Month: April 2009

Tech Corner

Sydbank, Denmark’s fourth-largest bank, has selected Wey Technology‘s products to redesign its trading floor. The bank opted for Wey’s Allocation System which enables users to share resources such as market data, giving the bank hot-desking capabilities. Currently, there are 90 traders at Sydbank trading foreign exchange, equities and commodities. The bank went live with its […]

Around the World

A sigh of relief at Squawkbox last week. Regular readers may recall a report we ran in this section of Squawkbox (January 19) about a market commentator on trial in South Korea. The man in question, Park Dae-sung, predicted the collapse of Lehman Brothers as well as the global financial meltdown and was accused by […]

And Finally…

It was suggested to me last week that for all the predictions of a “different” foreign exchange market following the collapse of Lehman Brothers and the ensuing credit crunch, nothing much has changed. Among the predictions expressed to me over the past few months have been: that several second tier banks will suddenly become first […]

Parker and BlackTree Launch Currency Indices

Parker Global Strategies, creator of the Parker FX Index, has partnered with BlackTree Investment Partners, a London-based investment management firm founded by ex-Lehman Brothers executives, to create and launch a new suite of currency indices. The Parker BlackTree Currency Indices (PBCI) is designed to highlight the spectrum of investment opportunities available to investors seeking absolute […]

Breaking News: Parker and BlackTree Launch Currency Indices

Parker Global Strategies, creator of the Parker FX Index, has partnered with BlackTree Investment Partners, a London-based investment management firm founded by ex-Lehman Brothers executives, to create and launch a new suite of currency indices. The Parker BlackTree Currency Indices (PBCI) is designed to highlight the spectrum of investment opportunities available to investors seeking absolute […]

NFA Moves on Hedging and Price Adjusting Practices

The National Futures Association (NFA) has issued two rule changes following a review by NFA staff of certain practices “that must be addressed” – specifically those involving hedging and post-trade price adjustments by the brokers. The new rule tackles the issue known to forex dealer members (FDM) as “hedging”, whereby a client is able to […]

CIBC Strengthens FX Business with Senior Hires

The wholesale banking arm of Canadian Imperial Bank of Commerce (CIBC) has strengthened its fixed income, currencies and distribution business with two senior appointments. Andre LaJeunesse, who will be based in Singapore, is joining as managing director and head of fixed income, currencies and distribution for the Asia region. He has 19 years’ experience in […]

Standard Chartered Expands Leighton’s Role

Standard Chartered has appointed Richard Leighton as head of trading for fixed income, Europe. The role is in addition to his current responsibilities as global head of foreign exchange. In his new capacity, all fixed income traders in London will report into him as well as into their respective global heads of credit, rates and […]

NY Fed Unveils New Markets Head

The Federal Reserve Bank of New York has appointed a new head of its Markets group, which lists foreign exchange market operations among its responsibilities. Brian Sack has been named executive vice president of the New York Fed and head of its Markets group. He succeeds William Dudley, who was named president and chief executive […]

Busy March for CLS

CLS Bank, the utility established to reduce settlement risk in foreign exchange markets, had its third busiest month in its history in March. Average daily volume of instructions was 598,682 – a mark only surpassed last September and October as the Lehman’s crisis first brewed and then broke. Average daily value settled in March was […]