Proprietary trading
US banks at a disadvantage in face of Volcker rule
Non-US banks will have an advantage over US counterparts when it comes to prop trading, according to one legal expert
UGS signs Kiwi start-up as first client
Start-up currency firm ForexAtom deploys Unified Global Solutions' new Adaptware platform
Merchant Capital offers alternative for FX prop traders
Merchant Capital, a UK-based provider of asset management and advisory services, is courting foreign exchange traders departing global banks to establish their own enterprises, according to a senior official at the firm.
Volcker rule could interfere with bank hedging
Dealers in the US could find their market-making and hedging freedom curtailed by a proposed ban on proprietary trading, if the final rules mirror an ambitious study published on Tuesday (January 18) by the Financial Stability Oversight Council (FSOC)…
Savi Asset Management launches in October
LONDON - Proprietary trading company Savi Trading (Savi) will launch a managed account service for FX and equity traders in October under the banner Savi Asset Management (SAM).
RBC deploys Progress Apama
LONDON – RBC Capital Markets has deployed Progress Apama's FX Aggregation system to support its FX dealing operations, the vendor announced last week (September 8).
CME to launch e-micro gold contracts
CHICAGO - CME Group plans to launch e-micro gold futures on its electronic trading platform CME Globex on October 3, for a trade date of October 4, in response to growing demand for smaller contracts.
JP Morgan slashes commodities desks
Fate of other prop desks unclear ahead of enactment of Volcker Rule
UK FSA revisits trading regulation in comprehensive review
Financial Services Authority identifies valuation, capital framework coherence and risk management as key problem areas; issues 15 recommendations to revitalise standards
Interview with Udi Sela of SuperDerivatives
FX Week's Farah Khalique asks Udi Sela about the impact of increased regulation on foreign exchange traders
Dodd-Frank prop desk carve-out creates potential restructuring risks
Intellectual property and internal talent could get caught up in bank prop desk divorce
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.
Morgan Stanley: Prioritising FXPB
Competition in the foreign exchange prime brokerage market remains competitive, as new businesses fill the vacuum left by the withdrawal of incumbent providers and clients spread counterparty risk following the 2008 credit crisis.
Credit Suisse seeks trading chief
Delelis heads to buy-side
A response to Obama's reform plan
Details are being eagerly awaited for US President Barack Obama's banking reform plans announced last week – chiefly, what they mean for the new prop desks that have set up, and for prime brokerage relationships.
New firm Savi targets home traders
LONDON - Former Bank of America spot trader Sachin Shah has founded his own proprietary trading company, Savi Trading, to target the thriving retail foreign exchange market.
Prop traders continue shift to independents
The flow of proprietary foreign exchange traders to independent prop trading houses shows no sign of abating, as uncertainty over remuneration and reduced risk appetite continue to plague global banks.