News
Regulation is the biggest concern for FX banks, says StreamBase survey
A majority of 52% of respondents to third annual survey cite regulation as their top concern - over and above the growth of competition from high-frequency traders
Lloyds continues hiring spree with Rarity and Khattak
Malcolm Rarity joins FX trading team today, while Asif Khattak will join corporate sales desk in October
Options traders braced for further SNB intervention
Demand has switched from downside EUR/CHF options to upside options in anticipation of further Swiss franc weakening measures from SNB, say senior options traders
SG’s O’Sullivan relocates to New York
Co-head of global FX trading has also appointed Rob Philbin as chief dealer in the US
Trading Places, August 22, 2011
Nomura loses its head of FX options, while Goldman Sachs hires a salesman from JP Morgan
David Chan to take lead role in FX business at SRCB
Joins from ANZ in Australia as deputy general manager of trade financing department
BAML promotes Landes to head EMEA spot desk
Joe Landes relocates from New York to London and will report locally to Chris Bae, head of FX trading EMEA
Banks departs BNP Paribas
BNPP's global head of FX and local market sales left the bank last week and is expected to leave the industry altogether after 24 years
CIBC hires FX strategist in Hong Kong
Patrick Bennett joins locally from Standard Bank
Thomson Reuters extends Elektron hosting to FX
Thomson Reuters Matching will be the first platform to be available through the Elektron proximity hosting service, but independent platforms will be added in due course, the vendor tells FX Week
Swiss franc strength attributed to 'absolutely no liquidity'
Dramatically reduced liquidity in August, coupled with sovereign debt concerns in the eurozone, have combined to strengthen the Swiss franc, say strategists
Sefs lose their painful bite
The prospect of swap execution facilities under the Dodd-Frank Act initially struck fear into the operators of single-dealer platforms facing a possible loss of business. The appearance of the Sef Clarification Act last month, coupled with a changing…
Barnes to return to RBS in October
Former global head of FX will become global head of client macro trading, reporting to Tim Carrington
Trading Places, August 15, 2011
Revolving doors at BAML, appointments at HSBC and cuts at Goldman Sachs
Kellaway takes interim trading head role at Lloyds
Head of swaps trading steps up to new interim role following restructuring at Lloyds and the departure of Ian Firth from his previous role as head of treasury and trading
GFI Fenics hires LatAm sales head
Appointment of Deborah Bonfield in New York comes months after four new hires in Asia
Richard Gladwin quits Nomura
Japanese bank's global head of FX left last Friday
Investors caught out by strength of Swiss franc and yen
Intervention from Swiss and Japanese authorities last week to weaken currencies meets with mixed success and leaves trading desks facing uncertain environment
Our summer of discontent
July and August typically herald a quiet period for FX trading desks with low volatility and subdued investor activity. 2011 has been very different, with banks facing a number of challenges across major currencies in recent weeks. How have they managed…
BGC adds non-deliverable options to Thomson Reuters Trade Notification
Interdealer broker says addition of non-deliverable options will enable its clients to benefit from reduced risks and costs
Trading Places, August 8, 2011
New appointments at HSBC, Santander and BAML, while Nomura loses a strategist
Ex-BarCap corporate duo joins Banca IMI in Milan
Nicola Baiocchi Di Silvestri and Nicola Giaretta have joined Italian bank to drive growth in corporate FX, rates and commodities
CIBC hires Tan from WestLB in Hong Kong
Soo Chin Tan joins Canadian bank to focus on growth market currencies in Asia
Lloyds recruits Underwood to head US trading
Ex-StanChart trading head started at Lloyds on August 1 and will be responsible for forwards and options trading in the region