FX Markets - Vol 18 No 30
Articles in this issue
ANZ buys into Vietnamese brokerage
HO CHI MINH CITY – Australian and New Zealand Banking Group (ANZ) has agreed to acquire a 10% stake in Vietnamese securities and investment banking organisation Saigon Securities.
Strong second quarter for major banks
NEW YORK & STOCKHOLM – Merrill Lynch, Citi and SEB reported strong financial results last week, with all three banks experiencing year-on-year gains.
Sterling shifts towards fixed-income
Sterling's sources of strength amid slowing M&A activity are analysed by David Bloom and Paul Mackel , of HSBC's London-based FX strategy team
BNP Paribas adds three in sales from HSBC
SINGAPORE – BNP Paribas is believed to have boosted its FX sales team in Singapore, with three hires from banking rival HSBC.
Plimsoll adopts Aegis aggregator
CHICAGO Plimsoll Capital will begin exclusively using Aegis Software's AthenaTrader on August 13 to perform spot FX trades on its Armada High-Frequency FX Program fund.
Morgan Stanley names sales heads
NEW YORK – Morgan Stanley has appointed two new FX sales heads, a spokesperson at the bank has told FX Week .
Citi appoints head of electronic execution
NEW YORK & LONDON – Citi has appointed Richard Evans to a newly created role as global head of electronic execution in London, and has relocated its current head of fixed-income, currencies and commodities from New York to London.
Trading Technologies to connect to MexDer
CHICAGO & MEXICO CITY – Chicago-based software vendor Trading Technologies International (TT) has announced it will connect its derivatives trading platform X_TRADER 7 to the Mexican Derivatives Exchange (MexDer).
RBS adds in structured products
Stanley Ng has been appointed managing director, head of structured investor product development and marketing at RBS in Singapore.
New technology boosts retail FX volumes
BOSTON & LONDON – New technology has been behind booming daily volumes in the global retail FX market, according to Catherine Hardiman, London-based head of Deutsche Bank's retail platform dbFX.
ETrade to launch US retail FX trading
NEW YORK – Electronic broker ETrade will make FX trading available to US retail investors in five currencies via its Global Trader platform by this Friday (July 27). GlobalTrader has been piloting since February ( FX Week , February 26).
WMBA head speaks on best execution
LONDON – A potential solution to proving best execution in FX options and ancillary services is to reclassify the individual client, according to David Clark, chairman of the Wholesale Markets Brokers' Association (WMBA).
SEB to launch multi-manager currency fund
STOCKHOLM – SEB plans to launch an actively managed multi-manager currency fund in Q1 2008, in response to institutional client demand.
BoA realigns under GRCC umbrella
NEW YORK – Bank of America has realigned its currencies business alongside global rates and commodities, within a new global rates, currencies and commodities (GRCC) function, the bank has confirmed.
Safeguarding against carry correction
It would be prudent to protect profits from a potential correction of recent carry trade trends, says Ian Stannard , Senior Currency Strategist at BNP Paribas in London
RBS's subprime prediction pays off
Royal Bank of Scotland (RBS) topped the one-month currency forecast tables this week, by predicting the US subprime mortgage market would lead a sell-off in credit markets.
Lehman appoints risk head
LONDON – Lehman Brothers has appointed Jason Tilroe as global head of its risk solutions group. Tilroe will be based in London and report to Larry Wieseneck, head of global finance.
CME to launch on Swapstream
The Chicago Mercantile Exchange (CME) plans to launch a centrally cleared interest rate swap product on its electronic swaps platform Swapstream, from the first quarter of 2008.
