Trading
JP Morgan and StanChart in senior forex shakeup
LONDON & NEW YORK – JP Morgan and Standard Chartered have embarked on a series of senior-level management changes.
Weak greenback benefits RBC
Broad US dollar weakness helped RBC Capital Markets top the three-month currency forecast rankings this week.
US banks' downward trend continues
NEW YORK – US investment banks are continuing to experience a poor year, with second-quarter results for fixed-income businesses down on the same period last year.
High volatility sparks surge in FX trading
LONDON & CHICAGO – High volatility at the beginning of the month saw strong FX trading flows transacted across major trading venues.
Saxo Bank expands London sales force
LONDON – Saxo Bank has strengthened its London sales and marketing teams with four new hires, as it continues to expand its presence in the city as part of a global strategy.
An unseasonal game of musical chairs
As we enter the summer months the unseasonal slew of hiring and restructuring looks unlikely to abate. Considering these functions are usually done and dusted by May, it is curious that a number of banks are just trying to begin new ideas at this point…
UniCredit continues recruitment drive
UniCredit has made further additions to its global FX team, making hires from three rival banks. It has confirmed that Mark Sweeting will begin a new role as head of real-money sales for the UK and US in September.
JP Morgan and StanChart in senior forex shakeup
LONDON & NEW YORK – JP Morgan and Standard Chartered have embarked on a series of senior-level management changes.
Best to return to State Street from JP Morgan
NEW YORK – Stephen Best, former global head of e-commerce at JP Morgan in New York, is due to resurface at State Street, the bank has confirmed.
Shock departures at Icap
NEW YORK – Interdealer broker Icap has witnessed the resignation of three senior members of the former EBS team, shortly after the departure of former chief executive Jack Jeffery.
BarCap poaches Tokyo team from JP Morgan
TOKYO – Barclays Capital has poached four FX sales staff from JP Morgan in Tokyo, as part of an effort to expand its coverage of the Japanese market.
GSAM jumps on Hotspot FX bandwagon
JERSEY CITY – Goldman Sachs Asset Management (GSAM) is understood to have signed on for electronic communication network (ECN) Hotspot FX, sources have told FX Week .
SEB introduces worldwide senior management changes
LONDON, STOCKHOLM & NEW YORK – Skandinaviska Enskilda Banken (SEB) has undergone a reshuffle of senior FX management.
Citi forex teams in London and Paris suffer losses
LONDON & PARIS – Citi has suffered two losses at its FX trading and sales teams in London, and is believed to have lost a third man in Paris.
FX and DX: volatility events and the bid-ask spread
Charles Wright suggests a rational means for adjusting the bid-ask spread to compensate for the uncertainty associated with routine event-driven conditions
Landsbanki selects SuperDerivatives
REYKJAVIK – Iceland's Landsbanki has gone live with SuperDerivatives' multi-asset class price discovery platform, signalling the move towards multi-asset class sales by banks.
FXMarketSpace's advantage is eroded
FXMarketSpace has released its second set of volume figures, showing the platform is growing steadily.
Maybank launch targets retail clients
KUALA LUMPUR – Malaysian bank Maybank last week launched G10FX CG, currency-linked investment products aimed at retail clients.
Reuters upgrades RTFX service
LONDON – Reuters has gone live with a revamped version of Reuters Trading for Foreign Exchange (RTFX), its bank-to-client FX trading service.
BoA names head of forex Americas
NEW YORK – Bank of America (BoA) has promoted Herbert Perez to head of global FX for the Americas and global head of spot and emerging market currency trading, based in New York.
The rise of the vol product
To get pure exposure to the new asset class, Philippe Lintern , head of FX Complex Products at The Royal Bank Of Scotland in London, proposes volatility products
Saxo's short-term yen view pays out
Saxo Bank's weak short-term view on the Japanese currency has helped the bank beat rivals UBS, GFT and Citi in FX Week 's one-month currency rankings.
FXMarketSpace volumes continue to rise
LONDON – Average daily trading volumes on FXMarketSpace rose 54% in May, indicating steady growth over the platform, say analysts.
UK comfortably leads the forex pack, report finds
LONDON – The UK continues to dwarf the US and Japan in its global share of FX transactions, according to a report by UK financial services promoter International Financial Services London (IFSL).