News
SuperDerivatives releases SDX
LONDON - SuperDerivatives is migrating customers to its new multi-asset front-office system, SDX, on October 10, David Gershon, chief operating officer at SuperDerivatives in London has told FX Week.
BarCap loses a further two to UBS
LONDON - UBS is continuing to lure FX staff away from Barclays Capital, with two additions from the UK bank in London.
HSBC completes first US cross-border renminbi trade settlement
NEW YORK - HSBC USA completed its first US cross-border renminbi settlement, following the extension of China’s renminbi trade-settlement pilot programme in June.
Citi opens China desks overseas as companies expand
Citi has opened hedging desks in Johannesburg, London, Sao Paolo and New York to help Chinese multinationals with hedging, cash management, trade and treasury services, and lending activities.
Asia-Pacific CVA Forum: Singapore live with CVA, Korea next?
Domestic banks in Singapore are starting to set up CVA desks at the behest of their regulator, but elsewhere in Asia there are significant obstacles to CVA.
Trading Places, October 4, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Icap attracts 15 counterparties to yuan trading
HONG KONG - Fifteen banks have signed up to trade USD/CNY on electronic broking system EBS Spot within the first week of launch, as the broker prepares to extend yuan trading against the euro, yen, Hong Kong dollar and Swiss franc in coming weeks.
UK banking commission moots reforms
Commissioners stress they have an open mind as to which structure will best suit British banking industry
Panellists: Back-office systems integration a must
Speakers at the London SunGard City day held in London agreed the increasingly global nature of clients' requirements calls for more unified and integrated back-office systems
BoC and Bocom set to open first mainland bank rep offices in Taiwan
Bank of China and Bank of Communications are set to make history by becoming the first mainland Chinese banks to have representative offices in Taiwan, since the island broke away from the mainland in the 1950s. To-date, seven Taiwanese banks have…
BIS must fix data gaps: Bank of England paper
Bank of England paper identifies specific information gaps in cross-border banking statistics published by Bank for International Settlements; improvements thought to be under way
GFI Fenics in end-to-end FX options automation
GFI Group aims to transform the electronic FX options business by automating the entire workflow process of pricing, risk management, bilateral trading, structuring and sales, through version 12.1 of Fenics Professional.
Westpac builds out staff globally
Westpac has made a series of hires in London and New York to better support its clients in the northern hemisphere, said Richard Attrill, the bank's London-based head of FX, commodities, carbon and energy for the UK and Europe.
Trading Places, September 27, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
UBS sources another ex-BarCap talent
UBS is continuing its senior management restructure with the hire of Andrew Kaufmann from Barclays Capital (BarCap) as global head of FX structuring, confirmed an internal bank source.
BAML continues restructure; evolves to meet regulations
NEW YORK - Bank of America Merrill Lynch (BAML) continues to reorganise its business post-merger and ahead of forthcoming regulations, resulting in management changes in FX and the launch of a futures and derivatives clearing service.
Let CCPs compete, Isda conference told
Competing for business will not fatally undermine derivatives clearing – as long as the system is well regulated, speakers claim
DBS outlines ambitions amid competition for Asia business
SINGAPORE - Singapore’s DBS Bank is investing S$250 million into its treasury and markets (T&M) business as part of ambitions to become a leading Asian currency and fixed-income house.
Corinne Neale joins Credit Suisse for Asia foreign exchange client risk advisory
Credit Suisse has added to its Asia foreign exchange risk advisory in line with the bank's strategy to expand forex business in Asia
Banks bags top sales job at BNPP
LONDON – Clive Banks has been promoted to the new role of global head of FX and local market sales at BNP Paribas in London, the bank confirmed today (Tuesday 21).
SGX AsiaClear aims to be Asia's CCP for rates and FX swaps
SGX president Muthukrishnan Ramaswami says the new interbank OTC clearing service for Singapore and US dollar interest rate swaps will target Asian banks as a start, and soon global investment banks that trade with Asian counterparties. Asian local…
Service outage hits Barclays Capital's first OTC clearing client
Client clearing glitch highlights the complexity of what is expected to be a major new business.
Vol drops as BoJ intervention proves successful
TOKYO - Yen volatility dropped sharply as intervention by the Bank of Japan (BoJ) last Wednesday (September 15) proved successful, leaving the dollar/yen range-bound into the end of the week.