UBS
UBS FX derivatives COO departs
UBS replaces departed New York FX derivatives COO with Vasco Nunes at its HQ in Zurich
Banks create specialist teams in surveillance "over-reaction"
Banks have tightened their electronic surveillance measures for chatrooms, in a move traders say is creating fear and uncertainty
Manipulation suspensions reach salespeople
UBS and Deutsche have implemented further suspensions, with the German bank seeing the first salesperson suspended in the ongoing FX probe
Credit Suisse a named defendant in FX antitrust law suit
Credit Suisse is one of 11 named defendants in a US class-action lawsuit that alleges a breach of antitrust laws, but says it hadn't been part of Weko's preliminary investigation and is astonished to be named as part of probe
Lab49 unveils platform partnership with UBS
Technology consultancy has been working with UBS on its Neo platform since 2010, the firm reveals today
Fixation on internalisation is ‘nonsense’, say banks
Banks respond to increasing industry focus on internalisation of FX trades, arguing the practice offers better execution for clients than trading on primary platforms
Virtu's IPO: the $100 million question
Alessandro Pasetti writes about investment strategy and assets valuation for banking clients mainly based in London and Europe. He previously worked for Dow Jones/The Wall Street Journal doing M&A research for the IB community. He has worked in equity…
Commercial banks set to dominate FX trading yet again
The FX market is heading back to the 1990s as smaller, regional banks make a comeback and take back ground from investment banks
Three-quarters of FX volumes now executed electronically, say Greenwich Associates
Deutsche Bank, UBS, Citi and Barclays now collectively handle almost half of overall global flows as electronic execution in G-10 hits 79% and 56% in emerging markets currencies
ANZ bolsters e-FX team with two senior hires
Davies to head e-FX sales based in Singapore, while Malin will be head of European and US e-FX sales in London
Scott & Scott takes lead in FX manipulation battle
US law firm Scott & Scott will be in charge of co-ordinating a FX class action lawsuit spanning the globe
Deutsche Bank traders let go as part of fix probe
FX regulatory probe heats up as four traders lose their jobs at Deutsche Bank
UBS expands Purves eFX role to include rates and credit
Chris Purves now global head of FX, rates and credit, reporting to Chris Murphy
Morgan Stanley veteran joins SG CIB in sales
Matt Miller moves to the French bank in New York, having been most recently at UBS after 23 years at Morgan Stanley
BAML hires Asia FX trader in London
Andrew Young started at Bank of America Merill Lynch this week, reporting to Gavin Cook
Perspectives on 2014: David Tait, Credit Suisse
By integrating FX, rates and commodities under a single umbrella, global macro products, Credit Suisse hopes to embed a radical change of culture that will cater more directly to the cross-asset needs of its clients, says business co-head David Tait
BNP Paribas hires senior FX trader from Commerz
Kevin Wilson joins the French bank in New York; other personnel changes at ACT Currency Partner and UBS Global Asset Management
UBS merges FX, rates and credit under new co-heads
George Athanasopoulos and Chris Murphy to head the new business, while Chris Vogelgesang leaves the role of co-head of FX and precious metals
FXSpotStream adds precious metals
Spot aggregation service adds precious metals, with prices streamed from liquidity providers through the same single connection
Swiss franc floor will remain in place, says UBS FX chief
George Athanasopoulos shares currency predictions for 2014, including an expectation the Swiss National Bank will maintain the 1.20 floor on EUR/CHF
US pension fund sues seven dealers over FX benchmark rigging
Massachusetts-based pension fund Haverhill Retirement System is suing seven FX dealers for manipulation of the WM/Reuters benchmark rates
ACT hires UBS's Meyer to run structured products venture
ACT Currency Partner continues its expansion with the launch of an FX structured products offering, managed by a veteran of UBS
FX benchmark probe gathers pace as chief dealers placed on leave
Senior spot traders at JP Morgan, Citi and Standard Chartered have all been placed on leave, while Barclays, Deutsche Bank and UBS confirm they are conducting internal reviews in connection with alleged manipulation of FX benchmarks
Banks eye new protocol to streamline platform connectivity
A working group backed by seven banks is looking to create an automated protocol to streamline the process by which clients connect to FX trading platforms