News
SunGard Data deal goes through
PENNSYLVANIA – SunGard Data Systems is to be acquired by a private equity group for around $11.3 billion.
BoA loses Singapore strategy team
SINGAPORE – Bank of America (BoA) has lost its currency strategy team in Singapore. Simon Flint senior currency strategist, left Bank of America Singapore last week the bank confirmed.
China names new FX chief
BEIJING – Chinese authorities have appointed Hu Xiaolian to head the country’s foreign exchange regulatory body, the State Administration of Foreign Exchange (Safe), according to local press last week.
NAB unveils latest changes
SYDNEY – National Australia Bank (NAB) has hired Peter Coad as general manager of its markets division. Based in Sydney, Coad will be responsible for leading the markets strategy at a global level. He will also be working with team heads that fall under…
Commission-free CME FX futures trading from CMC
NEW YORK – CMC Group, online foreign exchange service provider, has launched trading in Chicago Mercantile Exchange’s (CME) currency futures, commission free.
ACM set to target banks
GENEVA – Advanced Currency Markets (ACM) is to target the institutional market with a new version of its FX trading platform.
Barclays Capital continues Asian FX build-up initiative
SINGAPORE – Barclays Capital (BarCap) has hired a number of staff from Deutsche Bank and Mizuho Bank in the Asia-Pacific, as it continues to build up its presence in the region.
SunGard in talks for possible sale
NEW YORK – SunGard Data Systems is in discussions with a consortium of private equity firms for a possible sell-off.
Final chapter in NAB scandal begins
MELBOURNE – The former head of National Australia Bank’s foreign currency options desk is facing up to five years imprisonment for his part in the A$360 million rogue trading scandal that shook the bank last year.
EM currency volatility to continue
CENTRAL EUROPE – Volatility in emerging market FX has surged as market participants gauge the impact of improving US fundamentals, which resulted in a 25 basis point rate hike last week, according to analysts.
Bloomberg adds FX service to Toms
NEW YORK – Bloomberg is adding FX position keeping to its Trade Order Management System (Toms).
White-label deal for Saxo/Efutures
WISCONSIN – Efutures.com, an operating division of First Capitol, has launched EZ-FX, a white-labelled version of Saxo Bank’s SaxoTrader, which offers real-time trading execution, information and risk management.
Green light for Lloyds night desk
LONDON – Lloyds TSB Financial Markets Division (FMD) launches its London-based 24-hour forex trading desk on March 29.
Michael N considers currencies model
MALTA – Malta-based systemic trader, Michael N Trading is considering applying a software trading model used in its T-Bond/Bund program to currencies for future fund launches.
RBS FiX adds EM currencies
LONDON – The Royal Bank of Scotland (RBS) has added benchmark prices for Estonian kroon, Lithuanian litas and Latvian lats to its e-FX service, RBS FiX.
DrKW continues hiring spree
LONDON – German bank Dresdner Kleinwort Wasserstein (DrKW) has made three senior appointments for its FX business in London.
JP Morgan adds to FX and commodities
LONDON – JP Morgan has made four hires in FX in London.
CME goes live on Reuters
CHICAGO and LONDON – The Chicago Mercantile Exchange (CME) has rolled out CME FX on the Reuters Dealing 3000 platform.
FX advisory tops pay bracket
NEW YORK – FX advisory roles in the US have seen significant salary increases due to the changing nature of the job, according to a recent survey.