Month: February 2008

Brokers Pull Out of Local Chinese Forward Market

Confusion reigns over the exact reasons why Icap and Tullett Prebon stopped providing quotes for onshore foreign exchange forwards and swaps in the Chinese interbank market on Thursday. Regional sources suggest it was under the instructions of the State Administration for Foreign Exchange (SAFE), the nation's FX regulator. Brokers at the inter-dealer brokers told Reuters that both […]

ANZ Appoints Head of Markets Europe

Greg Wakelin is moving from his role as head of structured credit for ANZ bank in Australia to become head of markets, Europe and America for the bank. He will report to Gilles Planté, managing director, markets, and will take up his appointment next month. Wakelin replaces Bill Wulkin, who left the bank late last year to head up […]

More Hires at Saxo

Saxo Bank has continued its hiring spree by adding two traders to its FX team in Copenhagen. Steven Bellamy, who was previously an analyst working in FX spot trading at JP Morgan will be part of the market makers of major currencies, a spokesperson for the bank says. He is joined by Matt Strang who will […]

dbFX Benefits as Investors Seek Alternative Asset Class…

Deutsche Bank’s retail online currency trading platform dbFX benefited from tumbling equity prices in January as retail investors sought to optimise alternative asset classes. The bank says the platform experienced its highest volumes of trading during January 2008 since its launch nearly two years ago.  Nearly half of all trades executed during January by retail […]

…As Trade Volume Surges in Middle East

The growth rate of foreign exchange trading is surging ahead in the Middle East says Deutsche Bank. The growth of FX trading volumes in the retail FX market in the Middle East has increased significantly since Deutsche Bank launched the Arabic version of its online FX trading service, dbFX, according to the bank. "The increase […]

Lloyds TSB Launches eFX Trading Platform for Corporates

Lloyds TSB Corporate Markets has gone live with a single-bank e-FX trading platform, which uses technology from Reuters. MarketsLink went live last week and is aimed at Lloyds TSB’s UK mid-cap corporate clients. Using the platform they will now be able to trade money market deposits and loans as well as foreign exchange spot, forwards […]

Markit Joins Rush to Provide Valuation Tools

Last summer when the sub-prime meltdown started, financial services firms proved themselves less than fully competent at valuing complex derivatives. They were unable to accurately gauge positions in collateralised debt obligations (CDOs) and other asset backed securities (ABS) which had sub-prime mortgage elements. This led to confusion and ultimately massive write-downs. The importance of complete […]

…and Hires Sales Co-Head

Markit has appointed Shane Akeroyd as executive vice president and co-head of global sales and marketing. Akeroyd was previously with RBC Capital Markets where he was head of global debt markets distribution and a member of the executive management team. Prior to RBC, he was vice chair of capital markets sales at TD Securities, responsible […]

ISE Launches New FX Options Currency Pairs

The International Securities Exchange (ISE), the US options market that was recently acquired by Eurex, has added two new FX options currency pairs to the four that it launched last year. Options on the US dollar/Australian dollar and the US Dollar/Swiss franc began trading on 21 February. Timber Hill, the market making subsidiary of Interactive […]

StanChart Launches Quant Program

Standard Chartered Bank is aiming to increase its quantitative capabilities by recruiting young talent with strong quantitative skills from top universities in its markets. The bank says that in order to continue to deliver innovative solutions to its customers and stay ahead of the evolution of the financial markets, it has created the Quant Academy […]