News
CLS appoints Butor as head of European regulatory affairs
Gabor Butor will develop relationships with regulators on behalf of CLS Group
Options traders sense SNB running out of steam
Options traders are betting on further appreciation of the Swiss franc, following comments from the Swiss economy minister that Switzerland will have to put up with a strong currency
New standard CSA could be rolled out in Q2 2012
An implementation plan for the new standard CSA is set to be reviewed by the Isda board in September, with a first-phase rollout expected as early as the second quarter of 2012
RBS launches gamma hedging algo for forex clients
New algorithm is designed to automatically hedge gamma sensitivity of foreign exchange options
CME Chilean peso clearing service awaits first trade
The CME says FCMs are the reason for the delay in offering its clearing service of non-deliverable forwards in USD/Chilean peso
Trading Places, September 5, 2011
A round-up of the latest movers and shakers for the week commencing September 5, 2011
Chan joins CIBC from Standard Chartered
Kenny Chan joins CIBC in FX sales from Standard Chartered
NAB appoints Glen in London FX sales
Paul Glen will join Australian bank this month, having moved from Royal Bank of Scotland
Thaker quits Bank of America Merrill Lynch
Global head of structured rates and currencies trading Neh Thaker leaves bank
Pearson joins RBS to head spot trading
Royal Bank of Scotland confirms high-profile hire of spot trader James Pearson from Nomura
Multiple repositories must adhere to common standards, says CPSS-Iosco
International coalition of regulators recognises the likelihood that multiple trade repositories will be set up along global, regional or national lines and sets out recommendations for minimum standards
LCH.Clearnet reiterates commitment to FX clearing
Clearing house reaffirms its intention to launch ForexClear, which will sit alongside SwapClear and a newly expanded CDSClear service
Corporates cover their backs with longer-dated options
Corporate hedgers buy longer-dated options amid increased volatility in foreign exchange markets, say market participants
Trading Places, August 29, 2011
New appointments at Barclays Capital, Bank of America Merrill Lynch, RBC and RBS
Knight Capital to launch Hotspot Private Label by end of the year
Private label offering includes administrative and risk management tools and full reporting capabilities
View from a global head of FX
Tim Carrington, global head of FX at Royal Bank of Scotland, talks to Farah Khalique about the exceptionally poor liquidity in FX markets in recent weeks and why he remains bearish on the US dollar but bullish on sterling and the yen
BNPP recruits Goodwin to head corporate sales in New York
Deron Goodwin’s appointment from RBS comes weeks after the departure of Clive Banks and John Chase in London
Saxo secures major private equity shareholder
TPG Capital takes 30% stake in Saxo Bank, with the option to increase to 40% by October
ING recruits Hernandes in hedge fund sales
Javier Hernandes has left RBS in London, along with Paul Glen
Natixis hires FX sales trio from Crédit Agricole
Cheryl Galante and Ellen Galluccio join FX sales team, while Gregory Fage’s appointment as head of FX, rates and money market sales is confirmed
Feller replaces Cousins as Westpac’s head of spot
Reto Feller joins the Australian bank from BlueCrest Capital Management
Swedbank hires Söderlund from BAML
Ex-BAML salesman will start on October 1, reporting to Matz Eriksson
RBS appoints Mount head of FX tech-based trading
Ed Mount joins from Elysium Technology, and has also worked at UBS
Henderson joins State Street Global Markets
John Henderson moves to State Street from Lloyds Banking Group