Foreign exchange
BarCap losses trickle on
LONDON & SINGAPORE - Barclays Capital (BarCap) has lost two more staff, following the mass exodus at the end of April.
Nomura wins three in global sales
LONDON & NEW YORK - Now the bonus rounds are over, the hunting season has begun. Nomura is reported to have hired sales staff from Barclays Capital in London and UBS in New York.
Trading Places, May 3, 2010
Find out about the movers and shakers in the FX world.
US forex back on form in first quarter
NEW YORK & BOSTON - Most US banks reported strong forex revenues in the first quarter this year versus last year, as the global markets start to recover.
Gain Capital: outer eurozone will drag euro down
Gain Capital topped the three-month currency forecast rankings with a bearish stance on the euro, having predicted the Greek debt crisis would spread to neighbouring economies.
Credit Suisse rebuilds spot in NY
Swiss dealer adds senior trader
RBS loses Usher but gains Gething
LONDON – Royal Bank of Scotland has lost Richard Usher, London chief dealer and EUR/USD spot trader, in a further senior departure from the bank.
Deutsche fined for Hungarian FX swaps
BUDAPEST - Deutsche Bank has been fined $455,441 by the Hungarian regulatory authorities for manipulating the forint to profit from foreign exchange swaps trades entered with local banks.
Euro loses as markets play it safe
Greece continues to dominate the headlines. However, the contagion effect to other eurozone peripherals as well as concerns over Chinese monetary tightening and proposed financial regulatory reforms have been driving financial markets recently –…
Singapore Exchange moves into clearing
SINGAPORE - The Singapore Exchange (SGX-DC) became the latest to pitch clearing for foreign exchange products last week, with a proposal to clear financial derivatives, including Asian FX forwards contracts settled in US dollars.
Banks widen scope of IT budgets
Speakers at the FX Week webinar, FX technology arms race: the battle for market share, last Tuesday (April 20) covered a wide range of issues facing the industry post-crisis, including regulation, customers' increased demands and post-trade processing.
Szucs and Shiff join BAML
LONDON - Bank of America Merrill Lynch (BAML) continues to build up its foreign exchange franchise with the hire of a senior institutional salesperson from Morgan Stanley in London.
TD Securities brings in Goodacre
LONDON - TD Securities has hired Paul Goodacre as its London head of foreign exchange options, according to market sources.
Mass exodus from BarCap in New York
NEW YORK - Barclay Capital (BarCap) continues to haemorrhage forex sales staff as below-average compensation makes the bank’s employees prime recruitment targets, according to market sources.
Trading Places, April 26, 2010
This week's people moves across Europe, Asia and the US.
Lloyds TSB: USD will win G-3 currency race
Lloyds TSB has topped the three-month currency forecast rankings this week by maintaining its dollar-bullish stance, according to Trevor Williams, chief economist at the bank in London.
What the global power shift means for FX
A reoccurring theme prevailing among the buy side is the implications of a shift in power from the developed markets to the emerging economies.
Sterling staid but skewed
The most likely outcome for sterling is a modest appreciation from current levels, reflecting an ongoing recovery in the UK economy and the likelihood of Bank of England tightening into the end of 2010.
DGCX adds three currency futures
DUBAI - The Dubai Gold and Commodities Exchange (DGCX) will launch three additional currency futures contracts in June, to take advantage of the growth momentum in incumbent products.
Russia targets CLS inclusion by 2015
Settlement risk in Russia's ruble is preventing the currency realising its global ambitions
Saxo preps for slowing global growth
Saxo Bank has topped this week's three-month currency forecast and the 12-month year-to-date index by focusing on scenario analysis.
The UK election: Lessons from the past
Pete Luxton, economic adviser at Informa Global Markets in London, looks at past UK elections in an effort to predict the upcoming May 6 election's impact on the sterling
Renminbi rhetoric hits new high
Mounting speculation about the imminent revaluation of the renminbi sparked a rise in volatility last week, with renminbi non-deliverable forwards (NDFs) reaching their highest rates since 2008.