News
Chicago Mercantile Exchange offers retail access to futures trading via MetaTrader 5
Margin foreign exchange trading company gains approval to connect to Chicago exchange
Euro bearishness reawakened post-Cyprus
Long euro positions have been unwound following the bailout of Cyprus and many participants now foresee further trouble ahead for the eurozone
Saxo Bank renews focus on e-FX technology after poor 2012 results
Saxo's profits nose-dived last year, due to poor market conditions and a loss of focus. But the retail provider believes the changes it has made have given the business renewed direction
Market divided over standardised approach to algo TCA
The difficulty of comparing transaction cost analysis results across algo products has led to calls for a standardised approach to TCA, but not all agree it is needed
Trading Places, April 1, 2013
Citi wins an FX options trader from Barclays in London, while ex-FXCM CCO James Sanders moves to First Derivatives in the same role and Legal & General grows operations in Europe
Oanda back to basics as tough rules hit retail market
Margin FX trading provider Oanda is shelving plans to expand into the institutional space and is moving its focus back to retail clients
UBS becomes eighth liquidity provider on FXSpotStream
Swiss bank scheduled to be live by late in the second quarter as the aggregation service continues to gain traction, with plans to expand into new products
StanChart hires Darwell from Morgan Stanley
Eric Darwell will join Standard Chartered in New York next month to head up Asian FX trading in the region
MarkitServ upgrades CCP interfaces to enable FX reporting
Middleware provider has revamped the FX clearing interface with LCH.Clearnet and CME Group, to meet CFTC rules requiring CCPs to report
Reyker adds James Chu and looks to expand retail structured product offerings
Former managing director of Incapital Europe, James Chu, has joined bespoke financial service provider Reyker Securities to head its latest structured product distribution initiative
Brics leaders agree to set up $100 billion ‘financial safety net'
Contingent reserve agreement will allow Brics countries to provide each other financial support and will 'contribute to strengthening the global financial safety net'
AIFM directive unlikely to cause significant changes in Cayman
The Cayman Islands Monetary Authority has opened negotiations with Esma on a co-operation agreement on the EU’s AIFM directive. Separately, its consultation on hedge fund directorships has closed
Bloomberg may set up futures exchange
Trading venue looks to hedge its bets if it fails to close the margin gap between OTC swaps and futures
TD Securities loses Asia-Pacific FX sales head
Joe Craven departs the Canadian bank in Singapore
Tarns gain favour as investors seek to exploit range-bound pairs
Target accrual redemption notes have regained some popularity after losing favour during the crisis, but investors are keeping a firmer eye on the risks, say dealers
Ex-RBS Asia strategist moves to the buy side
Woon Khien Chia left RBS in late January and will join Singapore-based hedge fund JL Capital in May
Ex-Goldman Sachs salesperson joins Jefferies in Singapore
Stephane Targui has joined the US bank in Singapore, taking up a senior sales position in the region
EBS appoints head of market surveillance
Simon Friend joins from the UK Financial Services Authority as EBS continues to expand its global management team
Goldman Sachs hires in Australian FX sales
Catherine Rich joins from Deutsche Bank to cover real-money sales, based in Sydney
Foreign exchange market set for growth in 2013
Drop in global asset correlation and regulation set to favour foreign exchange
Thomson Reuters Dealing expands into Nepal
Vendor reveals that 21 dealers in Nepal are live on its conversational dealing platform
Depositors will trust EU guarantee despite Cyprus, says BdF official
Policy-makers have incentive to accelerate deposit guarantee plans, says Sylvie Matherat of the Banque de France
Trade reporting hits hurdles as regulators overwhelmed by data
The CFTC last week admitted it is having trouble making sense of the masses of OTC derivatives data now being reported to repositories, casting doubt on the stability of the new reporting regime
Rolling spot faces inclusion in Dodd-Frank
FX spot is expected to be exempt from US clearing and exchange trading rules, but rolling spot could be classified as a CFD and so included within the scope of Dodd-Frank