FX Markets - 15 Aug 2016
Articles in this issue
Gerry Harvey becomes new FMSB chief executive
Harvey is first head of independent body created to raise standards in Ficc markets
Former Barclays chief joins Currencies Direct as non-exec chairman
Antony Jenkins becomes group chairman of non-bank payments and foreign exchange provider
Kar heads to Morgan Stanley in Hong Kong
He joins the US bank at the end of the month
Barclays trims eFX sales team
Top management of merged execution and eFX sales made redundant
TriOptima and CME complete first ever LatAm compression cycle
Eliminating over 35% of cleared notional outstanding, equalling around $664 billion
Pena joins Morgan Stanley in London
Andrew Pena leaves Goldman Sachs after 17 years to head real money and hedge fund FX sales for Emea
EU non-cleared margin rules tipped for February
The regime is likely to begin earlier than mid-2017, say regulatory sources
Waters leaves transactional FX role at HSBC
Betsy Waters was head of transactional FX, Americas
China to create own version of FX code
A newly established Chinese FX Committee is working on creating a Chinese version of the Global Code of Conduct, for domestic and foreign banks operating in the onshore market
European Ficc revenues paint mixed picture
Not all European banks benefited from the uptick in volatility following Brexit
Central bank measures are losing the element of surprise
As the Fed holds rates steady this year, G10 currencies are expected to trade flat, says Dominic Bunning, HSBC's senior FX strategist
ADS hires Kwok to bolster prime-of-prime team
Louisa Kwok joins from BNP Paribas
Mahi looks to be strategic risk manager for retail brokers
Appointment of Nick Mortimer comes as technology company prepares to push its Compass offering to the retail segment
Regulators fail to address key issues in FX, participants say
While they see some positives they believe there's still too many practices open to abuse