Month: March 2009

And Finally…

I have always thought that a key component in the success (or otherwise) of the currency markets has been the success (or otherwise) of currency managers. If investors are attracted to foreign exchange through performance and the benefits of diversification and lack of correlation then that is a good thing for the industry as a […]

Remember the Date: Forex Network London – 1 April

Profit & Loss’s Forex Network global conferences have been drawing record numbers of delegates during these uncertain times. The first conference in the Forex Network series for 2009 will take place at Glaziers Hall in London on Wednesday 1 April and promises a day of insightful discussions and an excellent opportunity to network with peers. […]

FX Vet to Lead Revamped NabCapital

National Australia Bank continues to grapple with a seemingly endless round of restructurings. The latest change at the bank sees it drop its NabCapital brand in favour of Wholesale Banking. The change comes two and a half years after the bank formed the NabCapital brand from the ashes of its institutional markets and services division, […]

Nomura off the IR Mark with LCH

Nomura’s global interbank interest rate business has commenced trading through LCH.Clearnet’s SwapClear platform, making it the 22nd dealer to use the service, but the first from Asia. By clearing interest rate swaps through LCH.Clearnet, Nomura says it is able to benefit from lower counterparty credit and operational risk and more secure collateral handling procedures. “This […]

Icap In Exchange Strategy Re-Think as Lyall Exits

Icap is reviewing its previously announced exchange strategy following the departure of Cathy Lyall, chief operating officer of exchange projects, who was appointed just under a year ago. Squawkbox understands that the exchange projects team has been let go by Icap due to plummeting volumes in exchange-listed derivative products. Another factor in the decision is […]

JPM Analyst to Help Manage Japan’s Reserves

Japan’s Ministry of Finance has, for the first time, tapped the private sector for a senior appointment in the division that manages the country’s enormous pool of foreign exchange reserves. Akihiko Yokoyama has joined the MoF’s Department for International Affairs as a financial markets analyst from JP Morgan in Tokyo where he was head of […]

Gain Buys in Japan

Retail FX provider Gain Capital has acquired a controlling stake in Fortune Capital Co, a privately-owned provider of forex trading services in Japan. A white label partner to Gain since 2002, Fortune Capital maintains a Tier One securities license with Japan’s Financial Services Agency. “The acquisition of Fortune Capital is an important step in our […]

NY FX Fraudster Nabbed in Montreal

The Canada Border Services Agency last week arrested a US currency broker who was convicted of fraud before he went on the run last year. Enforcement officers from the CBSA Investigations Section arrested Thomas Qualls in a subway station in Montral on March 17, following a joint investigation with the United States Marshals Service. Qualls […]

Saxo Bank Opens Milan Office

Saxo Bank has opened an office in Milan in a move to strengthen its position as a foreign exchange trading provider in Southern Europe and to offer local clients a better level of service. Copenhagen-headquartered Saxo Bank says it increased its private client business in Italy by 48% in 2008 compared to 2007. In addition, […]

BarCap Launches CAD Inflation Index

Barclays Capital has launched the CAD Inspire Index, which allows Canadian investors access to liquid inflation markets in a manner designed to mimic Canadian inflation. The new index is the second to be launched in the bank’s Inspire Index family; an Australian index was launched in February (Squawkbox, February 16). The Inspire indices are designed […]