News
Forex volumes up in September
LONDON & CHICAGO - Electronic brokers reported a year-on-year rise in trading volumes in September, reflecting a renewed appetite for risk.
HSBC FXPB preps Asia push
HONG KONG - HSBC plans to extend FX prime services to the Asian markets as it looks to take advantage of rising demand for prime brokerage in the region.
BarCap hires new strategy head
NEW YORK – Barclays Capital (BarCap) has hired Jeff Young in a newly-created role of managing director and head of North America FX research, in New York, the bank said on Wednesday 6.
Bank of China targets high net worth with FinIQ
Bank of China International Holdings (BOCI) has licensed the FinIQ Structured Products System to support its new private wealth management business, officials said last week.
Kemp named managing director at Afme FX division
The Association for Financial Markets in Europe (AFME) has named James Kemp as managing director of its recently formed global foreign exchange division.
Yield strategy comes up trumps in September
Carry traders would have been the top performers among currency managers in September, indicates research from the Royal Bank of Scotland.
RBC continues Asia-Pacific build and globalises Fic central bank sales
RBC Capital Markets has hired Glenn Anson as a managing director and global co-head of central bank sales, from Nomura in London.
Morgan Stanley hires Héritier from RBC
Morgan Stanley in London has hired Francois Héritier to its French corporate sales team, according to market sources.
Savi Asset Management launches in October
LONDON - Proprietary trading company Savi Trading (Savi) will launch a managed account service for FX and equity traders in October under the banner Savi Asset Management (SAM).
Senate confirms two out of three Fed directors
Last-minute deal seats Yellen and Raskin, Diamond turned down
CME chief says central clearing house removes 'black swan' threat
Chicago Merchantile Exchange's (CME) Asia energy and metals chief says the group’s central counterparty clearing (CCP) house removes the possibility of a ‘black swan’ incident
Barclays Capital boosts prime brokerage distribution
NEW YORK & LONDON - Barclays Capital is boosting sales coverage of foreign exchange product as part of the expansion of its cross-asset prime services business.
SocGen makes key options hire in London
LONDON - Société Générale has hired Tariq Haider in London as head of the options desk, according to market sources.
Future of OTC operational commitments under review
OTC derivatives legislation prompts rethink of industry letters to the New York Fed
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…