News
United Overseas Bank eyes Asia clients for single-dealer platform
Singapore-based bank is ramping up its e-FX capabilities using FlexTrade technology as it seeks to poach clients from multibank platforms
FX market will be 70% electronic by year-end, says Aite Group
New research estimates 60% of FX is electronic today, rising to 70% by year-end but there will still be a place for voice trading
Saxo Bank appoints group treasury head
Peder Valentiner Boysen has been promoted to head of group treasury, while Troels Sebelin joins the treasury team as a senior manager
Commerzbank broadens e-FX package with DealHub
Commerzbank is the first publicly named bank to be using FX Distribution Hub, with FX Connect the first venue to go live on the service
StanChart appoints assistant FX chief dealer
StanChart appoints assistant FX chief dealer; BAML makes appointments in sales; Deutsche Bank makes senior Australia appointment
FX prime brokers continue to shun four-way agreements
Four-way agreements too difficult under Dodd-Frank external business conduct standards, say prime brokers
Client on-boarding a challenge for Sefs
Icap is the latest firm to apply for Sef status, but the challenge for new platforms will be to on-board clients by the October 2 compliance deadline
Pragma to roll out FX algos in Q4
Trading technology vendor is preparing to diversify into foreign exchange with an algo execution product that it believes will add value over bank offerings
Brokerage and clearing firm hires FX sales veteran
Matthew Ardizzone joins RJ O'Brien & Associates in FX sales
Currency managers caught out by dollar rise against EM currencies
Immediate future of emerging market currencies in the hands of the Federal Reserve amid QE tapering expectations
FX now a $5.3 trillion per day market, says BIS
The latest BIS triennial survey shows the UK has strengthened its grip on the FX market, while USD/JPY has seen a strong increase in trading activity
'Good v. bad' is overplayed in EM currencies, indicates BNPP quant model
BNP Paribas has recently extended its quantitative fair value model from G-10 to EM currencies - and it has found some assumptions about strong and weak currencies may be unfounded
Morgan Stanley hires ex-Nomura FX strategist
Geoff Kendrick relocates from London to Hong Kong to join Morgan Stanley as head of Asian FX and local rates strategy
FX swaps and forwards off initial margin hook
Working Group on Margining Requirements has confirmed the exemption of FX swaps and forwards from initial margin, as well as a more restricted exemption for cross-currency swaps
Barclays to add algo tools to Gator aggregator
Barclays will add new, less aggressive algos to Gator in the fourth quarter as it looks to make the product more accessible to real-money and corporate clients that prefer to trade with minimal market impact
Saxo Bank to publish monthly volume data
Danish firm aims to promote greater transparency by going public with its volume figures on a monthly basis
Marex Spectron pushes forward after FX overhaul
Recently recruited sales team are fired up and seeking to expand Marex's footprint in agency FX business following recent restructure
Shadow of Cyprus crisis remains cast on retail FX
Some retail brokers in Cyprus claim the recent crisis has driven concentration of clients among larger firms, but others argue there is little data to support this
Deutsche hires in FX sales
New hire from Morgan Stanley at Deutsche Bank in London; BGC makes senior addition in China; other moves at BAML and ParFX
EM stress prompts investors to turn to options
As the crisis in Syria continues, the Turkish lira this week became the latest victim of the emerging market sell-off, leading to an increased interest in options
Royal Bank of Scotland to exit CFD trading
RBS informed customers this week that its marketindex CFD business will close in November
UniCredit expands in FX investor sales
Francis Boisson continues his ambitious growth plan with three sales hires in London and one in Hong Kong
Three down at SG CIB in London
Diana Kiluta Amoa, Benoit Duhil de Benaze and Yassine Rhalib have all left their roles at Société Générale Corporate and Investment Banking
FX structurers see mixed demand for cross-asset hedges
Increased hedging costs in rates and credit has led some investors towards FX structured products, but some remain concerned that correlation may not hold up