News
CIBC appoints Yeoh, Lee and Downing
Canadian Imperial Bank of Commerce (CIBC) has made three senior hires to its Hong Kong and Toronto offices.
Spot fixes tie-up will benefit the market, say Icap and Thomson Reuters
Interdealer broker Icap and Thomson Reuters are now delivering benchmark spot foreign exchange fixes for six major currency pairs, a development both companies say will improve pricing for FX market participants.
FX off the agenda at European Parliament meeting
The Economic and Monetary Affairs Committee (Econ) of the European Parliament has continued to ignore the treatment of foreign exchange in European derivatives legislation, according to Kay Swinburne, a British member of the European Parliament (MEP) in…
Panellists divided over whether TCA cuts off execution venues
Buy-side traders are divided over whether the use of transaction cost analysis (TCA) tools materially influences their choice of execution venue, according to panellists at the FIX Protocol Trading Conference in London on March 1.
Gold-i unveils improved Gold-i Gate Bridge
Vendor launches version 2.5 of flagship system with improved functionality
Wall Street Systems up for sale
Technology vendor Wall Street Systems is up for sale after US private equity firm Warburg Pincus, which acquired the vendor in 2006, undertook a tender process in late 2010 to gauge market interest in its holding. Wall Street Systems declined to comment.
In Brief, March 7, 2011
Read this week's In Brief to stock up on the latest technology news around the FX world.
Trading Places, March 7, 2011
Read this week's Trading Places to catch up on people moves across the FX World
Saxo reports record 2010 with strong FX volumes
FX made up 70% of the bank's income last year, but 2011 strategy is to diversify into other asset classes
Ex-BAML DeLorenzo installed at SocGen
French bank hires FX trader as head of short-term interest rate trading
TD Securities hires Steve Smith in FX sales
Former Credit Agricole salesman joined Canadian firm on March 1
Hoornweg takes on new role at UBS after senior departures
Global head of FICC and head of securities both understood to have left the bank in February
RBS hires O’Brien from BAML
New FX sales director will expand platform to real-money clients
Pricing and relationships still key, says Axa’s FX head
Competitive pricing and a strong relationship remain key to the buy side’s choice of trading counterparty, according to Lee Sanders, head of foreign exchange and fixed-income execution at Axa Investment Managers in London.
Deutsche Bank takes offshore renminbi electronic on Autobahn
Deutsche Bank claims to be the first major dealer to offer offshore renminbi on an electronic trading platform
CLS considers membership category for CCPs
Foreign exchange central settlement provider CLS Bank is considering the creation of a new membership category for central counterparties (CCPs) developing clearing services for FX derivatives, the firm has told FX Week.
FSA’s Ross to become Esma’s first executive director
Verena Ross, director in the UK Financial Services Authority's (FSA) international division, is to move to the newly formed European Securities and Markets Authority (Esma) as executive director.
Malfunctioning algos could cause another flash crash, academic warns
Robotic foreign exchange trading systems could malfunction and lead to a repeat of the May 6 flash crash in the US, according to David Cliff, professor of computer science at the University of Bristol.
European Parliament committee accelerates on derivatives reform
Committee members will discuss draft report today and have until March 15 to suggest amendments
Brooks departs Société Générale in New York
French bank loses its head of FX options trading in New York
Trading Places, February 28, 2011
Read this week's Trading Places to catch up on people moves across the FX world.
Deutsche Bank promotes Rodgers to new FX role
Former head of FX derivatives takes on expanded role as spot and options businesses merge
Darling to join CIBC in London next week
RBC's former emerging markets head bound for CIBC
Catherine Liddiard exits UBS
Swiss bank loses senior FX salesperson