Month: November 2003

Forex Market Shaken By US Sting Operation

The investigation was conducted jointly by the Office of the United States Attorney and the New York Office of the Federal Bureau of Investigation (FBI) in conjunction with the Commodity Futures Trading Commission and the US Securities & Exchange Commission. According to the FBI, two different types of fraud are being alleged. What is known […]

Ferraro Joins Lehman

Martin Ferraro is to surface at Lehman Brothers in New York, a spokesperson confirms. He will join Lehman as executive director and senior sales person in institutional FX on December 1, reporting to Mark De Gennaro, New York-based global head of FX sales. Ferraro left BNP Paribas last week. He had been head of FX […]

BarCap Adds Leonard

Tom Leonard, formerly a sales dealer at HSBC in New York, has joined Barclays Capital, as a director, confirms Ivan Ritossa, London-based global head of FX. Leonard will report to Eric Price, New York-based managing director and head of foreign exchange distribution for the Americas. At HSBC, he was a senior vice president for FX […]

Goldie-Morrison Resurfaces at Icap

Duncan Goldie-Morison joined money broker Icap as a non-executive director on November 20 as a member of the audit, remuneration and nominations committees. Earlier this year, he left Bank of America, where he was managing director, head of the global markets group and head of Asia (see Profit & Loss, March 2003), and is currently […]

ACI Responds to FX Arrests in New York

ACI – The Financial Markets Association has released a statement regarding the arrests of 48 individuals in the New York FX market. “Although thousands of dealers, in centres all over the world, are conducting their daily business in a highly professional way and under the highest ethical standards, the fraudulent actions of these individuals, representing […]

Devereux Joins BBH NY

Colin Devereux has joined Brown Brothers Harriman (BBH) in New York as a senior trader. He reports to Peter Lorraine, managing director of BBH FX in New York. He joins from UBS in Singapore, where he traded Swiss and local Asian currencies, prior to which he spent three years at UBS’s Stamford operation, where he […]

Currenex Connects with FIX

Currenex has completed its FIX compatible service for streaming FX rates. The new system enables market participants to execute trades with Currenex’s Executable Streaming Prices (ESP) service using the FIX 4.2 protocol. The FIX service was introduced at the request of a number of price makers interested in ESP trading, the multibank portal says. “We […]

Moneyline, Dow Jones Extend Deal

Moneyline Telerate and Dow Jones Newswires have extended their distribution contract. The agreement packages a real-time Dow Jones news and information service with Moneyline’s core products. The extension will last for three years, having been initiated in spring 2002 (see Profit & Loss, May 2002). As part of the agreement, Dow Jones Newswires will continue […]

TradeStation Offers Executable FX

Securities broker-dealer and futures commission merchant TradeStation Securities has begun a move into the FX market with an account and execution service. TradeStation software has been available over successive Dow Jones Telerate, Bridge Telerate and Moneyline Telerate products for the last seven years, used by institutional traders to design, test and optimise FX trading strategies. […]

Napier Scott Hires FX Expert

Napier Scott Executive Search, a London-based head hunter, has appointed Simon Jaquiss, formerly European head of currency and derivatives trading at Investec, as a senior search consultant. His main focus will be on the currency markets, where he has more than 19 years’ experience. His career has included roles at Canadian Imperial Bank of Commerce […]