News
Further restructuring at Bank of America
LONDON – Ravi Mudan has been promoted to global head of FX proprietary trading at Bank of America (BoA) in London.
TCS signs international deal with Cfets
BEIJING – IT and consulting company Tata Consultancy Services (TCS) will implement an international trading system for the China Foreign Exchange Trade System (Cfets), the company said last week.
Cognotec axes jobs in development and sales
DUBLIN – Cognotec slashed up to 40 jobs last week, as part of a restructure at the technology company.
Swiss and French banks declare a healthy 2006
ZURICH & PARIS – European banks releasing annual statements last week have posted bumper results for 2006.
BoNY launches upgraded version of iConfirm
NEW YORK – The Bank of New York has launched a new version of iConfirm, a web-based system that automates confirmation processing for FX trades.
Hunter leaves FXMarketSpace; Sears and Robson split role
CHICAGO – Bryan Hunter, chief operations officer of Reuters and Chicago Mercantile Exchange joint venture platform FXMarketSpace, has left.
Celent consulting report hails the exchange model
PARIS – The exchange model is set to be the future model for FX, according to a report released last week.
Senior shake-up at Deutsche
LONDON – Deutsche Bank has realigned senior FX management, and has created two new roles to expand its forex coverage.
BarCap hires Lehman hedge fund FX chief
GLOBAL – Graham Bibby, head of FX hedge fund sales at Lehman Brothers, is understood to have left the bank for a similar position at Barclays Capital.
Morgan Stanley creates global head of FX role
NEW YORK – Morgan Stanley has named Steve Mettler global head of FX sales and trading in New York.
Texas court fines PIC $123 million
WASHINGTON DC – The Texas Federal Court has levied more than $123 million in fines and restitution, in a case filed against Premium Income Corp (PIC) and its affiliates, Inforex and Tri-Forex International.
Currenex set to move into new asset class
NEW YORK – Trading technology vendor Currenex is going multi-asset class, according to officials at the company in New York.
RBS names Richardson head of options and EM in New York
NEW YORK – RBS has made Jason Richardson head of currency options and emerging markets for the FX business in New York.
Deutsche and Mercer team up
LONDON – Deutsche Bank and Mercer Investment Consulting have teamed up to launch a multi-manager currency investment product.
MG Financial begins streaming Dow Jones news
NEW YORK – Retail FX company MG Financial last Thursday (February 8) began streaming currency news from Dow Jones Newswires, through its FX trading platform DealStation.
EBS adds ruble trading to spot platform
LONDON – Spot broker EBS has launched ruble trading over its spot matching platform, EBS Spot.
FXDD launches automated platform
NEW YORK – Online FX trading company FXDD last week launched an automated currency trading platform named FXDDAuto.
Citigroup names Prasad global head of forex and local markets
LONDON – Anil Prasad, head of CEEMEA sales and trading, has been named global head of FX and local markets at Citigroup in London.
Rolfe & Nolan announces readiness for FXMS
CHICAGO & LONDON – Rolfe & Nolan has completed product development, testing and implementation for the FXMarketSpace (FXMS) initiative, making trading on the new platform available to Rolfe & Nolan customers and potential users.
Goldman bullish on Bric
LONDON – The New World economies are to overtake Old World economies within 25 years, according to Jim O'Neill, head of global economic research at Goldman Sachs.
Nordea offers forex trading over ExNet this quarter
COPENHAGEN – Nordea will begin offering executable streaming prices (ESP) for FX to clients over ExNet, a connectivity network from Orc Software, this quarter. ExNet enables trading access to liquidity pools, including exchanges and electronic…
Citigroup names Prasad global head of forex and local markets
LONDON – Anil Prasad, head of CEEMEA sales and trading, has been named global head of FX and local markets at Citigroup in London.
Strategists warn of carry trade risk
LONDON – FX markets could face disruption as the carry trade and a declining yen reached critical levels last week, warned analysts.