Month: November 2007

EBS to Change Pricing Structure for FX products

Icap’s foreign exchange trading platform EBS is changing its pricing structure in a move designed to reward increased volumes. However, price makers, who traditionally traded at a cheaper rate, will be paying higher prices. With effect from 1 January 2008, the company will begin a phased transition to volume-based pricing for all FX products on the […]

Citi Combines FICC and Equities Sales

Citi is reorganising its Capital Markets operation, by combining its fixed income and equity sales divisions and merging its debt and equity underwriting businesses. The move follows a management shakeup last month.  Under the restructure, the sales functions of the equities and fixed income, currencies and commodities (FICC) divisions will be combined to form the […]

UBS Makes Changes to FX Management

UBS has made changes to its foreign exchange senior management line up, replacing former chief Andy Amschwand with two co-heads – Fabian Shey and Reto Stadelmann. According to an internal memo outlining the changes last Wednesday, Shey, previously global head of distribution for Money Markets, Currencies and Commodities (MCC), and Stadelmann, formerly global head of […]

Former JP Morgan FX Chief Joins Icap Board

Interdealer broker Icap has appointed David Puth, the former global head of currencies and commodities at JP Morgan, to its board as a non executive director. He will serve as a member of its audit and remuneration committees, the broker says. Puth is president of The Eriska Group, a risk management consultancy focused on alternative […]

Apama Links to FXall

Progress Apama is integrating its foreign exchange aggregation and algorithmic trading platform with FXall’s anonymous ECN, Accelor. Fragmentation in the electronic FX trading space has given rise to an increased use of aggregation platforms, as well as algorithms to assist in the automated trading of FX. John Bates, founder and vice president of Apama Products […]

Lava Offers Traiana for FX Post-Trade

Lava Trading will offer Traiana’s NetLink post-trade processing service to its foreign exchange trading customers using its LavaFX ECN. NetLink is a post-trade netting service for the FX market, which reduces the number of tickets processed in the back offices of FX prime brokers. With daily traded volumes in FX rising, more FX players are […]

IPC Wins Telecoms Mandate for Merrill Lynch

Trading floor dealerboard provider IPC Systems has won a global deal with Merrill Lynch, turfing out BT in the process. IPC is to provide almost 4,000 of its IQ/MAX trading desktops on Merrill Lynch’s two largest trading floors in New York and London, as well as other trading floors globally. A spokesperson for BT Global […]

StanChart Launches e-Trading of Non-Deliverable Forwards

Standard Chartered Bank is now providing electronic access to emerging market non-deliverable forwards (NDFs) via its proprietary platform, Straight2Bank Web, and through the multi bank trading platform FXall. As NDFs account for a significant proportion of trading in emerging market, the bank says it has extended its services in the traditional voice NDF market to […]

Credit Suisse Creates Japan EM Team

Credit Suisse has established an emerging markets group in Japan and hired Hiroyuki Ishido as a managing director and head of the group. The new group is part of Credit Suisse's Global Emerging Markets Group (EMG) and will focus on establishing the bank’s presence in emerging market products in Japan, working closely with the EMG […]

GCC Currencies Should Shift Away from US Dollar Peg: StanChart

Countries in the Gulf Cooperation Council (GCC) should begin preparations to shift their currencies away from a peg to the US dollar and manage it against a basket of currencies with which the Gulf trades, according to the latest Standard Chartered special report on the Middle East.  Gerard Lyons, chief economist of the bank says: […]