News
UBS hit by base metal departures in London, NY
LONDON & NEW YORK – UBS is said to have suffered a blow to its base metals business with departures in London and New York.
Icap launches Aussie/Kiwi pair
LONDON – Interdealer broker Icap is going live with the Australian dollar (AUD) and Kiwi dollar (NZD) as a tradable pair today (April 30).
Banks still dominate market, report finds
BOSTON – Electronic trading may be expanding, but increased automation is failing to push major dealing banks from a dominant position in the FX market, according to a report released last week.
BarCap adds to Barx platform
LONDON – Barclays Capital has extended its suite of FX algorithmic trading services to include PowerFill Orders over its Barx platform.
Reuters to open up desktops, hailing radical new strategy
LONDON – Reuters is opening up the Dealing 3000 and 3000 Xtra desktops to rival platforms, in what signals a seismic shift in strategy for the electronic broker.
Reuters to open up desktops, hailing radical new strategy
LONDON – Reuters is opening up the Dealing 3000 and 3000 Xtra desktops to rival platforms, in what signals a seismic shift in strategy for the electronic broker.
ACM re-acquires ex-Refco shareholding
GENEVA – Geneva-based online currency trading platform ACM Markets has re-acquired the outstanding 768 of 3,000 shareholding, from the creditors of defunct futures broker Refco.
Commerzbank continues EM expansion
FRANKFURT – Commerzbank has re-hired Frank Berger as head of emerging markets FX forwards in Frankfurt, as it continues to expand its EM capabilities.
Clariden centralises forex pricing data
LONDON – Swiss private bank Clariden Leu has rolled out an FX pricing solution to centralise pricing and distribution of FX rates throughout the organisation.
Merrill reorg triggers forex hires
LONDON & NEW YORK – Merrill Lynch has made four hires in its FX options team, amid a reorganisation of its FX and local currency trading businesses.
Former FX salesperson sues BNP Paribas for discrimination
LONDON – A former FX salesperson at BNP Paribas, Katharina Tofeji, is suing the bank for £1.35 million ($2.7 million) on the grounds of sex discrimination, victimisation and constructive dismissal.
Continental shift for Reuters sales force
SINGAPORE, LONDON & NEW YORK – Electronic broker Reuters has realigned its sales force across three continents, to adapt to the evolving market-place.
Forex shuffle at London Citi
LONDON – Citi is undergoing changes at its FX team in London, with three departures and two hires.
Lehman Brothers expands e-FX capabilities
LONDON – Lehman Brothers is expanding its e-commerce capabilities, as part of the continued expansion of the bank's forex business.
Four ISE forex contracts go live
NEW YORK – Four FX options contracts began trading on the New York-based International Securities Exchange (ISE) last Tuesday (April 17).
Citi and Merrill post bullish results
NEW YORK – Citi and Merrill Lynch have posted record results for their fixed-income businesses, with FX playing a strong role. Merrill said record currency revenues helped revenues from the fixed-income, currencies and commodities division grow from…
Sterling breaches $2 barrier for first time in 15 years
LONDON – Only five banks predicted correctly that sterling would breach $2.00 in mid-April and be capped below $2.02, according to FX Week 's currency forecasts.
Cantor Fitzgerald rejects rival bid for eSpeed
LONDON – A takeover bid for electronic trading network eSpeed was rejected by majority owner Cantor Fitzgerald last week.
Saxo Bank hails record month
COPENHAGEN – Danish-based investment bank Saxo Bank saw a 12% rise in new-client acquisition in March over the previous month.
Merrill reorg triggers forex hires
LONDON & NEW YORK – Merrill Lynch has made four hires in its FX options team, amid a reorganisation of its FX and local currency trading businesses.
Marex hooks up with Accelor
LONDON – Independent brokerage Marex Financial has established connectivity to Accelor, FXall's new electronic communications network, enabling clients to trade over the platform.
Icap challenges Reuters with i-Forwards platform
GLOBAL – Interdealer broker Icap is taking on rival electronic forward FX broker Reuters, with the global rollout of i-Forwards, its electronic trading platform.
Directional Trading opens to investors
LONDON – Proprietary trading company Directional Trading has opened three currency management programmes to investors, in the form of managed accounts.