News
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.
Bear Stearns beefs up forex team
LONDON – Bear Stearns has made two new FX hires in London and plans for a further two in the near future.
Volumes up on trading platforms
LONDON – Trading platforms have seen a strong start to the year, with substantial increases in volumes.
Record start for US investment banks
NEW YORK – This year looks set to be another bumper year for FX, with a second consecutive year of record-breaking first- quarter results from the US investment banks.
Citi to shut down Nordic offices
LONDON – Citigroup FX sales operations in the Nordic region are set to close as the bank shuts down branches in Copenhagen, Helsinki, Stockholm and Oslo.
CoesFX launches Asian branch
PLAINVIEW – Electronic FX trading network, CoesFX is expanding into the Chinese market with the launch of CoesFX Asia.