News
Portware to launch automated FX hedging tools
Trading software vendor launches new FX capabilities as it expands into increasingly electronic marketplace
BNP Paribas hires e-FX sales head for Asia-Pacific
Ex-Citi product manager Ashvin Parkash is the third senior hire made by BNP Paribas in recent weeks
FX options trader exits BAML
Ceemea trader Andrew Bailey departs the bank in London
Eurex delays launch of FX derivatives
Eurex has joined CME Europe in delaying the launch of FX derivatives, with no new dates set for launch by either exchange
FX salesman heads back to Barclays
Barry John Madden has moved back to Barclays after a short stint at National Australia Bank; other moves at Markit, SEB and the Bank of England
New chief executive brings multi-asset focus to ECU
ECU Group offers clients access to its high-powered investment committee as it moves into the global macro advisory space
Swiss regulator investigates FX rate manipulation
Switzerland's Finma this morning announced it is investigating manipulation of exchange rates, while UBS is reported to have dismissed its spot-trading heads
US Bancorp looks to build out FX options and technology
Jay Green, head of FX trading at US Bancorp in Chicago, has a mandate to expand into options after joining the bank from Morgan Stanley last year
Lack of Esma clarity delays progress on FX trade reporting
Questions raised by Isda concerning trade reporting workflows have not yet been answered, delaying preparations for the start of mandatory trade reporting early next year
US government shutdown impacts on dollar expectations
The timetable for tapering of quantitative easing and the performance of the US dollar could both be impacted if the shutdown continues, say strategists
CFTC shutdown leaves Sefs lacking clarity
Sefs and their clients question scope of no-action letters, but US government shutdown means no-one is able to provide guidance
FX Concepts teeters as clients exit and AUM plummets
Assets under management at FX Concepts have continued to fall and the fund's chief strategist confirms the board's ideas haven't worked so far
BNP Paribas hires UBS sales veteran
Sally Francis has joined UBS as head of FX investor sales for Emea, based in London
Saxo appoints Pedro Borges to head Saxo Bank Brazil
Saxo Bank has opened its third office in South America as it looks to expand its presence in the Latin American market
EBS and Thomson Reuters urged to rethink credit methodology
FX prime brokers say measurement of open positions on a gross rather than net basis exposes them to additional risk and reduces the effectiveness of controls such as the kill switch
Confusion reigns at dawn of Sef era, say participants
There is still uncertainty over the exact scope of no-action relief issued by the CFTC, and traders warn the same challenges will remain when the relief expires on October 30
Citi to donate a dollar per million of platform volume to charity
E for Education initiative will see a proportion of revenue from Velocity in the fourth quarter handed over to six charities globally
CFTC relief welcomed but concerns remain as Sef rules begin
A string of no-action relief letters issued ahead of today's deadline have been welcomed, but some participants believe they still don't go far enough
Asia Fic trading head exits Commerzbank
Paul Durrant, head of fixed-income trading for Asia, has left the German bank in Singapore
Meet the Sefs
The weeks leading up to the October 2 deadline for registration as a swap execution facility (Sef) under the US Dodd-Frank Act have seen a wave of new platforms receive approval from the Commodity Futures Trading Commission (CFTC). Robert Mackenzie Smith…
Sefs struggle with CFTC reporting rules
A lack of clarity over reporting obligations has left would-be Sefs struggling to adapt processes and workflows
Options platforms will miss Sef application deadline
Digital Vega and SurfacExchange do not expect to meet the CFTC's October 2 deadline to register as Sefs
HSBC loses in FX sales
David Brickell departs HSBC, while Oanda appoints a new CTO and FX vendor Advanced Markets builds in institutional FX
Mizuho fixed-income head departs to launch hedge fund
Jeffrey Yap leaves Mizuho Securities in Hong Kong, where he covered credit, rates and local currency markets