Currency
Dealers target hedging activity in the Philippines
MANILA – While authorities in the West increase derivatives regulation, the Bangko Sentral ng Pilipinas has liberalised rules governing both hedging and yield enhancement markets in the past few years. Despite the challenges of penetrating a market…
BMo shakes up London FX
LONDON - Bank of Montreal Capital Markets (BMo) has reorganised its FX business, seeing the return of Lorne Gavsie, managing director in FX, to Toronto from London.
Wood-Collins chief at Record
LONDON - Record Currency Management has named James Wood-Collins as chief executive, taking over from Neil Record, who has been chairman and chief executive since the currency manager’s listing in 2007.
IG up despite Japan retail leverage cap
LONDON - IG Group reported a 16% rise in revenues for the third quarter, to £79 million, versus the same period last year, despite new caps on leverage for retail traders in Japan.
US employment: Settling for less
The US August employment report came in better expected, removing some near-term risk of a double dip but still pointing to pervasive weakness, says Julia Coronado, senior US economist at BNP Paribas in New York
RBC deploys Progress Apama
LONDON – RBC Capital Markets has deployed Progress Apama's FX Aggregation system to support its FX dealing operations, the vendor announced last week (September 8).
Standard Chartered boosts Mena coverage
DUBAI – Standard Chartered has made five hires in Dubai as part of plans to boost its fixed-income, currencies and commodities business (FICC) in the Middle East and North Africa (Mena).
Morgan Stanley hires trading head in Asia
David Hong has joined Morgan Stanley as a managing director and head of FX and emerging markets trading for Asia, based in Hong Kong.
Exchange volumes continue rise in August
CHICAGO – Volumes in foreign exchange products on the Chicago Mercantile Exchange were up 15% in August, with 11.7 million contracts traded a day on average, the exchange said last week.
The risks of ongoing imbalances
Pete Luxton, global economic adviser at Informa Global markets in London, looks at the implications of the ongoing external imbalances
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.
Turnover reaches $4 trillion
Trading between banks and the non-bank financial institutions surpassed interdealer volumes, reveal preliminary statistics from the Bank for International Settlements' (BIS) triennial foreign exchange survey.
Alpari US live with Morgan Stanley FXPB
Retail trading company Alpari US has dropped Newedge in favour of Morgan Stanley as its foreign exchange prime broker, as part of plans to reduce trade sizes and auto-hedge its retail flows.
SEB FXPB targets Q4 live date on EBS and Reuters
SEB will go live with three prime brokerage clients on EBS Spot and Thomson Reuters Matching for Prime Brokerage at the start of the fourth quarter.
Lloyds TSB hires Yates
Lloyds TSB Corporate has hired Sara Yates as sector economist in London, the bank said today (August 25).
Commerzbank builds FX globally
Commerzbank has made key hires in sales and trading across Asia, Europe and the US as it strengthens its global FX business, the bank said on August 25.
Thomson Reuters veteran to leave
Mark Redwood, president, sales and trading, in the markets division at Thomson Reuters in London, is due to leave by the end of the year, the company confirms.
Malaysia liberalisation sparks ringgit rise
KUALA LUMPUR - The Malaysian ringgit reached 13-year highs against the dollar last Thursday, as officials relaxed currency controls on corporate hedging and international trade settlement on August 18.
CLS hires new head of strategic initiatives
NEW YORK – CLS has hired Richard Kerschner as New York-based head of strategic initiatives, a newly created role, it announces today (August 16).
Hotspot FX continues year-on-year growth
JERSEY CITY, NJ - Hotspot FX reported average daily volumes of $33 billion – double count – in July, up 55% from $21.30 billion a year earlier.
FXall adds head of global trade support
NEW YORK - Quito Zuba joins FXall as senior director and global head of trade support, as of today (August 16), in New York.
RBC hires European e-distribution chief from Citi
LONDON - RBC Capital Markets has hired Katherine Krebser as head of e-commerce distribution for Europe from Citi in London.
db x-trackers launches currency ETFs in London
LONDON - db x-trackers, Deutsche Bank’s exchange-traded fund (ETF) platform, launched two ETFs linked to the DB Currency Returns Index (DBCR) last week.