News
Prebon Yamane snares rival's forwards brokers
LONDON -- Interdealer broker Prebon Marshall Yamane in London has hired a team of three currency forwards brokers from rival RP Martins.
FXall ups customer list to 350
NEW YORK -- Multi-bank FX trading portal FXall last week announced it has signed up more than 350 customers, following the addition of a monthly record of 44 new clients in September.
HSBC makes senior appointments
LONDON -- UK-based bank HSBC has made four senior appointments to its Corporate, Investment Banking and Markets (CIBM) division, the firm announced last week.
China FX emergence continues
BEIJING -- The liberalisation and development of China’s FX market is continuing, presenting banks with a potentially lucrative new market.
European currencies win out as Japan and US woes bite
LONDON -- European currencies were the winners last week as fears over economic and political issues intensified pressure on the dollar and the yen.
HSBC enhances electronic MM trading and delivery
LONDON -- HSBC is planning to add new features to its electronic money markets service in November, an official at the bank told FX Week .
European currencies win out as Japan and US woes bite
LONDON -- European currencies were the winners last week as fears over economic and political issues intensified pressure on the dollar and the yen.
Trading Places
BarCap futures hire in Singapore
Deutsche Postbank to add seven FX traders
FRANKFURT -- German savings bank Deutsche Postbank is to add seven more FX traders to its new trading floor in Frankfurt, a spokesperson told FX Week .
Syntegra names systems staff
LONDON -- UK trading technology firm Syntegra last week named new members of its global trading systems management team.
Currency managers down in August
STAMFORD, CT -- Few currency fund managers saw positive returns in August, according to the Parker Global Strategies’ FX index, released last week.
Institutional clients boost Gain volumes
WARREN, NJ -- Increasing numbers of institutional investors using online FX trading firm Gain Capital’s platform helped boost volumes to a record $25 billion in August, said Gain’s New Jersey-based chief executive, Mark Galant.
Tradition forges into retail
NEW YORK -- Inter-dealer broker Tradition is moving into the retail market with the launch of a new online FX trading platform targeting individual investors, the firm announced last week.
CLS reaches $1 trillion volume
The CLS Group last week announced that it has settled payments instructions of more than $1 trillion in value since its September 9 launch.
AIB continues Rusnak counterparties enquiry
DUBLIN -- Allied Irish Banks (AIB) played down reports in the UK press last week that it is preparing a legal case against Citigroup over FX rogue trader John Rusnak.
Tullett Financial Information launches SwapsMarker Europe on Bloomberg
LONDON -- Tullett Financial Information, a subsidiary of brokerage firm Tullet & Tokyo Liberty that provides data on derivatives products, has launched its SwapMarkerEurope interest rate swaps service on Bloomberg.
Options business booming
Growing client sophistication prompts banks to expand in derivatives
Tech Briefs
WSS hits 1 million FX trades a day
ABN Amro scores CLS coup
AMSTERDAM -- ABN Amro Bank announced three clients for its third-party Continuous Linked Settlement (CLS) service last week, scoring a coup in the highly competitive market.
Aussie seeks momentum
The Aussie remained trapped within September’s tight trading range during the first week of October, says Adam Myers, quantitative FX strategist at Westpac Bank in London.