News
Danske Bank hires Cioffi and plans global build
Danske Bank has hired Raffaele Cioffi to its spot trading desk in Copenhagen and plans to expands its global presence.
Icap to upgrade EBS block-trading platform
Interdealer broker Icap will upgrade Continuous Match, its newly launched FX block-trading platform, in the second quarter, the broker has told FX Week.
HMT's Hoban: Beware of sweeping forex into EU derivatives reform
Advocates of an exemption from mandatory central clearing requirements for foreign exchange swaps and forwards have won the support of the UK government, as a senior treasury official admits to the risks inherent in regulating FX in the same way as other…
London retains premier spot in FX, according to volume figures
London remained the biggest financial centre for FX in 2010 according to volume figures published globally on January 31, despite speculation it would be overtaken as a result of the UK government's clampdown on bonuses.
James Fauset leaves Goldman Sachs for Brevan Howard
James Fauset, head of hedge fund sales at Goldman Sachs in London, has left the investment bank for hedge fund Brevan Howard.
Commissioners voice mounting alarm over 'seriously strained' CFTC budget
Concerns over the ability of US federal regulators to enforce new financial reform legislation have intensified, with a senior regulator accusing the head of the Commodity Futures Trading Commission (CFTC) of playing "a game of budgetary chicken" with…
Standard Bank restructures London FX
Standard Bank is merging its London FX business with its local markets business, the South African bank has confirmed.
Further BarCap departures emerge
Further departures from Barclays Capital (BarCap) in London have emerged as the bank reorganises its foreign exchange business and trims its workforce.
Standard Chartered talks Turkey
Standard Chartered in Dubai has set up a forex desk focused on Turkey, it announced on January 24.
RBC to roll out decimalisation on FX Direct
RBC Capital Markets plans to launch decimalised pricing in the second half of the year on its single-dealer platform, FX Direct, bringing it into line with banks including Deutsche Bank, Royal Bank of Scotland, Citi and Barclays Capital.
SuperDerivatives moves to improve options pricing transparency
Client push for more transparency in pricing methodology drives vendor to add new models and publish secret source code.
Trading Places, January 31, 2011
Read this week's Trading Places to catch up on people moves across the FX world.
LCH.Clearnet 'shocked' at Dodd-Frank capital requirement
CCP's chief executive speaks out against CFTC ruling at New York conference.
Capital rules for CCP exposures could make clearing costs punitive, dealers conclude
Clearing of over-the-counter derivatives could become punitively expensive if a proposal by the Basel Committee on Banking Supervision to increase capital held against exposures to central counterparties (CCPs) is not watered down, according to dealers.
Fourth-quarter results a mixed bag for US banks
US dealers reported widely differing results for the fourth quarter of 2010 as competition returned to the market.
Trading Places, January 24, 2011
Read this week's Trading Places to catch up on people moves across the FX world.
Eight pilot SurfaceExchange FX derivatives platform
SurfaceExchange is piloting its anonymous FX derivatives trading platform with eight traders and plans to go live at the end of the first quarter.
ANZ gets Moore from Barclays Capital
ANZ has hired Paul Moore, a former Barclays Capital emerging markets trading head, alongside other FX appointments Christophe Massa and Thomas Mummert, according to market sources.
Israel clamps down on forex derivatives
The Bank of Israel (BoI) has joined the growing number of emerging market central banks to introduce tougher regulations on forex to battle the rise in speculative trading.
Volcker rule could interfere with bank hedging
Dealers in the US could find their market-making and hedging freedom curtailed by a proposed ban on proprietary trading, if the final rules mirror an ambitious study published on Tuesday (January 18) by the Financial Stability Oversight Council (FSOC)…
Delelis finds a new home
Former head of spot and proprietary trading at Credit Suisse Alain Delelis has been hired by proprietary trading firm First New York Securities in New York (FX Week, March 22, 2010).
SocGen strengthens strategy team
Société Générale has strengthened its foreign exchange strategy team with three new hires in London, following the departure last year of senior FX strategist Valentin Marinov in London.