Month: June 2009

On the Move

First Republic, Tullett Prebon, ClientKnowledge and SunGard… First Republic Hires FX Head First Republic Bank has appointed John Riley as managing director of foreign exchange. Riley, who has 20 years of banking and currency risk advisory experience, will help manage the FX needs of clients in New England and New York. He will be based […]

Tech Corner

A round up of the latest software news… California-based Union Bank has gone live with Misys Opics Plus v3.0, the latest release of Misys’ treasury and capital markets operations system, to support its foreign exchange and money markets treasury operations. Misys’ Opics Plus platform processes vanilla and complex derivatives, fixed income, equity and treasury trades. […]

Around the World

Tickets to see Madonna, currency union on hold, and another glass half-empty moment… The Futures for Kids charity has a pair of tickets for sale to see Madonna at the O2 on 4 July. The tickets were donated by Eurex for auction at the IDX Gala Dinner, held earlier this month. The tickets include: pre-event […]

And Finally…

Last week’s comments about benchmarking elicited quite a few responses – and for once not all of them were abusive. In general the consensus was, to paraphrase Winston Churchill, that benchmarking is the worst possible function for measuring performance and risk, apart from all the other methodologies available. I was particularly struck, however, by the […]

C-Views Adds Strategist

Currency manager C-View, which has in excess of $800 million of assets under management, has appointed Adrian Schmidt to its currency investment management team. Schmidt is assuming the role of head of research and strategy at the firm. He has over 22 years’ experience of analysing economies and financial markets, currency research and creating trading […]

CLS FX Settlement Volumes Rise in May

Average daily volume of FX payment instructions rose in May, reversing a slide in April, according to data from FX settlement system provider CLS Bank. The average daily volume of payment instructions was 562,340 in May, up 10.5% from 508,787 in April. The rise follows a 15% slide in April compared with March when average […]

On the Move

Nomura, BofA Merrill and Newedge… McCormick Heads to Nomura Jim McCormick is heading to Nomura in London to run the banking group’s fixed income research in Europe, according to market sources. It is understood McCormick will be reporting to Richard Gladwin, global head of foreign exchange trading. Nomura’s fixed income research business covers rates, FX, […]

CME Adjusts Fee Structure

CME Group will introduce wide-ranging changes to its trading fee schedule in the third quarter this year. The fee changes, described in a document on CME’s website, reduce prices on some products and raise them on others. The exchange says it is continuing with its practice of providing incentives to liquidity providers and high volume […]

IDX Gala Dinner Raises 130k for Futures for Kids

The Futures for Kids (FFK) charity raised in excess of 130,000 at the IDX Gala Dinner, held on 10 June and hosted by the Futures Industry Association (FIA) and the Futures and Options Association (FOA). The dinner included live and silent auctions with items ranging from works of art, sporting memorabilia and experiences such as […]

And Finally…

There are times when I really do wonder about our industry – and last week was one of those times due to dodgy US bonds and risk management. Several friends contacted me during the week and were kind enough to forward me market commentary that suggested the US dollar was going to collapse because two […]