News
Calyon chooses Reuters for FX
LONDON -- Calyon has launched its revamped FX online trading platform, Aquarius, using Reuters technology.
Trio departs Lehman Brothers
NEW YORK & LONDON -- Lehman Brothers is the latest bank to see high-profile departures from its desk, with the exit of three senior members of staff.
Lebanese central bank to keep currency stable
BEIRUT -- The Central Bank of Lebanon has vowed to keep the Lebanese pound stable, after last week’s assassination of former prime minister Rafiq Hariri.
Reuters & Bloomberg target buy side
NEW YORK -- Bloomberg and Reuters are going head to head in a bid to target the burgeoning buy-side market, with forex transactional capabilities being launched by both global information providers.
Banks focus on mid-caps
LONDON -- Commercial banks are focusing more on mid-cap corporates this year as an alternative to the ‘over-banked’ blue chip firms, say market participants.
Aussies loosen FX regulations
SYDNEY -- Australian authorities have amended regulations to make it easier for foreign exchange businesses to operate in the country. The Australian Securities and Investments Commission (Asic) has extended the scope of those exempt from holding an…
Multibank platforms ‘to consolidate’
LONDON -- The multibank platform space is set for further rationalisation following the demise of Centradia, according to market participants.
ACM adds currencies and precious metals
GENEVA -- Advanced Currency Markets (ACM), the online FX trading firm owned by Refco group, is adding several new currency pairs and precious metals to its online dealing platform.
Regional FX investments take off
LONDON -- Sales of investments linked to baskets of regional currencies have taken off as investors search for yields from broad macro themes in Asia and central Europe.
Further cuts at German banks
NEW YORK & DÜSSELDORF -- WestLB has closed its FX trading desk in New York and is beefing up its Düsseldorf team, the latest in a series of restructurings by German banks.
BNP hires Italy FX sales head
LONDON -- BNP Paribas has hired Guido Williams in a new position as head of fixed-income derivatives and foreign exchange sales to Italian corporates and head of FX sales to Italian banks.
RBC loses rates strategist
LONDON -- Jeremy Stretch has left his role as rates strategist at RBC in London to join Rabobank as a currency strategist. He replaces Lee Ferridge, who has taken up a role as prop trader for the bank in London.
SSGM adds to Global Link team
BOSTON -- State Street Global Markets (SSGM), the investment research and trading arm of State Street, has made two new appointments in Boston.
Commerzbank out of NY
NEW YORK & FRANKFURT -- Commerzbank has closed the remainder of its FX trading desk in New York, as part of its streamlining of the trading business back to Frankfurt.
Market players look to future euro members
BUDAPEST & WARSAW -- International investment banks have piled into central Europe ahead of planned euro adoption.
Orion implements Penson FX
MONTREAL -- A Canadian financial services firm has launched an online, hosted forex trading system, Penson FX, which is aimed at investment managers and brokers.
Dresdner starts rebuilding
LONDON & FRANKFURT -- Dresdner Kleinwort Wasserstein (DrKW) has hired some new faces, as it begins to rebuild its FX team following a series of departures over recent months.
Plug pulled at Centradia
LONDON -- European multibank portal Centradia has closed for business.
CME adds European execution
CHICAGO -- The Chicago Mercantile Exchange (CME) will introduce euro FX and yen options contracts with European-style expiration on its electronic platform Globex in April.
BNP loses emerging markets head
LONDON -- Angus Galletley, head of emerging markets at BNP Paribas in London, has left the bank. Galletley was head of EM local markets and options for central/eastern Europe at the French bank.
CFTC cracks down on forex brokers
FLORIDA -- Rogue FX operators faced heavy penalties last week following action from the Commodity Futures Trading Commission (CFTC), with two firms -- World-Wide Currency Services and Intertrade Forex -- handed large fines.