News
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
SGX closes in on FX futures launch
Singapore Exchange plans to launch FX futures in six currency pairs on November 11 as it looks to gain an edge on rival exchanges that have been delayed in launching the product
Lloyds hires Arrowsmith in corporate sales
Ian Arrowsmith joins Lloyds from Santander; other hires at BT Global Services, Royal Bank of Scotland and JP Morgan
ACT hires UBS's Meyer to run structured products venture
ACT Currency Partner continues its expansion with the launch of an FX structured products offering, managed by a veteran of UBS
Systematic strategies will bounce back, say managers
Despite the recent bankruptcy of FX Concepts, some currency managers believe systematic investment strategies could soon make a comeback
BNP Paribas embarks on three-year hiring spree in Asia
The French bank has plans to hire 1,300 staff in the Asia-Pacific region by 2016, with the aim of bolstering revenue by at least €1 billion
Economies of scale create two tiers in FXPB
The high cost of operating in prime brokerage is the biggest challenge for less-established players looking to gain market share