Gil Mandelzis has decided to step down from his position as CEO of EBS BrokerTec, and will be leaving the company in due course, Icap announced today.
In a statement issued today regarding this news, Michael Spencer, CEO of Icap, hails Mandelzis as “a truly outstanding leader” of the firms’ electronic market division who has played “a central role in the successful expansion and integration of the EBS and BrokerTec businesses”.
He continues: “Gil co-founded Traiana back in 2000, a business IC...
Mark Johnson, the head of global FX cash trading at HSBC and
Stuart Scott, former head of FX cash trading for EMEA at HSBC, have been officially
charged by the US Justice Department with conspiring to defraud HSBC clients by
front running orders.
Profit & Loss reported yesterday
on the reports emerging that Johnson had been arrested at JFK airport in New
York in connection with the Justice Department’s ongoing FX rigging
investigation, which have now been confirmed. Profit & Loss also reported...
Multibank platform providers need to broaden the range of
liquidity options that they offer clients in order to thrive in the diverse FX
market ecosystem, said panelists at Profit & Loss' Forex Network New York conference.
There has been much discussion in the industry about whether
more FX trading will occur through central limit order book (CLOB) venues, or
whether clients will ultimately prefer a bilateral, disclosed model.
“Disclosed trading is a big part of our business and it’s
As client requirements evolve in response to changes in FX
market structure, services providers need to be ready to adapt to these new
demands, said panelists at Profit &
Loss Forex Network Toronto conference last month.
Liquidity has been a big talking point this year in the FX
industry, and the panelists highlighted how their clients’ liquidity demands
are shaping their businesses, often in very different ways.
Matt O’Hara, CEO of 360T Americas, explained how an increasing
number of his fir...