Month: May 2006

Last Two NAB Traders Guilty: Bank Turns Attention to Brokers?

The two remaining former FX options traders accused of rogue trading and covering up AUD 360 million losses at National Australia Bank (NAB) have been found guilty by the Victoria County Court. Hopes that this may bring a curtain down on the sorry affair appear unfounded with reports circulating that NAB is now to target […]

Harvard Management Hires Feld to Run FX

Harvard University has hired Karen Parker Feld to head the new foreign exchange unit of its $25.9 billion endowment, the world’s largest education fund. Feld is joining Harvard Management Company (HMC) from Wellington Management Company in Boston, where she currently manages over $20 billion as director of FX. Previously she worked for Chase Manhattan Bank […]

GFI Appoints Global Head of FX Options…

Interdealer broker GFI Group has appointed Sean Kelly as global head of FXoptions, a new position, reporting to Colin Heffron, president of the company. Previously Kelly ran theFX optionsdesk in London. The new role has been created to formally recognise how GFI isserving its clients on a global, round-the-clock basis, the company says. Kelly will […]

…Launches ForexMatch

In other news GFI is set to launch a hybrid voice and screen-based trading platform forFX options in Q3 this year. The move represents an extension of both its voice brokerage and Fenics capabilities. ForexMatch will allow interbank dealers to enter prices and trade one day to one year at-the-money volatility for currency options, in […]

Saxo Bank Hires Liber for London Office

Gabriela Liber is joining Saxo Bank’s new London office on 1 July from Merrill Lynch where she worked on the FX options desk. At Saxo Bank she will focus on institutional clients in the Israeli market and will report to Peter Klein, director of Saxo Bank’s London office. “We are delighted to welcome Gabriela on […]

Standard Chartered Creates Global Commodity Derivatives Team

Standard Chartered Bank is strengthening its global rates and foreign exchange business with the creation of commodity derivatives desks in Singapore and London. The bank has hired a team from Commerzbank headed by Jeremy East, who has been appointed head of metals, global commodity derivatives, rates and foreign exchange, reporting to Will Shropshire, head of […]

BarCap Launches Two-Way Streaming FX Options Prices in Asia

Barclays Capital (BarCap) has launched electronic trading of vanilla FX options in Asia following the launch of the service in the US and Europe earlier this year. The service is part of the bank’s proprietary platform, BARX for FX Trading. The platform offers live two-way streaming tradable prices of FX options across 17 currency pairs, […]

Lloyds TSB Hires in FX Sales

Lloyds TSB Financial Markets has hired Colin Devo to its global FX sales team in London. Devo joins as associate director, FX Sales for global and financial institutions, reporting to Jeremy Hodges, director, FX Sales global and financial institutions. Previously Devo was at HSBC, where he worked for 17 years in a variety of UK […]

Korean FX Liberalisation Plan Brought Forward

The implementation of Korea’s on-going foreign exchange liberalisation has been brought forward two years to promote the country as a regional financial hub, according to a statement by the country’s Ministry of Finance and Economy, (MOFE). The Ministry’s plans are summarised as a three-prong approach including “facilitating the won’s internationalisation; liberalising foreign exchange transactions including […]

Reuters Adds Four to RTFX…

Deutsche Bank, Dexia, HSBC and Socit Gnrale have gone live on Reuters’ bank-to-client platform, Reuters Trading for Foreign Exchange (RTFX). In addition, Citigroup has become the latest bank to commit to providing tradable prices to the service and plans to go live in Q3, Reuters says. RTFX allows banks and their customers to trade foreign […]