News
JP Morgan's Hudson promoted to divisional CFO
David Hudson promoted to chief financial officer in the global markets business at JP Morgan; other changes at CME, Barclays and Alpari
Traiana opens Singapore office
New office comes in addition to sales offices in Tokyo and Hong Kong as the vendor looks to ramp up its presence in Asia
FXSpotStream adds precious metals
Spot aggregation service adds precious metals, with prices streamed from liquidity providers through the same single connection
Industry calls for changes to benchmark practices
Ongoing investigations into manipulation of FX benchmarks have led to calls for changes to the way the WM/Reuters exchange rates are used
EBS Direct launch could reverse volume decline, say participants
The full launch of EBS Direct opens up a new market segment that could be an opportunity to claw back market share lost in recent years
EBS Direct hires Hugh Whelan from Commerzbank
EBS appoints Whelan to oversee liquidity management for the company's new relationship-based platform
StanChart creates global RMB trading team
New team headed by Charles Feng seeks to tackle time zone challenges by having renminbi traders located across geographies
ADS Securities rolls out multi-asset platform
New platform Orex Optim has now fully launched after two years of development and six months of testing at the Abu Dhabi-based firm
Nomura hires former RBS FX sales director
Jonathan Harding resurfaces at Nomura after leaving RBS alongside Graham Wintersgill in July
Swiss franc floor will remain in place, says UBS FX chief
George Athanasopoulos shares currency predictions for 2014, including an expectation the Swiss National Bank will maintain the 1.20 floor on EUR/CHF
FXall product management head joins Barracuda FX
Mary Moreleigh joins order management technology vendor in London after three years at FXall
Sefs face major delays in operating outside the US
Despite an overseas person exemption that allows recognition of CFTC-approved swap execution facilities in the UK, Sefs could face significant delays before they can legally operate in other non-US jurisdictions
Esma repository approvals fire starting gun for EU trade reporting
Mandatory trade reporting for all asset classes will begin on February 12, but the FX industry is still grappling with the challenges of dual reporting
SEB hires spot trader in Asia
Commerzbank spot trader joins SEB in Singapore; other moves from RBS, BAML and Barclays
SG CIB’s Escoffier takes the reins at Newedge
David Escoffier has been appointed chief executive of Newedge as Société Générale negotiates with Crédit Agricole to take full control of the firm
Dialogue needed on Sef confirmations - GFXD
Following a further CFTC extension for Sef confirmation requirements until November 29, the global FX division stresses the need for dialogue and co-operation with regulators over the next month if the deadline is to be met
ForexClear launches client clearing for NDFs
LCH.Clearnet has launched buy-side clearing of NDFs on its ForexClear platform, a year after it gained approval from the UK Financial Services Authority
BNP Paribas loses e-FX strategy chief
Martin Zinkin departs the French bank after little more than a year
US pension fund sues seven dealers over FX benchmark rigging
Massachusetts-based pension fund Haverhill Retirement System is suing seven FX dealers for manipulation of the WM/Reuters benchmark rates
ECB speculation provides welcome diversion for investors
Currency investors are growing weary of QE tapering speculation and taking more of an interest in events in Europe, prompting big moves in the euro
High-profile CIO exits FXall after 18 months
Steve Rubinow, who joined FXall as chief information officer shortly before it was acquired by Thomson Reuters last year, has left the company
EBS volumes fall to another record low in October
Continued low volatility in the FX market has pushed EBS volumes lower in October, as participants struggle to see an end to depressed market activity
Swedish corporates feel the pinch of the krona’s strength
The Swedish krona has remained strong over the past year, creating challenges for Sweden's exporters that have found their profit targets dented by the FX headwind
TriOptima unveils UTI pairing service for Emir reporting
Icap-owned technology provider seeks to tackle the dual reporting challenge for paper-confirmed trades and FX trades without a common ID