Trading
Icap attracts 15 counterparties to yuan trading
HONG KONG - Fifteen banks have signed up to trade USD/CNY on electronic broking system EBS Spot within the first week of launch, as the broker prepares to extend yuan trading against the euro, yen, Hong Kong dollar and Swiss franc in coming weeks.
15 minutes with: Stacy Williams, HSBC
Senior quant discusses the high levels of cross-asset correlation across today's markets
Wells Fargo: Commodity currencies power ahead
Wells Fargo topped this week’s one-month currency forecast rankings with expectations for commodity and emerging market currencies to benefit from the US Federal Reserve policy of maintaining high levels of liquidity.
Panellists: Back-office systems integration a must
Speakers at the London SunGard City day held in London agreed the increasingly global nature of clients' requirements calls for more unified and integrated back-office systems
Westpac builds out staff globally
Westpac has made a series of hires in London and New York to better support its clients in the northern hemisphere, said Richard Attrill, the bank's London-based head of FX, commodities, carbon and energy for the UK and Europe.
Trading Places, September 27, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
UBS sources another ex-BarCap talent
UBS is continuing its senior management restructure with the hire of Andrew Kaufmann from Barclays Capital (BarCap) as global head of FX structuring, confirmed an internal bank source.
BAML continues restructure; evolves to meet regulations
NEW YORK - Bank of America Merrill Lynch (BAML) continues to reorganise its business post-merger and ahead of forthcoming regulations, resulting in management changes in FX and the launch of a futures and derivatives clearing service.
Let CCPs compete, Isda conference told
Competing for business will not fatally undermine derivatives clearing – as long as the system is well regulated, speakers claim
DBS outlines ambitions amid competition for Asia business
SINGAPORE - Singapore’s DBS Bank is investing S$250 million into its treasury and markets (T&M) business as part of ambitions to become a leading Asian currency and fixed-income house.
China not likely to relent over yuan
Michael Derks, chief strategist at retail trading company FxPro in London, says US disappointment with the pace of yuan appreciation looks set to continue
Global growth slows and assets shift
The hunt for yield is an increasingly important driver of FX, says Callum Henderson, global head of FX research at Standard Chartered in Singapore
Banks bags top sales job at BNPP
LONDON – Clive Banks has been promoted to the new role of global head of FX and local market sales at BNP Paribas in London, the bank confirmed today (Tuesday 21).
SGX AsiaClear aims to be Asia's CCP for rates and FX swaps
SGX president Muthukrishnan Ramaswami says the new interbank OTC clearing service for Singapore and US dollar interest rate swaps will target Asian banks as a start, and soon global investment banks that trade with Asian counterparties. Asian local…
Service outage hits Barclays Capital's first OTC clearing client
Client clearing glitch highlights the complexity of what is expected to be a major new business.
RBC gets bullish on USD
RBC Capital Markets tops this week’s one-month currency forecast rankings due to a bullish view on the yen.
StanChart takes Solace for FX data messaging
Standard Chartered has rolled out hardware-based messaging vendor Solace Systems’ 3260 message routers, to provide low-latency data distribution between the bank’s offices to support its new global FX trading platform.
Triple hire for Macquarie Private Wealth Asia
Macquarie hires three senior executives to boost its private wealth operation in Asia
Regulation, Fragmentation and Execution Where to Next for High Frequency FX Trading?
Regulation established in the wake of the financial crisis to promote market integration, together with new norms being considered for high-frequency trading in equity markets, may unnecessarily complicate the FX market, says Chip Lowry, chief operating…
4Cast cautious over Australian dollar
4Cast topped this week’s one-month currency forecast rankings by predicting that a risk-averse market would follow the dollar sell-off in July.
OECD warns on global slowdown
G-7 growth set to slow to 1.5% in the second half of the year; chief economist advocates more QE if slowdown does become entrenched
Fixi selects Integral to support expansion into institutional FX
LONDON - Foreign exchange broker Fixi has signed Integral as the technology vendor to support plans to target the institutional FX market, officials say.
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…
IG up despite Japan retail leverage cap
LONDON - IG Group reported a 16% rise in revenues for the third quarter, to £79 million, versus the same period last year, despite new caps on leverage for retail traders in Japan.