State Street
Pressure mounts on CFTC for relief on Sef rules
CFTC is being lobbied to grant relief on the contentious Footnote 88, which requires platforms to register as Sefs even if the products they offer are not yet made available to trade
Currenex hires from Morgan Stanley FXPB
Robert Sagurton, who was part of the Morgan Stanley FX prime brokerage team that saw a recent reshuffle, has joined Martine Bond at State Street
UBS hires FX quant head from State Street
Ciara O'Brien joins UBS to head electronic foreign exchange quantitative trading analytics
Barclays FX flow options head departs
Gugesh Guganeswaran has left the bank in London; other FX hires at RBC and SG CIB, while BNP Paribas reshuffles in strategy and Credit Suisse appoints a new chief risk officer
Sef regime begins, but platforms concerned over 'permitted' rule
Multi-dealer platforms are worried that, although they have to register as Sefs now, clients might be deterred from using them until they have to
CIBC hires ex-State Street sales head
Gerard Dodd joins Canadian bank in London, having left State Street last year after 12 years in senior sales roles
State Street's Bond fixes sights on new initiatives
Appointed as Cliff Lewis’s deputy last year, Martine Bond has since stepped up to run trading and clearing within State Street’s Global Exchange business, managing both Currenex and FX Connect
Digital Vega to add non-deliverable options to Medusa
NDOs in testing on Medusa platform as some market participants begin to consider alternatives to deliverable FX options that could be more easily cleared
Options platform of the year: Digital Vega
Despite the challenges faced by multibank options platforms as a result of delays in regulation, Digital Vega has managed to build consistent liquidity on its Medusa platform
Trading kicks off on new platform MoltenFX
Molten Markets launches electronic communications network in first stage of strategy aimed at the investment management market
State Street appoints Conway to head new product group
State Street has reorganised its product offering, appointing Jeff Conway to head the newly created 'Global Exchange' group
FX veteran Meinnel departs State Street
Meinnel quits State Street after more than 20 years in FX that included senior roles at BNP Paribas and Bear Sterns
Digital Vega to add spot to Medusa options platform
FX options platform to add spot trading functionality this week in response to client demand, assisted by State Street-owned Currenex platform
Saxo Bank appoints new head of FX
The Danish bank has promoted internally to fill the role of global head of foreign exchange, following the departure of Ted Voorhees
Trading places, November 26, 2012
Credit Suisse restructures its senior management team, while State Street's chief financial officer will retire next year
TraFXpure accelerates as three more banks sign up
Bank-backed spot platform now has the support of nine banks as it reveals further details of its matching logic, which it believes will eliminate technology and latency arbitrage opportunities
QE3 sparks widespread dollar bearishness
The US dollar fell against most major currencies following the announcement of QE3 on September 13, but market participants are lukewarm on the likelihood of its success
Central banks are behaving irrationally, complain currency managers
The ECB's OMT programme fails to tackle growth and a third round of QE from the Fed would be irrational, according to speakers at FX Invest West Coast conference
Martine Bond exits Morgan Stanley
The chief operating officer for FX and emerging markets has resigned from Morgan Stanley and is understood to be moving to State Street
CLS hires JP Morgan veteran as chief executive
David Puth will become the next chief executive of CLS, starting next week, the settlement risk utility announced today
Newns promoted to chief operating officer at Currenex
David Newns has been promoted to chief operating officer at Currenex, as Chip Lowry moves on to a new role within State Street Global Markets
Molten Markets expands with senior hires
Rich Wenzel and Peter Frucht have joined Molten Markets as the firm pushes forward with its new FX ECN
Europe’s institutional investors look to alternatives and cost-effective exposure
Institutional investors in Europe favour fixed-income and alternative assets as they continue de-risking their portfolios, with a focus on cost-effective market exposure and downside protection
Eurodollar caught in range-bound tug of war
Currency strategists are divided over whether EUR/USD will break out of the 1.30-1.35 range it has traded in since late January