Trading
The platforms of 2012: EBS
Icap’s EBS last week announced the latest round of changes designed to strengthen the platform’s resilience and improve the trading environment. Despite rapidly falling volumes, chief executive Gil Mandelzis believes EBS will be well-positioned when…
Who picks up the tab for regulation costs?
Many buy-side firms expect their banks to absorb the costs associated with clearing and reporting of non-deliverable forwards and eventually forex options. But banks have other ideas, with some already quantifying fairly substantial hikes in…
Credit Suisse overhauls single-dealer platform
Credit Suisse Plus, the Swiss bank's new fixed-income platform, will be rolled out to clients over the coming year, says newly appointed head of electronic sales
Spotlight on: Rob Maher, Credit Suisse
Credit Suisse’s global head of fixed-income electronic sales talks to Joel Clark about the changes the Swiss bank has been making to its e-FX business with the development of a new single-dealer portal and the integration of its algorithmic and…
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
SNB's continuing resolve drives creativity among Swissie traders
A year after the Swiss National Bank imposed a 1.20 floor on EUR/CHF to stem the appreciation of the Swiss franc, the minimum rate remains in place, driving traders to seek new ways to trade a currency afflicted by low volatility. Miriam Siers reports
EBS reversal on decimals brings relief among traders
Just 18 months after EBS moved to decimalised pricing on major currency pairs, senior bank traders have expressed relief that Icap will return to full pips and half pips later this month
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
Deutsche creates cross-asset platforms business under Amrolia
Deutsche Bank's Zar Amrolia runs a new business focused on electronic platforms across fixed income, while Kevin Rodgers has stepped up to become global head of FX
EBS ditches decimals as part of platform overhaul
Full-pip and half-pip pricing will return to major currency pairs on EBS from September 17, as platform's new management team recognises flaws in decimalised pricing
All eyes turn towards EBS
EBS is set to unveil the next round of system and policy changes this week, which will be closely scrutinised by newer entrants and competing platforms
The platforms of 2012: Gain GTX
Two-and-a-half years after its launch as a subsidiary of Gain Capital, the GTX platform is gathering steam and now trades average daily volumes of up to $8 billion. In the latest in a series of articles assessing the challenges facing new and existing…
New buy-side platform targets March launch
Start-up venture BuysideFX will focus on improving FX workflow on the buy side and plans to be live with its first client by March 2013, officials have told FX Week
RBC on top with August stagnation forecast
The Canadian bank tops the one-month currency forecast rankings and warns of uncertain forecasting conditions over the next three months
Likelihood of Grexit diminishes ahead of troika review
As European authorities head to Greece to inspect the country's finances, strategists believe it is increasingly unlikely authorities will allow the country to leave the euro
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
Optim Invest launches as BNP Paribas IP exits currency management
D'Hautefort revives Overlay Asset Management as Optim Invest, says demand for currency management buoyant
RMB is gaining traction with corporates, Deutsche survey finds
Smaller companies can realise savings of nearly 5% when dealing with Chinese businesses by transacting in renminbi, says Deutsche Bank
Trading places, August 27, 2012
New appointments at Nomura, Rule Financial and DTCC, while HSBC loses a salesman
The platforms of 2012: Hotspot FX
Knight Capital, the parent company of Hotspot FX, has endured a torrid month following a software glitch on August 1 that cost it $440 million, but Hotspot appears to have weathered the storm. In the second of a series of articles assessing the…
Spotlight on: Drew Niv, FXCM
FXCM’s co-founder and chief executive talks to Robert Mackenzie Smith about the challenges facing the foreign exchange market in 2012, as well as the company’s new initiatives, including the FastMatch platform and the 50% stake it has acquired in Lucid…
CIBC bets on gradual upward curve for US dollar
A set of forecasts based on the view that the US dollar would remain stagnant before rising later this year lands CIBC at the top of the three-month rankings
FXall continues product innovation under new ownership
Following the completion of its acquisition by Thomson Reuters, FXall will continue to operate independently until the integration is complete
ABN Amro hires Duff to build FX clearing business
Dutch bank hires industry veteran to launch clearing business in North America