FX Markets - 10 Oct 2016
Articles in this issue
Lack of regulatory clarity on key issues hampers preparation
Despite booming business, technology vendors find clients struggle to say what they need to comply with coming rules
Automated payment systems in high demand for UK businesses
Afex survey shows 44% of UK companies expect to increase global payments
Perseus to speed up Chicago-Tokyo route
Connectivity firm to deliver round-trip latency below 120 milliseconds
Failure to own and timely settle intercompany transactions leaves firms open to FX and tax risks
Failure to own and timely settle intercompany transactions leaves firms open to FX and tax risks
Morgan Stanley grabs Abiola for FX sales role
Aki Abiola joins from Bank of America Merrill Lynch
Rivelli leaves Brevan Howard
Chris Rivelli leaves the firm after only a year
Australian authorities ban Deutsche FX trader for life
Andrew Donaldson tried to hide losses with false entries and inflated the bank's revenues by 28 million euros
FastMatch hires Thomas as sales director
Firm pushes ahead with build out of its New York sales force
ADS Securities to pull back from London, Watson resigns
ADS Securities London will become regional base, redundancies on the cards
Burt and Jerrom join BGC Partners from RJ O'Brien
They take on new roles after working as brokers for three months in listed FX futures at RJ O'Brien
Dahlström, SEB's global head of FX spot exits
Markus Dahlström leaves the Swedish bank after 15 years, two of which he spent at the helm of spot trading
Berntsen replaces Rojas as Americas CEO at StanChart
As Rojas moves on, Bernsten will also head up corporate and institutional banking for the Americas
China’s FX reform hit treasurers the most – JP Morgan survey
Senior financial executives from more than 100 global and regional corporates responded at Asia-Pacific Treasurers Forum
Renminbi's global share of payments slides
China's currency holds fifth place globally, but overall share shrinks again, Swift says
Schirm swaps Commerzbank for Barracuda
He leaves the German bank for the Ireland-based management software provider
Benda swaps Deutsche for Nomura
John Benda will focus on FX sales to Israel and the UK
Kendrick heads to Standard Chartered
He joins the UK bank from Morgan Stanley
Rae heads to Barclays
He joins the UK bank from Goldman Sachs
Broad dollar strength on the horizon, says Wells Fargo
December hike of 25bp expected from Fed and it is likely to pull the trigger again in 2017, helping to propel the dollar
Alpha FX appoints Kidd as CFO
Icap's former Emea CFO joins the UK corporate FX brokerage
GFT hires Collins to head financial services
David Collins joins from Sapient, where he was involved in reshaping the UK consulting division
OCC suspends Johnson from markets
He pleaded not guilty to alleged felony charges in August, but OCC says the charges involve dishonesty and breach of trust
Modifications sought in Johnson's release
Attorneys still working to get Mark Johnson's wife as a signatory on the $1m bond agreed for his release in July
FXecosystem adds SG1 as it expands into Asia
This reinforces the firm's colocation connectivity network, which already includes LD4 and NY4
Citi warns of all-time cable low
Following a move of nearly 10% in GBP/USD, technical analysts say a test of an all-time low cannot be written off
Pound crashes 8% during early morning trading
Sterling plunged from $1.26 to $1.14 within two minutes, just after 7pm in New York