News
StanChart restructures institutional sales team
LONDON – Standard Chartered has implemented a new structure for institutional sales in London, following the departure of Tara Hunt, head of global investor sales in October last year.
Algo trading goes mainstream
COPENHAGEN – Saxo Bank is bringing algorithmic trading into the mainstream with plans to launch an algo trading tool for retail investors this quarter.
Nybot launches peso and real FX futures to support coffee traders
NEW YORK – The New York Board of Trade (Nybot) is preparing to launch futures in the Colombian peso and Brazilian real next month.
Traders in Thailand tied up over market reforms
BANGKOK – Reforms by the Bank of Thailand (BoT) on short-term capital inflows introduced last month are having a "drastic" effect on markets in Bangkok, say traders.
Spotradar from Nostradamus predicts good times ahead
LONDON – Nostradamus, a forex predictions company, is looking to sign a raft of new clients for its Spotradar automated trading system in the next few months.
A flying start to 2007 Currency strategies down in 2006
LONDON – Most currency funds are likely to have ended 2006 nursing losses, with trend followers down around 6%, according to research from ABN Amro.
Top performers will see 20% rise in bonuses
GLOBAL – Top performers at global banks should expect to see bonuses rise by up to 20% this year, according to recruitment consultants in London.
SuperDerivatives upgrades structured products platform
LONDON – SuperDerivatives has released a new version of its interest rate options and structured products platform, SD-IR.
A flying start to 2007
GLOBAL – The year is off to a flying start as currency markets opened with a healthy level of volatility last week, said traders.
ABN Amro cuts 900 jobs across North America
CHICAGO – ABN Amro is to cut 900 jobs in North America this year, which will see its workforce in the region drop by 5%. A spokesman in Chicago said the cuts "will affect almost all areas of the company, in almost all parts of the country". He declined…
Algo trading goes mainstream
COPENHAGEN – Saxo Bank is bringing algorithmic trading into the mainstream with plans to launch an algo trading tool for retail investors this quarter.
Currenex selects TradePVR for FIX connectivity monitoring
Santa Clarita, California – Liquidity aggregator Currenex is using the TradePVR network appliance product from Helium Systems for FIX connectivity monitoring and archiving.
Taiwan quake hits e-trading in Asia
ASIA – Trading over electronic foreign exchange dealing systems was disrupted during Asian hours, after an earthquake hit Taiwan on the night of December 26.
Bank of Thailand backtracks on reserve requirements
BANGKOK – The Bank of Thailand (BOT) went back on regulations introduced on December 18, by removing the 30% foreign currency reserve requirements on current account activities and equity investments.
Wooden Nickel scammers fined $25 million
NEW YORK – Individuals and companies involved in the Operation Wooden Nickel trading scam have been ordered to pay some $25 million by the Commodity Futures Trading Commission (CFTC).
March 2006 - FXall agrees to sell 20% stake to TCV
NEW YORK – FXall agreed to sell a 20% stake to private equity firm Technology Crossover Ventures (TCV), based on an overall valuation of $300 million for the company, sources told FX Week .
CLS Bank reports record volumes
NEW YORK – CLS Bank set a new record for the value and volume of payment instructions settled in a single day, on the back of increased fund participation.
Forex fraud spreads to Asia-Pacific
Meanwhile, last week saw a US company fined more than $12 million for defrauding customers in Japan and China.
The sands of forex will shift in 2007
GLOBAL – 2007 will see a big shift in the landscape of the FX industry, according to leading market participants.
The sands of forex will shift in 2007
GLOBAL – 2007 will see a big shift in the landscape of the FX industry, according to leading market participants.
Senior changes at US banks
LONDON & NEW YORK – JP Morgan and Goldman Sachs have made senior management changes that will come into effect early next year.