News
FX clearing a priority for 2014, vows CLS chief
Working with banks and CCPs to facilitate central clearing of OTC FX options is 'high priority strategic initiative' for CLS this year, says chief executive David Puth
Offshore RMB market booming in London, report finds
A study by the City of London Corporation reveals the City's efforts to become a global hub for renminbi business are paying off, with daily spot value reaching $4.8 billion last year
Citi appoints institutional FX sales chief
Warsaw-based Misbah Shah is set to relocate to London to take over Okan Pekin's former role as global head of FX institutional sales in January
Extent of Sef-driven fragmentation revealed in Isda survey
Almost 80% of respondents indicate that Footnote 88, which required all platforms to register as Sefs by October 2, has resulted in fragmentation of liquidity in FX options and NDFs
Industry bets on clearer FX trends for 2014
As banks and investors cast their bets on the major currency movements to watch out for in 2014, FX Week presents the highlights of forecasts for the dollar, euro, yen and EM currencies
Citadel hires ex-BAML options chief
Guillaume Huteau has moved to the buy side as risk officer at Citadel after leaving Bank of America Merrill Lynch earlier this year
Inequality and deflation will be key trends in 2014, Saxo predicts
Danish bank publishes its 10 'outrageous' predictions for 2014, mooting the possibility that five fragile EM currencies could fall by as much as 25% against the dollar
Deutsche promotes Vos to senior Fic role
Adam Vos, formerly global head of FX forwards, has been promoted to co-chief operating officer of fixed income and currencies
EBS to consider latency floor extension within weeks
Analysis of the randomised pause applied to AUD/USD and USD/CHF is almost complete, allowing EBS to consider an extension to other currency pairs, says platform chief
Head of FX structuring exits Citi
Michele Ghidoni has left Citi after eight years, most recently as global head of FX structuring, while FX structurer Francesco Tonin has also left in New York
Integral to roll out second-by-second FX benchmark rates
New product is to be introduced in January amid the international regulatory probe into alleged manipulation of the FX benchmarks by traders at top-tier banks
Thomson Reuters ‘considering’ randomisation on Matching platform
The largest FX trading platform by volume could be the latest trading venue to apply randomised pauses, following EBS and ParFX
FX trading chief leaves Nomura in New York
Brent Donnelly has left Nomura in New York after two-and-a-half years, while Jose Aloisio Teles has also left the bank
Former EBS Prime head Faulkner takes R5FX role
David Faulkner has joined R5FX as head of open market, following recent hire of Stuart Crooks, Ed Nelson and Anne Pounds
Dealers losing exclusive role in FX, BIS report notes
A new analysis of the 'anatomy' of the FX market notes the increasing influence of non-dealer financial institutions, following this year's triennial survey
RBC Dexia loses global FX head
Morgan McDonnell departs after nine years at the Canadian firm
BNP Paribas hires senior FX trader from Commerz
Kevin Wilson joins the French bank in New York; other personnel changes at ACT Currency Partner and UBS Global Asset Management
Caplin launches hosted single-dealer platform service
Caplin Direct managed service is designed to provide an out-of-the-box platform for banks looking to distribute FX liquidity
SG CIB expands in FX sales
Darren Charnock and David Brickell join Société Générale Corporate and Investment Banking in senior FX sales roles
Buy side could miss Emir reporting deadline
Banks are racing to meet a February 12 deadline for trade reporting under European rules, but buy-side firms might not be ready to meet their obligations in time
SG CIB joins ParFX as latest bank member
The French bank has become the 12th founder member of ParFX, while Bank of America Merrill Lynch started trading last month without becoming a member
Hotspot FX co-founder joins GTS
Steven Reich lands his latest position at Global Trading Systems, having previously co-founded Hotspot FX, among a number of influential industry roles
Sefs battle with confirmations after CFTC relief expires
A second no-action relief period that exempted Sefs from issuing confirmations expired on November 29, leaving FX traders unsure whether Sefs can handle the requirement
Rising cost of credit drives corporates back to voice trading
Corporate treasurers have been facing up to the increased costs of hedging as their bank counterparties deal with regulation, but some say rising credit charges are driving them to revert from electronic platforms to voice trading. Joel Clark and Miriam…