News
Morgan Stanley loses global head of FX product strategy
Neill Penney, who before joining Morgan Stanley was product strategy head at FXall, has left the bank in London
Nilsson replaces Devo as Lloyds' head of corporate FX sales
Citi's Anders Nilsson joins Lloyds in London to fill role vacated by Colin Devo
Trading Places, April 29, 2013
Bank of America Merrill Lynch gains in FX sales, while Deutsche loses its head of e-FX trading
Client clearing not a priority for buy side
Clearing houses LCH.Clearnet and CME are extending their interbank FX clearing services to clients, but firms are showing little interest in clearing before they have to
FXCM launches unregulated FXCM Markets
Margin foreign exchange broker targets traders outside of US, Canada, UK, France, Germany, Australia and Japan
Betfair rejects CVC-led £912m takeover bid
A £912m takeover offer led by CVC Capital Partners has been rejected by UK–based online gambling business Betfair
Gain rejects FXCM, buys GFT for $107 million
FXCM's $195 million offer has been rejected, and Gain instead seals an acquisition deal with GFT
France leads eurozone in Chinese renminbi payments
Aims to promote Paris as an international hub for the renminbi are paying off, as France sees a 249% increase in yuan-denominated transactions
EBS and Moscow Exchange unveil plans for dollar-ruble fix
EBS says venture comes in response to market concerns about methodology of existing rate
RBS loses FX sales head to Standard Chartered
Mark Webster joins Standard Chartered as global head of FX sales
TD Securities hires head of European FX
Management hires at the Canadian bank continue as Perry joins from Morgan Stanley in London
Royal Bank of Canada appoints global head of FX options
Former Credit Suisse trader takes top options role at RBC Capital Markets in London
ADS teams with Pioneer to build presence in London
Middle East specialists white-labels to Pioneer Trader to grow its footprint in the UK, Europe and the US
Forum supports board of approval to vet Russian nostro banks
Participants at the International Ruble Settlement Forum agree initiative needed to promote use of real-time settlement in Russia
CLS appoints five new board members
New directors at the industry settlement utility selected from a variety of senior advisory and operations roles at major banks
Resilience in the euro fails to dent krona strength
A hands-off policy on the part of Sweden's central banks and good fundamentals mean the krona's ascendance will continue throughout 2013, say Swedish trading heads
Banks beef up quant solutions for FX in response to buy-side demand
Morgan Stanley and Commerzbank are investing in quantitative offerings as a part of their FX strategy, but other banks are pulling back from the business
State Street appoints Conway to head new product group
State Street has reorganised its product offering, appointing Jeff Conway to head the newly created 'Global Exchange' group
Citi appoints new head of e-FX trading
Richard Bibbey relocates from Sydney to London with the bank to replace Simon Jones, who recently departed to take time out from the industry
Ice shelves plans to launch FX clearing
Ice pulls out of the OTC FX clearing race, citing regulatory delays in finalising rules for mandatory clearing of OTC FX products
Standardised OTC swaps to launch within weeks
Isda-Sifma working group discussions continue but trueEX prepares to list OTC swaps with standard coupons and IMM dates
US futures brokers to meet new capital requirements from June 30
Regulators push to prevent abuse of loophole in capital requirements between retail forex and futures brokers
Tradition launches ParFX, aims to topple EBS and Thomson Reuters
Bank-backed spot FX platform ParFX hopes to rival incumbent platforms EBS and Thomson Reuters