Day: 12 March 2007

Bank of America Hit by FX Departures

Bank of America is losing four of its foreign exchange and rates staff this month following bonus payouts. Among those leaving are Alain Delelis, head of global foreign exchange, Americas and Alastair Hollingdale, head of rates, EMEA.   Magda Rakita, who works in interbank FX sales, and options trader John Anone are also leaving, a […]

FX Management Changes at HSBC in North America

HSBC has named two co-heads of foreign exchange, North America following the resignation last week of Ben Welsh who headed foreign exchange for the Americas.   A bank spokesperson tells Squawkbox that Welsh’s responsibilities will now be assumed by Daniel O’Sullivan, head of FX trading, North America and Daniel Silber, head of FX sales, North […]

Icap Extends Precious Metals Trading on EBS

Interdealer broker Icap is launching electronic trading in platinum and palladium on its EBS platform in response to market demand and soaring volumes in precious metals trading.   The Icap-owned EBS platform is already a global electronic trading venue and source of liquidity for trading gold and silver.   Platinum will be traded on EBS […]

GFI and Nittan Open offices in Korea

GFI Group and Nittan Capital opened brokerage operations in South Korea last week while BGC Partners and Tradition are planning similar launches.   New York-headquartered GFI Group says its new operation will be broking Korean interest rate swaps, deliverable forwards and non-deliverable forwards.   Operating as GFI Korea Money Brokerage, the office is headed by […]

AIG Launches Emerging Markets FX Indices

AIG Financial Products, the parent company of Banque AIG, has launched the AIG Emerging Markets Foreign Exchange Index (EMFXI), providing investors with a tool for passive exposure to emerging markets foreign exchange.   The company is launching a family of indices including the AIG-EMFX Benchmark Index designed to replicate the return of investing in an […]

State Street Completes Currenex Acquisition

State Street Corp. has completed its $564 million acquisition of online foreign exchange trading system provider Currenex.   The all-cash deal, announced on January 22, 2007, accelerates State Street‘s participation in the fast growing electronic foreign exchange trading market while significantly increasing and diversifying its trading customer base beyond traditional asset managers to include more […]

ABN Amro Shifts FX Desk from Sydney to Singapore

ABN Amro has transferred five foreign exchange traders from Sydney and one each from London and Chicago to its Singapore office.   Rick Lloyd, ABN Amro’s head of G11 FX trading, Asia tells Squawkbox the move is part of the bank’s strategy to hub its FX business in Singapore, similar to London being the FX […]

Maiti Moves from ING to Danske Bank

Bobby Maiti has left ING in London where he worked in foreign exchange corporate sales to join Danske Bank in Copenhagen in European FX sales, according to market sources. Danske Bank could not confirm the hire by press time.   Maiti joined ING in 2003 from Commerzbank Securities, London where he also worked in sales. […]

UBS Promotes Prime Brokerage Executives

UBS is relocating David Gray, who has been head of the prime brokerage business in Australia since its establishment in 2001, to Hong Kong to head Asia Pacific prime brokerage. Colin Taylor will now head the Australian prime brokerage business.   Gray takes over from Matt Pecot who has relocated to New York to lead […]

SuperDerivatives Launches Buy Side Cross Asset Platform

Options pricing and technology provider SuperDerivatives has launched SD-Funds, an online multi-asset derivatives platform that combines pricing, analytics, trading, risk management and compliance reporting for the buy side.   The service includes all pre-trade and post-trade activities with features specifically designed for hedge fund and asset managers.   Users can back test strategies for a […]