News
Banks claim €300 billion hole in margin study
Banks call for Basel Committee and Iosco to re-run study on impact of uncleared margin rules after errors emerge
Nalm 2013: Debate rages over how to manage expanding reserves
Central banks enter into new asset classes and alternative currencies but Bank of Israel’s Andrew Abir rejects value of renminbi as a reserve currency
Central banks grapple with risks arising from FX reserves
Holdings of foreign exchange reserves at central banks has increased since the crisis, and market participants believe diversification into new currencies could now pick up
Saxo Bank and Gain Capital net profit collapses by 80% in 2012
Online bank and trading companies suffer as retail trading volumes fall amid stagnant markets
EDF Man appoints new global FX head
Ryan Schiff promoted to global head of foreign exchange at broker EDF Man Capital Markets
BoJ's inflation target unattainable, says Nomura
Panellists at Bloomberg event yesterday debated whether the yen will continue to weaken as the Bank of Japan pursues an ambitious 2% inflation target
StanChart revamps electronic trading management
New e-trading group for FX, rates and credit is headed globally by Raymond Koole, and regionally by Chris Knight in Singapore and Pascal Pipponiau in New York
JP Morgan reshuffles Emea FX sales team
Changes at US bank see Max Leffen and Michael Spencer, both take on senior roles in Emea institutional sales team
NAB loses global FX trading head
National Australia Bank's global head of FX trading, Tom Pragastis, is leaving after six years to move to the buy side
New York Fed demands better management of FX risks
Greater use of capital and collateral to mitigate all risks relating to FX trading is crucial, warns Jeanmarie Davis, head of financial market infrastructure at the NY Fed
Thomson Reuters matches EBS with revamped strategy
Icap's EBS and Thomson Reuters have initiated major structural changes over the past year; as they continue to evolve their new strategies, and ParFX prepares to launch with the aim of becoming a third primary venue, further structural shifts are set to…
CLS faces uphill battle to meet currency expansion targets
FX settlement system aims to add another 17 currencies within 10 years, but some caution that CLS membership doesn't make economic sense for certain emerging market currencies
Investors return to FX as volatility and volumes rise
Banks are reaping the benefits of the return of hedge funds to the FX market as a result of rising volatility, which in turn is driving volumes higher
Trading places, March 11, 2013
New appointment at BNY Mellon Asset Management, while Morgan Stanley loses a sales head in Asia
GFI eyes expansion into PHP through Manila office
Interdealer broker hopes to offer forwards and NDFs in the Philippine peso by year-end, after it opened an office in Manila in January
Fenics partners with Traiana for post-trade connectivity
Fenics Software will use Traiana's Harmony network to connect its clients to trade repositories and central counterparties as mandatory reporting and clearing looms
FXCM share price drops 4.33% on results
Retail broker sees collapsing share price following weak earnings
Oanda discontinues social networking platform
Online broker shuts fxUnity within a year of launch amid fears of extensive risk taking
Dukascopy boosts coverage of Japanese and Turkish markets
Swiss bank forms partnership to expand footprint in Middle East and Asia
Credit Suisse prime services head to change roles
Philip Vasan, formerly head of global FX and now head of prime services, will move on to run the private banking division in the Americas next month
Deutsche gains ex-Credit Suisse hedge fund sales head
Thomas Farrer will join Deutsche Bank in London next week, reporting to Brian Sweetnam
UBS salesman returns after three years at Barclays
Swiss bank has re-hired an institutional FX salesman in Stamford who left the bank in 2010 to join Barclays in New York
360T expands Americas presence
Platform has appointed a new institutional sales manager in the US, following two senior hires last year, and the departure of former regional head Philip Harris
FX Invest Europe: buy side diverges on value of e-trading
Speakers at FX Invest Europe conference in Zurich last week questioned the benefits of the increasing number of choices when it comes to electronic platforms and trading technology