Foreign exchange
Dresdner rebuilds global forex business
LONDON, FRANKFURT & SINGAPORE – Dresdner Kleinwort has rebuilt its foreign exchange business, with 13 new hires.
Forefront Investments faces suit from CFTC
WASHINGTON DC – The US Commodity Futures Trading Commission (CFTC) has filed a complaint against Richmond, Virginia-based futures broker Forefront Investments, for failing to hold adequate net capital.
Voting for e-FX Awards is underway
The starting pistol for this year's e-FX Awards has been fired, with companies invited to submit their pitches in the 13 categories.
The need for speed in algorithmic trading
LONDON – By 2017, the 10 top banks will manage 80% of all capital markets by revenue, according to Ralph Silva, senior analyst from Tower Group.
HSBC reshuffles in Asia
HONG KONG, JAKARTA & MUMBAI – HSBC has realigned senior management in Asia, as it bolsters its coverage of the Indian market.
Retail FX platform attracts $100 million from PE firm
SADDLE RIVER, NEW JERSEY – Online trading platform FX Solutions has received more than $100 million from Francisco Partners, a technology-focused private equity investment firm.
JP Morgan loses three, hires one in forex
NEW YORK & SINGAPORE – JP Morgan has lost three members of its FX team in New York and London.
Advanced Markets chooses Cognotec's retail FX solution
CHARLOTTE, N. CAROLINA – Forex broker Advanced Markets is going live with Cognotec's retail FX trading platform, RealStream-Margin this quarter.
Bear Stearns realigns forex, rates and credit
NEW YORK, LONDON & HONG KONG – Bear Stearns has made several strategic hires to drive the consolidation of its global credit, FX and rates business into three major regional trading groups in Europe, Asia and the US.
Steady growth on FXMarketSpace
LONDON, CHICAGO & NEW YORK – Reuters and Chicago Mercantile Exchange joint venture platform FXMarketSpace went live last week, with volumes understood to be growing gradually.
Preparing for a decline in cable
WHAT STRATEGY SHOULD BE ADOPTED AHEAD OF STERLING'S FALL AGAINST THE US DOLLAR? BEN TYLER , ASSOCIATE DIRECTOR, STRUCTURED FX AT LLOYDS TSB CORPORATE MARKETS IN LONDON INVESTIGATES
Panel findings highlight evolving role of buy-side
LONDON – The rise of algorithmic trading indicates that the traditional distinction between the buy- and sell-side is fading, according to a panel discussion held in London last week.
Morgan Stanley adopts multi-asset class approach
NEW YORK & LONDON – Morgan Stanley has restructured its fixed-income and equities businesses to adopt a multi-asset class approach to dealing with clients.
Dresdner loses three in Moscow and Singapore
MOSCOW & SINGAPORE – Dresdner Kleinwort is understood to have lost three members of its FX team in Moscow and Singapore.
Citigroup shakes up Asia forex
SINGAPORE – Citigroup has restructured senior FX management in Asia, as it realigns its business under the new fixed-income, currencies and commodities (FICC) structure.
SmartStream launches TLM Trade Process Management
LONDON & BOSTON – London-based technology vendor SmartStream Technologies last week released a system that automates the transaction lifecycle from execution to settlement.
Bloomberg Tradebook adds forex forwards
NEW YORK & LONDON – Electronic broker Bloomberg Tradebook plans to add FX forwards to its electronic communications network Bloomberg Tradebook FX, in the second quarter.
CME widens footprint and connectivity
CHICAGO – The Chicago Mercantile Exchange (CME) has outlined plans to broaden its global FX footprint and improve international connectivity.
Reuters develops Mifid data solutions
LONDON – Reuters is developing a series of tools aimed at meeting data requirements under Europe's Markets in Financial Instruments Directive (Mifid).
BNP Paribas gains in London, loses in Paris
LONDON & PARIS – BNP Paribas has appointed Peter Snasdell to a senior FX sales role in London.
FXDD launches PowerTrader platform
NEW YORK – Online FX trading company FXDD has partnered with an undisclosed prime broking bank to launch a platform targeting institutional investors. The platform, called PowerTrader, is a white-label product that uses a prime broker to access pricing…
Banks gear up to fight online traders
Last week provided some interesting insight into the insecurities some banks are suffering from vis-à-vis online trading companies.
EBS adds NZ dollar to platform
Interdealer broker Icap is adding the New Zealand dollar to EBS Spot, its spot broking platform, on April 26.
A quick fix for Mifid
Sell-side firms must adopt the FIX protocol or lose out, warns Chris Pickles , chair of the directive's Joint Working Group in London