Month: February 2008

Emirates Bank Takes Calypso for Cross-Asset Trading

Emirates NBD bank has chosen Calypso software to trade multiple asset classes including derivatives in credit, interest rates, FX and equities, as well as FX, money market, and fixed income cash instruments. Emirates NBD is the largest bank in the Gulf Cooperation Council in terms of assets and the biggest banking group in the UAE […]

SSgA Appoints Six to Global Fixed Income Team

State Street Global Advisors (SSgA), has appointed six senior executives to its global fixed income team. They include existing SSgA executives John Kirby and Kevin Anderson, who will co-lead global fixed income beta solutions. Anderson also will co-lead European and Pan-Asian regions with another SSgA executive, William Street. Joining SSgA are William Cunningham as global […]

Australian Agribusinesses to Return to FX

Australian agribusinesses are expected to return with a vengeance to global commodity and foreign exchange markets in 2008 after suffering from drought over much of the past half decade. A report by Rabobank says, "2008 is shaping up as the year to remember for Australian agriculture, as promising early rainfall and as a positive outlook […]

CFEC Clarifies New Holiday Rules

The Canadian Foreign Exchange Committee (CFEC) has released details of settlement procedures for 18 February, a day on which the Provincial Government of Ontario recently declared a new holiday that will take place for the first time in 2008. The CFEC says that it has received many inquiries as to whether 18 February is a valid […]

Philippines to Liberalise FX Market

The Philippines central bank will be improving the foreign exchange environment further through deregulation, according to its Governor, Amando Tetangco, in a speech last week to the Foreign Correspondents Association of the Philippines. The FX deregulation objective is one of four main external sector policy thrusts for Bangko Sentral ng Pilipinas, the central bank, in […]

Chatham FX Risk Advisor Opens in Singapore

Chatham Financial, a US-based independent interest rate and foreign exchange risk advisor, has opened an office in Singapore and has appointed Jason Hoffnagle as its Singapore team leader. He previously helped develop Chatham’s Denver, Colorado office. The company says it opened the office in Singapore to better serve its international client base as well as […]

Japan Regulator Plans Market Boost, TFX Sees FX Futures Business Jump

Japan’s Financial Services Agency (FSA) has published plans for strengthening the competitiveness of the country’s financial and capital markets. Included are initiatives that broaden the scope of businesses permitted by financial institutions, diversify products tradable at exchanges, and "revamp the firewall regulation among banking, securities, and insurance groups." Alliances between the country’s financial and commodity […]

UBS Appoints CEO of Investment Bank

UBS has hired a top ranking executive from Morgan Stanley to head its investment banking business as it recovers from its massive sub-prime-related losses. Jerker Johansson has been appointed as chairman and chief executive officer of the investment bank replacing Huw Jenkins, who left UBS in October after the bank disclosed writedowns, which now total […]

TwoFour Adds Interest Rate and Currency Swap Functionality

TwoFour, a White Plains, NY-based trading technology provider, has added interest rate and currency swap functionality to its trading platform to beef up its coverage of derivatives.  TwoFour is a trading system for front, middle and back office processing across asset classes, including foreign exchange. It is designed for real-time, high volume, workflow-based straight-through processing […]

Forex Fraudster gets 10 Years

The operator of a US-based "boiler room" forex operation has been sentenced to 150 months' jail for his role in a $6.5 million fraud. The United States Attorney for the Southern District of New York has announced that Boris Shuster, a/k/a “Robert Shuster,” of Brooklyn was sentenced to the jail term for leading and organising a […]