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SocGen shakes up investment
NEW YORK - Société Générale Corporate and Investment Banking has named Liz Hogan and Jerome Jacques New York-based co-heads of fixed income, currencies and commodities (FICC) for the Americas.
What the Reauthorisation Act means for retail FX
Felix Shipkevich, general counsel at online FX trading company CMS Forex in New York, provides an overview of the US regulatory environment for retail FX brokers
The post-trade value chain
Nick Dyne, head of business development at post-trade technology vendor Logicscope in London, evaluates the prospect of a 'virtual' back office
Calyon cuts back in derivatives to survive downturn
PARIS - Calyon will cut 500 jobs and pull out of the structured credit and derivatives markets as part of a plan to survive the market downturn.
Swedbank takes Siena for rates
LONDON - Swedbank has licensed Eurobase's Siena Rate Manager product to control and publish foreign exchange and money market tradable prices for distribution to multiple execution channels, including FXall.
BoA's Mandell joins RBS
NEW YORK - The Royal Bank of Scotland (RBS) has hired Bank of America's former head of sales for global rates, currencies and commodities (GRCC) and head of foreign exchange to spearhead the growth of its FX franchise in the Americas.
Natixis in Bear Stearns forex hiring spree
NEW YORK - Natixis has hired 17 foreign exchange staff from defunct US investment bank Bear Stearns to kick-start the expansion of its FX platform.
UBS rejigs sales and relocates forex head
LONDON - Swiss dealer UBS has reorganised its London-based foreign exchange salesforce and relocated its head to Zurich, market sources tell FX Week .
Credit Suisse algos on Bloomberg
LONDON - Credit Suisse is offering its foreign exchange algorithmic trading strategies on Bloomberg FX Dealing, as the bank continues on its path to offer the service to a broader client base.
Retail FX broker suspended in Dubai
DUBAI - The Dubai Financial Services Authority (DFSA) imposed its first-ever sanctions against a foreign exchange broker last week, sending a warning to online brokers to maintain standards when operating retail FX businesses in the city.
TFX revamps forex trading
TOKYO - The Tokyo Financial Exchange (TFX) is set to launch a new trading platform for its foreign exchange market, Click 365, on October 27, to support rising volumes as it expands its list of market-makers and products.
UBS hires new fixed-income head
LONDON - UBS has hired Carsten Kengeter from Goldman Sachs as global head of fixed income, currencies and commodities (FICC).
Algo FX: the battle for market share
Algorithmic trading in foreign exchange is tipped to experience continued growth, but the uptake is not without its obstacles. Susanna Robinson reports
BMO boasts booming Q3
TORONTO - BMO Financial Group has achieved a strong quarter for forex trading, according to the Canadian dealer's third-quarter earnings statement.
BMO boosts London FX
LONDON - Bank of Montreal (BMO) Capital Markets has expanded its foreign exchange sales and trading desk in London with the hire of ex-JP Morgan staffer James Hennessy.
NSE FX futures take off in India
MUMBAI - Foreign exchange futures trading on India's National Stock Exchange (NSE) reached 70,000 contracts on the first day of trading, as institutions seek to gain from futures amid a plummeting rupee.
Dresdner FX team could escape Commerz axe
LONDON - Dresdner Kleinwort's foreign exchange team might well escape the 9,000 job cuts arising from Dresdner Bank's €8.8 billion acquisition by Commerzbank, say market sources.
OCL netting gets CLS-compliant
LONDON - Options Computer Limited (OCL) has launched a new version of its year-old pre-settlement netting tool that aims to manage back-office capacity constraints and cut messaging costs, while remaining CLS-compliant.
BGC Partners ups the ante with Brazilian acquisition
NEW YORK - Interdealer broker BGC Partners' agreement to buy Brazilian broker Liquidez represents a desire to capture revenue growth through geographic diversification, market sources tell FX Week .
BoA in trans-Atlantic forex drive
LONDON & NEW YORK - Bank of America has bolstered its US and UK foreign exchange teams with newly created FX emerging market (EM) roles in New York and senior replacement hires in London.
FXCM offers new version of Forex Trading Signals service
NEW YORK - FXCM has released a new version of its algorithmic trading service, Forex Trading Signals, as the market continues to seek new ways to trade currencies amid uncertain market conditions.