News
Ice throws down FX clearing gauntlet to competitors
Competition in forex clearing intensifies as LCH receives regulatory approval and Ice explains how its rival offering will differentiate itself
FXall adds four directors to its board
Carolyn Christie, Kathleen Casey, Peter Tomozawa and James Fox have joined FXall’s board of directors, the firm announced yesterday
Saxo continues global expansion with SA office
Saxo is now targeting growth in the Middle East and South America, following its Johannesburg launch this week
Forex TCA providers proliferate as buy-side demand increases
Buy-side traders are increasingly changing the way they trade and the counterparties they choose as the sophistication of execution benchmarking tools increases, say TCA providers
Macquarie to offer bespoke beta and absolute return commodity products from June
Macquarie is extending its existing commodity sales and trading platform with the launch of a commodity investor products business, which will be led by ex-Goldman Sachs global head of commodities
CCPs need to provide margin efficiency, says industry panel
Central clearing will place a huge burden on end-users, forcing CCPs to consider how best to create operational and margin efficiencies
Platform rules for OTC markets could decimate smaller players, warn panellists
Single-dealer platforms and smaller market participants will suffer under new OTC regulations, according to speakers at Fix Protocol trading conference
Market divided on sustainability of yen slump
Barclays Capital has revised its USD/JPY forecasts upwards, but other banks believe the recent fall of the yen will turn out to be a short-lived trend
Fleschler departs Goldman Sachs
E-commerce VP leaves the bank in New York
Curran departs hedge fund sales head role at Nomura
Cost-cutting measures at Nomura hit forex sales and structuring, claiming Louis Curran, Mark Stafford and Peter Larsson
Guillaume Huteau joins BAML
Credit Suisse's former head of local markets FX options trading started at Bank of America Merrill Lynch yesterday
Absa Capital unveils five ETNs based on precious metals and currencies
Absa Capital has launched five exchange-traded notes, providing investors with exposure to precious metals and currencies.
Lloyds hires Deutsche’s Cassidy to head e-commerce and clearing
Joe Cassidy joins Lloyds in London today, reporting to Clare Francis, head of sales
Gil Mandelzis to replace Rutter as EBS chief
David Rutter is to leave Icap, as the interdealer broker restructures its electronic broking business
GFI soft-launches NDF risk-mitigation platform
GFI Group recently extended its ForexMatch Liquidity Swaps platform to new currency pairs, including USD/TWD and USD/CNY
Trading places, March 12, 2012
New appointments at Société Générale and CIBC, as JP Morgan's prop trading head departs
Bank focus on new options platforms intensifies
Tradeweb recently became the latest technology provider to launch a multibank trading platform for FX options, as a handful of new platforms compete to harness liquidity in the product. More than a year since the first platforms went live, which ones…
Bank Sarasin: Swiss franc is under control
The Swiss private bank's chief economist believes the threat of further intervention from the SNB will prevent further appreciation of the franc
Saxo turns in 6% income growth, despite tough Q4
Annual results for 2011 reveal a 4% fall in net profit, but Saxo claims that is due to a 12% increase in staff and admin costs to support expansion
European regulators undecided on initial margin rules for uncleared swaps
Counterparties will have to post variation margin on uncleared trades – but questions remain over which firms will have to post and collect initial margin
Banca IMI hires Citi’s Salcioli to head FX sales
Gianmarco Salcioli joins the Italian bank in Milan, having worked previously at Citi and Barclays Capital
Esma under pressure to opine on asset-class specifics in Emir
A public hearing on Emir draft technical standards earlier this week leaves market participants with ongoing concerns over asset-class specifics and implementation timeframe
Goldman Sachs loses three in FX sales
Artur Kuzma, Jonny Edelman and Jo Li have left Goldman Sachs
Move to electronic trading will increase hedge fund use of futures
Competition among buy-side companies and repercussions of Dodd-Frank will push hedge funds to trade electronically, says research from Tabb. Futures trading, mainly electronic, will also increase.