Citi
Wade's in at Deutsche Bank
NEW YORK - Deutsche Bank has boosted its electronic foreign exchange sales effort to corporate clients with a key hire from Citi.
Citi hires Margolis from Goldman Sachs
LONDON – Citi has hired Adam Margolis from Goldman Sachs to its foreign exchange sales team in London, according to market sources
Regulatory uncertainty hits US banks’ Q2 results
NEW YORK - Most US banks reported a slump in forex revenues in the second quarter this year versus last year, citing a drop in risk appetite and liquidity amid concerns over regulatory changes and the European debt crisis.
CitiFX Pro to launch in Singapore
SINGAPORE & LONDON - CitiFX Pro, Citi’s margin foreign exchange trading platform, will launch in Singapore soon, targeting small institutional clients, said Kevin Wilson, director of margin FX trading for Citi's institutional clients group in New York.
Trading Places, July 26, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Nomura becomes settlement member of CLS
LONDON - Nomura has gone live as a CLS settlement member and shareholder as of July 12, having previously used third-party settlement services from Citi, the bank announced on July 19.
Power to the high-frequency traders
Speakers at the FX Week USA congress held in New York last Tuesday (July 13) were resoundingly supportive of the role high-frequency traders (HFT) have had in ensuring liquidity in the market.
End-users support central clearing
NEW YORK - The push for central clearing is increasingly being driven by end-users seeking operational efficiencies, rather than regulators, according to Jason Vitale, global head of dbClear FX at Deutsche Bank in New York.
Trading Places, July 19, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Portware eyes streaming liquidity, TCA in FX upgrade
NEW YORK - Execution management system (EMS) vendor Portware has targeted liquidity management, extended algorithmic execution and transaction cost analysis (TCA) with version 5.0 of its Portware FX trading platform, released on July 13.
The challenges of CVA
The onset of the financial crisis spurred banks to charge for counterparty credit risk in their forex dealings. But how to do that is proving theoretically and practically challenging. By John Ferry
Citi builds out European FX sales
LONDON & PARIS - Citi is increasing its coverage of European clients with hires in Paris, London and Milan.
Trading Places, July 5, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Trading Places, June 28, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Trading Places, June 21, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Coup for Morgan Stanley
NEW YORK - Eric Hirschhorn, formerly global head of technology at Citi in New York, has quit the bank to join US rival Morgan Stanley, sources tell FX Week.
SGX signs 14 banks for derivatives clearing
SINGAPORE - The Singapore Exchange (SGX-DC) has signed up 14 banks and three financial institutions for its Asian forex forwards and interest rates swaps clearing initiative, due for launch in the fourth quarter.
Trading Places, June 14, 2010
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FX industry creates lobby group
BRUSSELS - The Association for Financial Markets in Europe (AFME) is establishing a representative group for foreign exchange participants, amid the threat of increased forex regulation.
Gaitame.com chooses Integral for liquidity aggregation
Tokyo-based retail trading company Gaitame.com has replaced its single-bank platform with a software-as-a-service liquidity aggregation system developed by Integral, to improve pricing and risk management.
Trading Places, June 7, 2010
Read this week's Trading Places to catch up on people hires and departures across the FX world.
BarCap beefs up in the US, but loses in Europe
NEW YORK - Barclays Capital has boosted its sales coverage in the US with the hires of Mike Testa, Marlena Demenus, James White and David Weiss in New York and San Francisco.
Beriot in shock move to Citi from SocGen
LONDON & NEW YORK - Citi has made a key hire from Société Générale in institutional sales, a week after the departure of Jan Bak, head of non-UK European institutional sales in London.