News

Shock departures at Icap

NEW YORK – Interdealer broker Icap has witnessed the resignation of three senior members of the former EBS team, shortly after the departure of former chief executive Jack Jeffery.

CME gets go-ahead from UK regulator

The Chicago Mercantile Exchange (CME) received approval from the UK Financial Services Authority to provide global clearing services in the UK.

GSAM jumps on Hotspot FX bandwagon

JERSEY CITY – Goldman Sachs Asset Management (GSAM) is understood to have signed on for electronic communication network (ECN) Hotspot FX, sources have told FX Week .

Deutsche and ABN expand their retail offerings

LONDON – Deutsche Bank plans to target Middle Eastern retail investors with an Arabic language version of margin trading platform dbFX, due for release in the third quarter.

Landsbanki selects SuperDerivatives

REYKJAVIK – Iceland's Landsbanki has gone live with SuperDerivatives' multi-asset class price discovery platform, signalling the move towards multi-asset class sales by banks.

BoA names head of forex Americas

NEW YORK – Bank of America (BoA) has promoted Herbert Perez to head of global FX for the Americas and global head of spot and emerging market currency trading, based in New York.

FXMS embarks on global push

LONDON, CHICAGO & NEW YORK – Eight new roles have been created at Reuters and CME joint venture FXMarketSpace (FXMS), to drive the platform's continued global expansion.

Cantor to merge BGC and eSpeed in defensive move

NEW YORK & LONDON – Cantor Fitz-gerald's decision to merge subsidiary BGC Partners with separately listed affiliate eSpeed in a $1.3 billion deal is being viewed as defensive by market participants.

SwapsWire rolls out to South Korea

SEOUL – SwapsWire has gone live in South Korea. Interdealer brokers Tullett Prebon and BGC Capital Markets are now using the service to provide OTC trade confirmation and straight-through-processing (STP) services to dealing clients in the country.

China's foreign assets reach $1.63 trillion

BEIJING – China's foreign financial assets increased 33% year-on-year to reach $1.63 trillion by the end of 2006, according to a statement released on May 25 by the regulator Safe (State Administration of Foreign Exchange).

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