Month: December 2008

On the Move

Pivot, JPM, Easy-Forex, CME Group…. Eley Lands at Pivot Former Hotspot FX chief John Eley plans to bring instant messaging trading technology to the fore as he takes on a new role at Pivot. He is based in Jersey City and takes on a role left vacant by Lou Eccleston when the latter went to […]

Tech Corner

A round up of the latest technology news… ELX Electronic Liquidity Exchange has selected the clearing services of The Options Clearing Corp (OCC). Neal Wolkoff, chief executive at ELX says OCC offers the “right capabilities to support ELX’s planned launch of electronic trading in US interest rate futures, plus the ability to accommodate our growth […]

Around the World…

Icap’s Charity Day, the return of Global Macro, unwelcome visitors to FX desks, a “group hug” in Asia and the rare sighting of a job advert in the financial markets. A hint of jealousy in the air at Icap Australia as the men on the desk heard that New York had secured the support of […]

And Finally…

In the absence of a stream of vitriol about Santa Claus cutting back on his client facing staff, this will be the last And Finally of the year (unless my Christmas presents are really bad). I thought therefore we could take something that came to light last week and use it as the basis for […]

Bloomberg Tradebook Back with BoA

Bloomberg Tradebook is re-launching its electronic foreign exchange marketplace with Bank of America as its global clearing and settlement counterparty. In addition, Bloomberg says it has added some major enhancements to the FX platform to accommodate the risk and workflow needs of its users. Plans also include opening up to hedge funds via their prime […]

Platforms See Less Business as Crunch Intensifies

The reality that is the new liquidity paradigm hit home in November as the multi-participant venues saw volume drop sharply for the second month in a row. While overall foreign exchange volumes are thought to have dropped by a modest amount, those platforms to publish turnover data, as well as anecdotal evidence regarding others, suggest […]

A New Breed of BARX

Barclays Capital has released a string of upgrades to its BARX for FX trading platform. The key element of the updates has been to make the platform more configurable and flexible, sources within the company tell Profit & Loss. At the same time some cosmetic changes have been made in the form of sharper graphics […]

Dramatic Cut in Bonuses Expected But Ray of Light in FX

When it comes to year-end bonuses, stand out performers in foreign exchange may be afforded minor protection while employees in businesses that have been hardest hit by the credit crunch – such as fixed income and credit derivatives – can expect to walk away with no bonus at all. According to an annual survey by […]

Growth in FX?Bolsters Thomson Reuters 3Q Revenues

A growth in revenues from Thomson Reuters’ foreign exchange products and services helped to offset the impact from weakness in investment banking in the third quarter. The news and financial information company beat analysts’ expectations with an 8% year-on-year rise in revenue in the third quarter, as its Markets Division weathered the financial downturn that […]

Bank of America Appoints Head of Rates and Currencies

Bank of America (BoA) has reached into Merrill Lynch’s foreign exchange team to select its head of global rates and currencies. The bank confirms that David Gu will become head of global rates and currencies following completion of the takeover of Merrill – expected by the beginning of next year. Gu is Merrill Lynch’s global […]