News
EBS to move EUR/CHF away from decimalisation
Icap's EBS will complete the transition back to half and full-pip pricing on November 26 as data suggests the change has enhanced the depth of liquidity on the platform
BNP Paribas hires in sales and strategy in New York
Three new hires to the FX team at BNP Paribas, from Morgan Stanley, Credit Suisse and Wells Fargo
CLS adds to board with Nolop appointment
Bruce Nolop has been appointed to the board of CLS, the firm announced on Friday
Barclays Asia FX strategy head departs
Head of FX strategy for Asia ex-Japan has left Barclays after just 15 months at the bank
Trading places, November 12, 2012
New appointments at Bloomberg Tradebook and RiskBusiness, while JP Morgan's former chief risk officer will retire by the end of the year
Aussie forecasts revised after RBA decision to hold rates
Strategists have revised upwards their expectations for the Australian dollar after last week's RBA decision, but some expect further weakness next year
MarkitServ and Traiana prep pre-trade credit hubs
Post-trade technology providers are vying to build a pre-trade hub that will provide certainty of execution and clearing under new regulation, to be rolled out for rates, credit and FX within months
Roberto Hoornweg exits UBS
Co-head of fixed income, currencies and commodities has resigned from UBS after two years at the bank
New rules designed to kill OTC market, says European regulator
Central Bank of Ireland adviser says reforms will cause an "Ice Age" in the derivatives market
FXall gains ground in options with three new banks
Thomson Reuters' pre-trade capabilities compliment the new options offering, says FXall chief executive Phil Weisberg
EBS volumes hit multi-year low in October
Trading volumes on both EBS and Thomson Reuters fell even further last month, but some traders are expecting a pick-up in volume now that the US elections are over
Sucden Financial builds up Gold service
Institutional broker extends gold trading size to enable hedging in size
FXCM revenues up; gets increase in credit facility
Margin forex broker sees revenues up despite fall in volumes
Institutional FX salesman exits Deutsche
Deutsche loses an institutional salesman in Europe following a recent restructuring of the management of the institutional client group
UBS cuts claim FX roles in Europe
Two FX e-commerce business heads are understood to have left the Swiss bank as the bank executes its recently announced job cuts
GVC Gaesco white-labels FXCM platforms
Spanish broker signs up FXCM for retail forex and CFDs
Gain Capital revenues down as retail volumes halve
Margin forex broker takes hit from fall in retail forex volumes but aims to build institutional business.
Banks rethink clearing structures under CFTC pressure
CFTC rules on conflicts of interest mandate clearer separation between OTC clearing and execution, prompting some banks to restructure their operations
No need to panic about collateral supply, says Bank of England
Isda estimates that mandatory clearing and margin could require the posting of up to $30 trillion of initial margin have been inflated, not least because of a likely exemption for FX swaps and forwards, according to a senior BoE official
Hong Kong insurers hedge out their US dollar exposure
Insurers in Hong Kong are revising their long-term policy of not hedging out their US dollar exposures
Banks suspend dual-currency deposit sales in Japan to re-document under new regulation
Returns on dual-currency and structured deposits will not be covered by state insurance scheme, Japanese FSA decides
Trading places, November 5, 2012
Credit Suisse loses in Asia FX sales, while UBS promotes Orcel to head up the investment bank
Buy side weighs risk mitigation against clearing costs
Buy-side firms look certain to bear some of the costs that result from mandatory central clearing, with some suggesting they might look to clear non-mandated products, were it not for the prohibitive costs
Wanted: the FX sales team of the future
Regulation is changing the job description of the FX salesperson, to the extent that the right candidate now needs a broader set of expertise than in the past