News
Forex TCA heads into pre-trade sphere
Banks are increasingly offering pre-trade transaction cost analysis in an effort to help their clients better understand how to ensure best execution prior to committing to the trade. Kathy Alys reports
Basel proposal to capitalise settlement risk ‘unnecessary’
In comment letters published this week, banks have taken issue with Basel Committee guidance that would capitalise post-execution exposure to settlement risk
Local trade repositories are necessary, says senior HKMA official
The benefits of local trade repositories outweigh the possible disadvantages of multiple reporting requirements, says executive director of HKMA’s financial infrastructure unit
HSBC reshuffles institutional sales management
Claude Goulet promoted to head of institutional FX sales in Emea, as Chris Smith joins to head hedge fund sales
Hotspot FX takes a hit from Hurricane Sandy
A power outage at Knight Capital's New Jersey headquarters yesterday forced Hotspot FX to request that clients divert business to other platforms
Danske hires FX bank sales head
Ex-Barclays salesman will start at Danske on January 1, reporting to Niklas Karlsson
AML under the spotlight at FXDD
Retail broker slammed by industry regulator for compliance failures, signalling continued threat of abuse at retail forex brokers
UK FSA issues £250,000 in fines for reporting failures
Regulator clamps down on reporting failures. Fines are the first under new FSA penalties policy.
Advanced Markets exits US retail market
Margin forex brokers continue to exit US market to focus on institutional business
FX to remain a 'cornerstone' of streamlined UBS
Swiss bank admits FX revenues declined during Q3 but vows FX will be a core business in its downsized investment bank
Integral hires Reuters veteran in New York
Douglas Sidnam joins the technology vendor as global head of solutions
TraFXpure accelerates as three more banks sign up
Bank-backed spot platform now has the support of nine banks as it reveals further details of its matching logic, which it believes will eliminate technology and latency arbitrage opportunities
CFTC could force funds to break US or European law
The CFTC's broad definition of a US person could leave European hedge funds facing conflicting rules
NAB beefs up institutional FX sales team
National Australia Bank has made three additions to its sales team in recent months from ANZ, JP Morgan and Morgan Stanley
Trading places, October 29, 2012
New hires in FX sales at Crédit Agricole and Commonwealth Bank of Australia
Hong Kong dollar could be re-pegged, say traders
Recent intervention by the Hong Kong Monetary Authority to stem the strength of the Hong Kong dollar has prompted speculation the currency could be re-pegged
BAML expands in FX sales
BAML has made three appointments to its FX sales team in Europe, including Tariq Haider who joins from SG CIB
UBS veteran takes top FX sales role at RBS
After a year-long break from the industry, Ed Hulina joins Royal Bank of Scotland to head up FX and emerging markets sales in the Americas
China to widen RMB trading band again before end-2012
Further liberalisation of renminbi is on the cards in the near future, says senior RBS strategist
SurfacExchange to move into emerging market currencies
The start-up currency derivatives platform will add the Brazilian real and the Mexican peso by the start of 2013 as it responds to investor demand for emerging market currencies
Deutsche reshuffles institutional FX sales management
Deutsche Bank has appointed four institutional sales heads in Europe under global head Kenan Altunis, following his recent promotion
Barclays reshuffles in FX strategy
The UK bank's head of global FX strategy has moved to a new role, to be replaced by Jose Wynne
Brevan Howard partner departs
Klaus Oestergaard has left the hedge fund
FX Week launches iPad edition
Joel Clark introduces FX Week's brand new iPad edition and explains how it will deliver extra value to subscribers