Trading
CIBC hires Tan from WestLB in Hong Kong
Soo Chin Tan joins Canadian bank to focus on growth market currencies in Asia
Japan’s new leverage limit will hurt carry trade, says Glenn Stevens
Japan FSA's 25:1 leverage limit implemented on August 1 could kill the popularity of the carry trade for retail investors, says Gain Capital's chief executive
Spotlight on: Glenn Stevens, Gain Capital
The retail broker’s chief executive talks to Farah Khalique about the changing nature of retail foreign exchange, the advent of tighter leverage limits in the US and Japan, and Gain Capital’s recent acquisition of dbFX from Deutsche Bank
Trading volumes soar in July, report EBS, Reuters and FXall
High volatility in FX markets as a result of eurozone sovereign debt issues and the US debt problems have resulted in record volumes, platforms report
Best liquidity distribution system: Saxo Bank
Saxo wins liquidity distribution award after adopting a prudent approach to sourcing the best liquidity for its white-label offering
State Street buys into Digital Vega
State Street stake comes weeks after Deutsche Börse bought a minority stake
Thomson Reuters launches CNH swap trading on Matching
First CNH swaps on Thomson Reuters Matching were traded on July 25 by two undisclosed banks, vendor reveals
Trading Places, August 1, 2011
CLS appoints CTO, SG CIB loses its head of institutional FX sales
Wilson-Taylor departs e-commerce role at UBS
Swiss bank loses its US-based head of e-commerce, an ex-State Street e-FX pioneer
Best retail platform: Citi
Citi wins top spot in retail category, in recognition of the success and growth of CitiFX Pro since its launch in 2008
Saxo takes stake in Leverate
UK-based Leverate will retain its independence but benefit from Saxo's capabilities
Questions raised over UK’s FX volume surge
Market participants attribute a range of factors to the 23% rise in FX turnover in the UK reported by the Bank of England's FX Joint Standing Committee on July 25
FX Week USA 2011: Delegates talk strategy
Farah Khalique talks to delegates and presenters at FX Week USA about the trends driving currency markets in 2011
Greece’s second bailout met with relief
Traders and strategists believe latest rescue package is a positive development, but expect further pain ahead as it is implemented
CNH deliverable forwards in Hong Kong could outgrow NDFs
Rising offshore renminbi interbank rates in Hong Kong have made its deliverable forwards market the cheapest way for corporates to hedge, compared with NDFs and onshore forwards, say bankers
Iranian public votes to switch currency name from rial to parsi
Early indicators from a survey on currency reform show Iranian public favours a change in the Iranian currency's name and denomination, senior official tells Central Banking, FX Week's sister publication
Credit Suisse recruits Amanti to run FX structuring in Asia
Amanti joined Swiss bank in Singapore earlier this month after leaving Barclays Capital
Société Générale to provide options liquidity to FX Bridge
French bank is integrating systems with US-based vendor’s ProTrader Plus platform
FX Week USA: Prime brokers braced for change under mandatory clearing regime
FX prime-brokerage heads at BAML and UBS confirm their intention to ease operational challenges for clients under new regulations by offering a single point of entry both for cleared and non-cleared trades
FX Week USA: Regulation both good and bad for the end-investor
Panellists agree mandated use of CCPs and exchanges could attract investors but will also raise costs
FX Week USA: Niche services rather than volume set to dominate FX
Conference speakers discuss the changing nature of the foreign exchange market, and agree successful providers in future are likely to be those that can offer a range of niche services rather than those with the highest volumes
FX Week USA: Recovery has taken a nose dive, IMF warns
Monetary and capital markets deputy director Christopher Towe tells conference delegates that ongoing vulnerabilities could sow the seeds of the next crisis
Multibank options platforms proliferate
Alpari’s Daniel Skowronski admits sourcing liquidity has been a challenge since the firm’s options trading platform went live in March
DTCC, Swift reveal details of repository plans
Swift will provide its existing FX derivatives messaging traffic while DTCC will leverage its expertise in the provision of repository services, the two firms have told FX Week