Day: 19 March 2007

Does New Rule Threaten Europe’s Foreign Exchange Standing?

In the March issue of Profit & Loss we report on concerns in the foreign exchange market over the recently-released Final Directive of the EU CRD (Capital Requirements Directive) by the UK’s Financial Services Authority (FSA). Sources within the London market are already talking of having to reverse what one terms a “disastrous amendment created […]

ABN Amro Shifts Nelson to Global Head of Financial Markets

ABN Amro has moved John Nelson from his position as head of global markets, Americas to become the global head of its financial markets business. Nelson will now have global responsibility for the sales and trading of all foreign exchange, derivatives, credit, interest rate and treasury products. The position is newly created and follows a […]

Icap Shuffles Senior Management in Australia

The world’s largest inter-dealer broker Icap has unveiled a new management structure for its Australian operation following the departure of John Lockhart, CEO of Icap in Sydney, who left the firm last Wednesday (March 15). Lockhart has been with Icap in its various guises for 25 years and departs to “pursue interests outside the industry” […]

ICE Offers $10 Billion to Thwart CME, CBOT Deal

The Chicago Board of Trade (CBOT), which agreed last October to merge with the Chicago Mercantile Exchange, has received a competing bid from all-electronic rival InterContinentalExchange (ICE). Directors from CBOT are understood to be meeting on Tuesday March 20 to evaluate the counterbid. ICE, an energy and commodities marketplace, said last Thursday March 15 that […]

FXMarketSpace Adds to Sales and Client Solutions

FXMarketSpace, the centrally-cleared FX platform owned by Reuters and CME, is strengthening its sales and customer solutions teams prior to its launch with a series of hires on both sides of the Atlantic. In sales, Tom Koslowske and Noel Singh have been appointed vice presidents based in New York and London respectively. Koslowske reports to […]

Dresdner Kleinwort Appoints Head of FX Options…

Dresdner Kleinwort is strengthening its global foreign exchange business with the appointment of Ira Koyner as head of FX options, New York – a newly created position. His hire comes three months after the bank made senior management hires for its London team. Koyner joins from NatWest/RBS Greenwich Markets in the US, where for the […]

…While Ex-PB Head hits Merrill?

Meanwhile the former head of FX prime brokerage at Dresdner Kleinwort is reported to be heading to Merrill Lynch in London to head FXPB there. Sources close to Merrill Lynch tell Squawkbox that Roger Allen is joining the bank after leaving Dresdner at the end of last year (see Squawkbox, December 11, 2006). Although Merrill […]

CalPERS Selects LavaFX

The California Public Employees’ Retirement System (CalPERS), the US’s largest public pension fund, has selected Lava Trading’s LavaFX product suite to execute trades in its new Active Currency Overlay Portfolio and other internal units. With LavaFX, CaIPERS will be able to place standing orders and time slice orders, as needed. “By providing direct access to […]

Lehman Builds in Asia…and in London?

Lehman Brothers has unveiled the appointment of Kenichi Kawasaki as managing director, chief economist, Japan while Robert Subbaraman, senior economist, Asia, has been appointed to the new position of chief economist, Asia ex-Japan. Based in Tokyo, Kawasaki will report to Paul Sheard, global chief economist, and Walter Toshi Baily, head of fixed income research, Japan. […]

Erste Bank Takes Calypso

Erste Bank Group, a Central and Eastern European financial services company, has selected Calypso Technology to provide a front-to-back, group-wide trading platform for interest rate, FX and credit derivatives. “We felt it was time to move to a system that would provide us with a simplified way to trade the exotic products we are using. […]