News
Currency focus: Danish krone
The Danish krone's peg to the euro has been key to the success of the economy over the past 30 years, but how would a eurozone collapse affect the currency? Robert Mackenzie Smith reports
Dealers hope for replication of BoE move to two-way CSAs
As the Bank of England prepares to begin posting collateral to its counterparties when trading derivatives next year, FX traders hope other central banks will follow its lead
HSBC launches algo carry index
The Global FX Carry Index, launched by HSBC yesterday, considers 32 currencies for investment, including G-10 and emerging markets
360T hires Asia sales head from Commerz
Commerzbank's head of e-FX sales for Asia joined 360T in Singapore earlier this month
Currency managers suffering badly in 2012, research finds
Low volatility and the eurozone crisis have combined to push currency management returns further into the red in 2012, according to JW Partners
Credit Suisse's Asia sales head departs
Ivan Chan, head of FX sales for Asia-Pacific in Singapore, is the latest in a string of senior forex departures from the Swiss bank
BAML appoints Deutsche veteran to head Asia global markets
Loh Boon Chye, formerly head of corporate and investment banking for Deutsche Bank Asia-Pacific, is to join Bank of America Merrill Lynch
FXall’s Woolcock to join Eurobase
David Woolcock, who resigned from FXall this week after almost nine years, will join technology vendor Eurobase next month
Concerns raised over Basel settlement risk guidance as consultation closes
The revised guidance on managing settlement risk could distort the FX market if implemented inconsistently, but should ultimately lead to greater use of CLS, say market participants
Ex-SocGen head trader joins Infinium
Richard Bailey, SG CIB's former head of global FX trading has joined Infinium Capital Management as head of FX options trading
JP Morgan promotes Mirza in management reshuffle
Kayhan Mirza and Kemal Askar handed new roles as part of an internal reshuffle
EBS appoints liquidity management head
Gil Mandelzis continues the restructuring of EBS's management team with the appointment of Ben Tobin as director of liquidity management
FTSE Cürex index series adds CNH pairs
The jointly launched foreign exchange index series announced in June has added seven new offshore renminbi pairs to its benchmark as it anticipates growing demand from its clients in Asia
Central bank intervention weighs on investor sentiment
FX strategists expect continued uncertainty for major currencies in the fourth quarter as a result of central bank intervention
Banks struggle to build FX as liquidity slows
Falling levels of FX activity, particularly among institutional clients, have made it difficult for banks – particularly the newer entrants – to beef up their forex businesses,
GFI extends ForexMatch into Asian and African currencies
The interdealer broker is expanding the footprint of its forex derivatives platform by adding Asian and African currency pairs
Trading places, October 8, 2012
Departures at Barclays, BNP Paribas and JP Morgan, while Standard Chartered hires an ex-UBS salesman
Platform volumes rise modestly in September
FX spot volumes were up on EBS, Reuters and FXall in September compared to August, though volumes were still significantly down year-on-year on both EBS and Thomson Reuters
More FX platforms to come, says Celent
A new research report from Celent predicts more platforms will launch in the FX market, and that the single-dealer platform will continue to gain in popularity
FXCM rolls out dealing desk to fight price war
The retail brokerage has launched a principal-based execution option to create tighter spreads for smaller clients, but will continue to advocate its preference for the agency model
Ivan Ritossa to leave Barclays
Barclays' global head of FX of more than 10 years will leave the bank at the end of this year as part of a major reorganisation unveiled today
JP Morgan’s Rohrbaugh appointed chair of global FX division
Troy Rohrbaugh, JP Morgan's head of FX and rates, succeeds Zar Amrolia as chair of the industry's global FX division
FX sales co-head leaves HSBC
Robbert Sijbrandij has left HSBC to spend time with his family in Switzerland, having joined the bank in August 2010
Technology key for Saxo at 20
Saxo Bank celebrated its 20th birthday last month by flying its staff out to Egypt for a celebration in front of the Pyramids, hosted by co-founders Kim Fournais and Lars Seier Christensen. Robert Mackenzie Smith meets them in Copenhagen