News/Wholesale
RBS hires in prime brokerage from BarCap
STAMFORD, CT - Royal Bank of Scotland is expanding the Americas coverage of its prime-brokerage business with the hire of Matthew Shuman to its fixed-income, currencies and commodities (FICC) prime brokerage team.
Interdealer brokers get boost from FX
LONDON - BGC Partners saw a 54.6% rise in foreign exchange revenues in the second quarter, due to a continuing rebound in global volumes, the broker reported last Thursday (August 5).
RBS adds in e-sales
STAMFORD, CT – Royal Bank of Scotland (RBS) is increasing coverage of electronic sales to financial institutions with a hire from Barclays Capital in the US.
Crisis a boon to spot brokers, volumes up 60%
LONDON - Electronic spot-broking systems EBS Spot and Thomson Reuters saw a 60-65% surge in average daily volumes in May, reflecting a return to traditional liquidity sources during times of crisis.
Euro to continue decline
LONDON – Analysts are predicting further euro weakness, expecting the unit to return to 1.2135, with the short covering correction be short-lived.
UBS FICC revenues up in Q1
ZURICH – UBS experienced improving data from its fixed income, currencies and commodities (FICC) business in the first quarter, largely benefiting from a turnaround in the credit business.
Deutsche fined for Hungarian FX swaps
BUDAPEST - Deutsche Bank has been fined $455,441 by the Hungarian regulatory authorities for manipulating the forint to profit from foreign exchange swaps trades entered with local banks.
HSBC fails to repeat 2008 performance in FX
FX Week peers under the bonnet at earnings statements this past week from HSBC and Standard Chartered.
BarCap eyes number one spot in FX
UK dealer outlines 2010 ambitions
Forex revenues down at Deutsche
Fourth-quarter results slump on exceptional activity in previous year
Operational efficiency pays off for UBS
Z/Yen releases survey results for 2009
Banks pull out of PRDC market
Dealers exit as hedging costs surge
Gain Capital launches FX ECN
Retail broker sets sights on institutional market
Société Générale strengthens Japan FX business team
French dealer continues global build
Indian banks sign up for FX forwards central clearing
CCIL forwards clearing initiative sees slow take-up
Belvisi takes structuring role at BoA ML
Bank of America ML makes key hire in FX structuring
FXall realigns with LavaFX acquisition
FXall outlines ambitions following LavaFX acquisition