mercantile Exchange (CME) and Reuters added four new clearing firms to its 'CME FX on Reuters' service last week.
DrKW rebuilds FX team
LONDON – Dresdner Kleinwort Wasserstein (DrKW) continues to rebuild in forex following a series of departures at the bank last December.
US banks' FX profits surge
NEW YORK – US banks have benefited from the recent recovery in the greenback, with profits up in the first quarter.
Diverging views over renminbi
BEIJING – Banks have divergent views on the likely size, extent and timing of a revaluation of the Chinese renminbi (CNY).
Alstom picks FXpress
PARIS – Alstom, the Parisian technology vendor, has gone live with risk management software provider FXpress's First treasury workstation.
India becomes latest CLS addition
MUMBAI – Indian FX settlement service the Clearing Corporation of India (CCIL) has gone live on CLS.
Senior changes at TD Securities
TORONTO & LONDON – TD Securities' foreign exchange team has undergone a major change at senior level, following the departure of Cliff Feehan, global head of wholesale forex at the Canadian bank in Toronto.
Activity set to soar in Romanian leu
BUCHAREST – Interest in trading the Romanian leu is picking up, as the country opens to foreign investment and gears up for entry into the European Union.
NAB revamping and re-opening foreign exchange options desk
MELBOURNE – National Australia Bank (NAB) will reopen its FX options desk on May 9, following its closure after last year's trading scandal ( FX Week , January 19, 2004).