News
In Brief, November 8, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
BarCap rebuilds after slew of departures
Barclays Capital is rebuilding its FX sales team after a series of high-profile losses earlier this year.
Citi appoints bank sales chief
Citi has restructured its FX sales desk with the promotion of Bapi Maitra to global head of bank sales in New York.
BNP Paribas live on Harmony Netlink by next week
BNP Paribas will go live on Traiana's Harmony Netlink by next week pending test results, according to Marco Baggioli, European head of FX prime brokerage at the bank in London.
CLS to double input capacity by year-end
CLS plans to double the capacity of its trade notification gateway by year-end, which will prevent a repeat of the backlog that emerged from the May 6 spike in trade, officials tell FX Week.
Trading Places, November 8, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Basel Committee considers capital charges on bank exposures to CCP default funds
A new capital charge on bank exposures to CCP default funds could be introduced in December, says Osfi's White.
Hong Kong will not abandon dollar peg: HKMA’s Chan
Hong Kong Monetary Authority chief executive Norman Chan says central bank will maintain dollar peg
CME hires from CLS
CME Group has found a new managing director and global head of FX, according to market sources.
Mallinder at DealHub
David Mallinder has joined post-trade technology vendor DealHub as head of electronic FX business development in London.
BGC's forex revenues rise in Q3
BGC Partners reported a 24% rise in brokerage revenues from foreign exchange to $44.4 million in the third quarter versus the same period last year, it announced last week.
Nomura promotes Steck; builds LatAm coverage
Nomura has made three key promotions across sales and trading, as it builds up its global strategy.
EC likely to follow a US clearing exemption for FX swaps and forwards
The European Commission (EC) is likely to exempt foreign exchange swaps and forwards from a mandatory clearing requirement if the US decides to do so, according to Patrick Pearson, head of the financial markets infrastructure unit at the EC.
BNP Paribas hires Sinsheimer
Allen Sinsheimer has joined BNP Paribas as head of the institutional client group for Europe in London. He reports locally to Arne Groes, global head of fixed-income sales.
Short-volatility strategy wins in October
Currency managers using the short volatility strategy were the best performers in October, indicates research from Royal Bank of Scotland.
Commerzbank continues global build in trading and sales
Commerzbank has boosted its rates division with a series of hires across sales and trading in London, New York and Singapore.
smartTrade launches LiquidityConnect for FX
Liquidity management software vendor smartTrade Technologies has launched LiquidityConnect for FX, it announced on November 2.
In Brief, 1 November, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Homogeneous regulations could contribute to risk, says former Brazil central bank chief
Arminio Fraga warns about the use of globally standardised methodologies for regulatory capital, as well as the dangers of multiple central counterparties
Cash variation margin requirements worry pension funds
Having to post cash as variation margin to central counterparties (CCPs) will cause substantial yield losses for pension funds that conduct liability-driven investment (LDI) strategies, according to fund managers.
Deutsche first client on Traiana Harmony for ETD
Deutsche Bank is the first bank to go live with Traiana’s new Harmony network to manage exchange-traded derivatives (ETD), it announces today (November 1).
New MD joins BlackRock
Les Gosling has joined BlackRock as managing director in the BlackRock Solutions team in London.
FXall and EBS roll out fractional pricing
Fractional pricing is being rolled out at FXall across 72 currency pairs, including EUR/USD, on November 1 as EBS continues its phased rollout.
Buy-side targets capital efficiency, says UBS
Findings of UBS analysts stoke fears of race to the bottom among over-the-counter derivatives clearing firms