Trading
Dodd-Frank passes but leaves questions unanswered
Financial reform legislation passes in the US Senate, as focus turns to the complex issue of implementation
CBA gains Plesser in senior sales hire
NEW YORK – Commonwealth Bank of Australia (CBA) has appointed Paul Plesser from HSBC as its new head of foreign exchange sales for the Americas in New York, confirmed a spokesperson.
Exshaw signs up former colleague
NEW YORK - Christian Exshaw, head of distribution and global derivatives at CIBC, has recruited former Dresdner and Deutsche Bank colleague Ricardo Zulliger in New York.
Short volatility up in June
LONDON - Currency managers going short volatility would have been top performers in June, benefiting from European market stress, indicates research from Royal Bank of Scotland (RBS).
BAML launches global liquidity platform
CHARLOTTE, N.C - Bank of America Merrill Lynch (BAML) is reacting to client demand for a centralised view of liquidity by launching a platform to improve the delivery of its global liquidity product offering.
Gain responds to NFA complaint
BEDMINSTER, NJ - Glenn Stevens, chief executive at New York-based Gain Capital, sent a letter to partners in response to extensive complaints filed against him and the company by US industry regulator the National Futures Association (NFA).
Retail brokers build up product range amid regulatory change
SYDNEY & TOKYO - Retail trading companies are diversifying the range of products tradable via contracts-for-difference (CFDs) as regulators continue to crack down on retail forex margin trading globally.
BIS: Output loss not due to currency collapse
BASEL – Amid speculation from some corners of the market that the euro could collapse, the Bank for International Settlements (BIS) published its most recent paper, 'Chronicle of currency collapse: Re-examining the effects on output' on July 6. The paper…
BlackTree live on dbSelect
LONDON - BlackTree Investments, a London-based currency manager founded by an ex-Lehman Brothers fixed-income team, has gone live on Deutsche Bank’s multi-manager managed account platform, dbSelect.
StreamBase Partners with MarketFactory
NEW YORK - StreamBase has partnered with algorithmic FX trading applications vendor MarketFactory to enable hedge funds, banks and proprietary trading firms to speed their ‘time to first trade’ in the spot foreign exchange market.
Banks show demand for strategists
LONDON & NEW YORK - Banks are boosting their foreign exchange research coverage, with prominent senior hires announced last week at Deutsche Bank and Société Générale.
The challenges of CVA
The onset of the financial crisis spurred banks to charge for counterparty credit risk in their forex dealings. But how to do that is proving theoretically and practically challenging. By John Ferry
UniCredit gets Mohr from Commerzbank
MUNICH – UniCredit has boosted its coverage in Germany with the hire of Martin Mohr in Munich as head of institutional FX sales for Germany.
Spot activity levels up year-on-year in June
LONDON - Electronic brokers reported a marginal rise in trading activity in June versus the same period last year.
Citi builds out European FX sales
LONDON & PARIS - Citi is increasing its coverage of European clients with hires in Paris, London and Milan.
RBS loses two in sales
LONDON & FRANKFURT - Royal Bank of Scotland (RBS) has lost two members of its sales team in London and Frankfurt, according to market sources.
GFT: US dollar set for a fall
GFT topped the one-month currency forecast rankings this week with expectations for the European debt crisis to supersede US fiscal shortcomings as a driver of US dollar moves.
Trading Places, July 12, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
BarCap loses two in vanilla options
LONDON – Barclays Capital (BarCap) has lost two from its vanilla options team in London, the UK bank confirmed.
Questions raised about CCP collateral
Bank collateral managers raise concern about wrong-way risk in clearing house collateral
China's yuan de-pegging: implications for Asia and the world
Callum Henderson, global head of FX strategy and Thomas Harr, senior FX strategist, at Standard Chartered in Singapore, predict the effects of China's yuan de-pegging on Asian currencies
Skowronski takes the lead at Alpari
LONDON & NEW YORK – Daniel Skowronski has joined the executive management team of Alpari, a provider of online FX trading services
CME posts record June FX volumes
CME posted record average daily FX volumes in its lastest monthly figures