Risk management
SEC risk chief to step down
First head of regulator's risk division will return to academia in January
In Brief, November 8, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Garwood returns to sell-side
LONDON - Lloyds TSB has hired UBS veteran Rob Garwood as its new head of global FX sales to strengthen its UK sales team in London.
Forex volumes up in September
LONDON & CHICAGO - Electronic brokers reported a year-on-year rise in trading volumes in September, reflecting a renewed appetite for risk.
SuperDerivatives releases SDX
LONDON - SuperDerivatives is migrating customers to its new multi-asset front-office system, SDX, on October 10, David Gershon, chief operating officer at SuperDerivatives in London has told FX Week.
Citi opens China desks overseas as companies expand
Citi has opened hedging desks in Johannesburg, London, Sao Paolo and New York to help Chinese multinationals with hedging, cash management, trade and treasury services, and lending activities.
GFI Fenics in end-to-end FX options automation
GFI Group aims to transform the electronic FX options business by automating the entire workflow process of pricing, risk management, bilateral trading, structuring and sales, through version 12.1 of Fenics Professional.
Corinne Neale joins Credit Suisse for Asia foreign exchange client risk advisory
Credit Suisse has added to its Asia foreign exchange risk advisory in line with the bank's strategy to expand forex business in Asia
Dealers target hedging activity in the Philippines
MANILA – While authorities in the West increase derivatives regulation, the Bangko Sentral ng Pilipinas has liberalised rules governing both hedging and yield enhancement markets in the past few years. Despite the challenges of penetrating a market…
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
Tullett Prebon builds on OTC product transparency
LONDON - Tullett Prebon opened sales and client services offices in London and New York for its technology-driven price verification services, OTC Valuations, last week.
Malaysia liberalisation sparks ringgit rise
KUALA LUMPUR - The Malaysian ringgit reached 13-year highs against the dollar last Thursday, as officials relaxed currency controls on corporate hedging and international trade settlement on August 18.
Interdealer brokers get boost from FX
LONDON - BGC Partners saw a 54.6% rise in foreign exchange revenues in the second quarter, due to a continuing rebound in global volumes, the broker reported last Thursday (August 5).
EBS Spot debuts fixing orders
LONDON - EBS will add fixing orders to the drop-down menu in its quote panel for banks only at the end of August, Rob Parr, senior sales manager for Europe, the Middle East and Africa and North America at Icap has told FX Week.
Lufthansa wary of OTC regulations
Corporates across the globe have lobbied to ensure end-users are not subjected to new clearing requirements for derivatives. For Lufthansa’s treasury department in Frankfurt, ensuring it is able to continue to hedge its foreign exchange and interest rate…
CBA revamps FX business with Wall Street Systems
Commonwealth Bank of Australia (CBA) has selected Wall Street Systems to provide a full front-to-back multi-entity risk management system for its foreign exchange and money markets businesses globally.
EU regulation will force insurers to up FX hedging programmes
BRUSSELS - The EU’s current proposals for risk-based insurance regulation – referred to as Solvency II - will result in firms based in countries with shallow domestic bond markets ramping up up their FX hedging programmes, according to Lars Oswald Dahl,…
Sifma members lose confidence in risk capabilities
A declining number, falling below 5%, of Sifma member firms are comfortable with their risk management capabilities, according to an updated survey of 240 Wall Street participants conducted by IBM, issued at the Sifma Financial Services Technology Expo…
Prime brokers switch on to SAS 70 checks
Prime brokers have focused on bolstering asset security for clients after billions of dollars of client assets were caught up in the administration of Lehman Brothers International (Europe) (LBIE).
Morgan Stanley tempts two from JP Morgan
Morgan Stanley continues its hiring spree.
Fragile markets ahead
Gareth Berry, FX strategist at UBS in Singapore, looks at the impact of the Dubai’s request for a debt standstill