News
Asian currencies bounce back after price hit
HONG KONG – Asian currencies have bounced back after taking a hit from the high price of raw materials, particularly oil, in recent weeks.
HSBC launches charting package on FXall
LONDON – HSBC has launched a free online FX charting package on multi-bank portal FXall's website, covering 15 major cross rates. The service, fxcharting@hsbc, is white-labelled from UK-based charting provider TraderMade.
SG to name global FX head
LONDON – Dominick Errichetti is set to take on global responsibility for foreign exchange at SG Corporate and Investment Banking (SG CIB) in New York, according to sources close to the bank.
Sun Platinum pays $40 million penalty
WASHINGTON – FX trading firm Sun Platinum was last week ordered to pay $40 million in civil penalties and restitution to customers, after a US district court entered a default judgment against the firm.
Loewy joins bank exodus
LONDON – HSBC's former head of foreign exchange, Rob Loewy, has joined news and analysis firm Market News International (MNI) as a business consultant.
Citi hires corporate dealer from Barclays
LONDON – Citigroup has hired Andrew Burley for its corporate foreign exchange sales desk in London. He will report to Alex Jackson, head of corporate forex sales in London, when he joins after completing his gardening leave from Barclays Capital in the…
ANZ in forex capabilities reorg
MELBOURNE – ANZ is to merge its capital markets and forex desks in a bid to improve efficiency, grow its business and manage risk efficiently.
GFI launches voice-broker service
LONDON – Inter-dealer broker GFI has responded to market demand for voice-broker execution with the launch of FX Trading View.
Buy side to see Matching prices
LONDON – Fund managers, corporates, and mid-tier banks will soon get access to Reuters' interbank FX rates for the first time, the UK vendor will announce today (September 13).
Former Soviet satellites' FX interest increasing
ASTANA, KAZAKHSTAN – The FX market for the states surrounding Russia has picked up in recent years due to liberalisation of capital and increasing international trade.
Sales staff in global demand
HONG KONG – Demand for sales staff in Asia is on the increase, with many of the major banks having hired or looking to increase their capabilities in the region.
4Cast buys SocGen's directory and website
LONDON – 4Cast has bought the Dealers Directory from Société Générale, the French bank said.
Saxo to offer online FX to RCG
COPENHAGEN – Saxo Bank has linked up with futures clearing firm Rosenthal Collins Group (RCG) to offer its forex capabilities to the Chicago-based firm's online customers.
FXall adds five price-makers
NEW YORK – Five banks have signed up to provide prices to multi-bank platform FXall, the firm said last week.
Calyon to outsource liquidity
PARIS – Calyon is in discussions with other un-named banks to outsource currency trading to them.
ABN Amro wins China derivatives licence
SHANGHAI – ABN Amro last week joined the elite group of foreign banks authorised to trade FX derivatives in China after winning a licence from regulator the China Banking Regulatory Commission (CBRC).
BGC to hire 25 in spot forex
LONDON – Spot brokers are the initial target of Cantor Fitzgerald's upcoming recruitment spree for FX, as it prepares to spin off new voice broker BGC Partners, said an official at the firm last week.
NAB to re-open options desk
MELBOURNE – National Australia Bank hopes to re-open its currency options desk in the "near-term", said chairman Graham Kraehe last week. However, the bank refused to be drawn on a date, saying it was up to regulator the Australian Prudential Regulation…
South Africa comes under global focus
JOHANNESBURG – South Africa is currently a focus of activity in the FX world, as global institutions such as the Continuous-Linked Settlement Group (CLS) and spot broker EBS add the region to their sphere of activity.
Chinese banks turn to Reuters for help with derivatives regulations
SHANGHAI – Guangdong Development Bank (GDB), First Sino Bank (FSB) and the Bank of Shanghai (BOS) are installing systems from Reuters to comply with derivatives regulations introduced by the China Banking Regulatory Commission (CBRC) in March.