Societe Generale
Spotlight on: Max Smith, Newedge
In a world where market participants are seeking to reduce risk in trading and ensure efficient clearing, Newedge's global head of FX, Max Smith, believes the firm is uniquely positioned
Increased risk appetite causes spike in relative value FX trades
Investors are turning to relative value trades to provide low-premium, guaranteed downside and good leverage to the upside, traders say
Jefferies hires e-FX sales head
Former head of e-FX sales for the Americas joined Jefferies in New York last week to build out its e-FX business
Traders braced for further yen weakness ahead of BoJ meeting
Many market participants were caught unawares by the sharpness of the yen's fall in recent weeks, but all eyes will be on the currency's reaction to this week's Bank of Japan meeting
Trading places, January 7, 2013
New hires at Commerzbank, SG CIB, C-View and Progress Software
Review of 2012: July - September
FX Week looks back on the biggest stories of 2012, continuing with the third quarter. To read the original stories, click on the links in black
Review of 2012: January – March
FX Week looks back on the biggest stories of 2012, starting with the first quarter. To read the original stories, click on the links in black
Advanced Markets expands in institutional FX sales
Karma Tenzing joins Advanced Markets to work in FX sales, just months after the vendor entered into the FX market in September
Aussie dollar remains strong after RBA rate cut
The Australian dollar rallied after the RBA rate cut on Tuesday and strategists expect interest rates to remain at 3% for the next six months, supporting further strength
Agency execution model gains favour for FX trading
Under pressure from new regulations that will constrain balance sheet usage, the agency model is becoming increasingly popular with banks, but agency desks won't escape forthcoming hikes in cost
Aussie forecasts revised after RBA decision to hold rates
Strategists have revised upwards their expectations for the Australian dollar after last week's RBA decision, but some expect further weakness next year
Trading places, October 29, 2012
New hires in FX sales at Crédit Agricole and Commonwealth Bank of Australia
Dealers hope for replication of BoE move to two-way CSAs
As the Bank of England prepares to begin posting collateral to its counterparties when trading derivatives next year, FX traders hope other central banks will follow its lead
360T hires Asia sales head from Commerz
Commerzbank's head of e-FX sales for Asia joined 360T in Singapore earlier this month
FXall’s Woolcock to join Eurobase
David Woolcock, who resigned from FXall this week after almost nine years, will join technology vendor Eurobase next month
Ex-SocGen head trader joins Infinium
Richard Bailey, SG CIB's former head of global FX trading has joined Infinium Capital Management as head of FX options trading
Swiss franc expected to retrace its fall as ECB news sinks in
The euro rallied against the Swiss franc for the first time in six months after yesterday’s announcement of new measures from the ECB, but FX strategists expect it to fall back towards 1.20
SG CIB expands in FX sales with string of hires
Société Générale CIB has made four appointments to its FX sales team in London, while ex-FXall Keith Hill has joined the bank this week to head e-FX
Stressed VAR will hit FX options, dealers warn
Certain forex options and exotics penalised by Basel 2.5, including emerging market currencies and double no-touches
SG CIB hires buy-side trader
Simon Shooter joins Société Générale Corporate and Investment Banking today to work in FX sales to hedge funds
Achievement award: Gil Mandelzis
Traiana’s co-founder and former chief executive wins the 2012 e-FX achievement award in recognition of his lasting contribution to the development of the industry over the past 12 years
Molten Markets expands with senior hires
Rich Wenzel and Peter Frucht have joined Molten Markets as the firm pushes forward with its new FX ECN
Tail risk cheap, but few takers
Market dislocation has created attractive tail risk hedging opportunities, but demand is failing to take off, writes Joti Mangat
FX sales veteran moves to recruitment
Mike Burton, SG CIB's former head of FX sales, has joined ex-colleague Canice Hogan at recruitment firm Shadowhound