Month: June 2007

Brokers Settle Poaching Row

Things appear to be settling down in the Asian inter-dealer broking market after a long running legal argument was settled last week. In a statement, Icap Australia says that its claim against BGC over the alleged “poaching” of 22 staff in Sydney in early 2005, has been settled. “The Proceedings have been settled without any […]

Deutsche Lures Core Rates Trading Head

Deutsche Bank has revealed that Tom Hartnett will join the bank as a managing director and head of core rates trading within its global rates business. He will oversee swaps, core options, government and agency bond trading, be based in New York and report to Jon Kinol, managing director and head of global rates in North […]

Brevan Howard Adds Strategist

Hedge Fund Brevan Howard is continuing to add to its resources with the addition of Adrian Hughes, previously FX strategist at Societe Generale, London, to its strategy team. Sources within Brevan Howard have confirmed that Hughes is joining the firm, however they decline to provide further details.

IMF Move Irks China

Just as the International Monetary Fund seeks to follow through with its stated intention to toughen up its global exchange rate surveillance (Profit & Loss, June 2007), the fund’s first initiative has met with opposition from China, which is concerned that the IMF framework will provide support for those in the US that claim China […]

Harris Shifts to Tullett Prebon

Tullett Prebon in London has raided Martin Brokers for one of its alumni to help build its emerging markets capabilities. Market sources say, John Harris is re-joining the firm to work on its Eastern European emerging markets FX desk.   Harris joined Martins at the end of last year (Squawkbox, November 27, 2006) after an […]

BNP Paribas Hires Verma for Fixed Income…

BNP Parisbas has appointed Nimesh Verma to its financial institutions advisory team, a specialist unit within global risk solutions in the fixed income division.   Verma joins BNP Paribas from Mercer Oliver Wyman financial consultancy. He will be based in London with a global remit, reporting to Adrian Docherty, head of the financial institutions advisory […]

… and Appoints Two for FX Hedge Funds

Meanwhile, BNP Paribas has made two appointments to its UK hedge funds sales desk for foreign exchange; Peter Snasdell and Peregrine Hood are joining the bank in London reporting to Miranda Royston, head of FX sales to hedge funds.   Snasdell joins from ABN Amro in London where he worked as part of the hedge […]

JP Morgan Adds to Emerging Markets Team

JP Morgan confirms it has added to its emerging markets strategy team with the hire of Miroslav Plojhar, who joins the bank as an emerging markets strategist and economist from Citi in Prague. Based in London, Plojhar will report to Michael Marrese, managing director, strategy and economics at JP Morgan.  

On the QT and Very Hush-Hush

Agency brokerage EdgeTrade has introduced an algorithm for directing orders only to dark pools of liquidity; it is called Covert and is an extension of EdgeTrade’s FAN (find and nail) smart order execution strategy.   Covert is a tool designed for institutional traders to capitalise on the benefits of sending electronic orders to dark pools […]

Saxo Launches Trade Commander

Saxo Bank has rolled its Trade Commander black box solution out to clients – the algorithmic trading “add on” tool for clients of its Saxo Trader platform has been in beta testing for clients since March this year (see Profit & Loss, April 2007).   Users of Trade Commander define a trading system that can […]