Month: July 2009

Morgan Stanley Appoints Global Head of Trading

Morgan Stanley has appointed Jack DiMaio as global head of interest rate, credit and currency trading, replacing Roberto Hoornweg, who is leaving the firm. DiMaio, who previously served as the head of fixed income at Credit Suisse in North America, as well as the head of alternative investments at Credit Suisse Asset Management and was […]

EBS Sees Rise in NDF Trading

Icap’s EBS trading platform says it has seen a continued increase in cross-regional counterparty trading of non-deliverable forwards (NDFs) currency products on the platform for the months of March to June 2009. “In spite of overall challenging market conditions, we have seen a steady increase in global counterparty participation, particularly over the last few months,” […]

ICE Offers Buy Side Access to Clearing

IntercontinentalExchange (ICE) says it has developed a solution that provides segregation of customer funds and positions in credit default swap (CDS) clearing. The solution, which will enable buy-side participation in CDS clearing, is expected to be introduced in October 2009, subject to regulatory approval. ICE claims its buy-side solution offers a “roadmap” for the industry’s […]

Fed Unveils Investor Advisory Committee

The Federal Reserve Bank of New York is increasing its interaction with the financial markets through the establishment of an Investor Advisory Committee on Financial Markets (IACFM). The Fed says the committee will serve as a forum for informal discussions on financial, economic and public policy issues and help inform New York Fed president William […]

Three More Join CLS/Icap Venture

Bank of America, Credit Suisse and Morgan Stanley have joined the CLS/Icap joint venture to provide foreign exchange trade aggregation services. The three join the original four banks to support the venture – Citi, Deutsche Bank, JP Morgan and The Royal Bank of Scotland – when it was first announced in early April (Squawkbox, April […]

e-Mid Rolls Out New Platform

Overnight index swap and deposit trading provider e-Mid has launched its new platform, which was developed and managed by trading technology company List. The new platform will service 250 member banks and follows the initial agreement in October 2008 for the development of the new platform infrastructure. Francesco Cesarini, e-Mid’s president, says that the two […]

Trading Volumes up on DBFX, Soar in Middle East

DbFX.com, Deutsche Bank’s online retail foreign exchange trading platform, has reported a 37% increase in trading volumes globally in the first quarter of 2009 over the same period last year, as retail traders continued to favour FX over equities and bonds. The Middle East was once again one of DbFX’s best performing regions. The firm […]

LCH.Clearnet Launches Clearing for OIS

European clearing house, LCH.Clearnet has launched clearing for overnight index swaps (OIS) contracts through its over-the-counter interest rate swap clearing service, Swapclear. An OIS is a fixed or floating interest rate swap with the floating leg tied to a published index of a daily overnight rate reference such as the sterling overnight interbank average (Sonia) […]

Dow Jones Links with MIG

Dow Jones Newswires has signed an agreement with Swiss-based FX broker MIG Investments to provide real-time streaming news and information in Chinese, Russian, French, Spanish, Italian and Arabic directly to MIG Investments’ clients via MIG’s dedicated research site. The agreement strengthens an existing relationship in which MIG Investments offers its online foreign exchange trading clients […]

Cortal Consors Launches FX Trading with Saxo Bank

Cortal Consors, an online brokerage subsidiary of BNP Paribas, has launched a trading service through a partnership with Saxo Bank. Cortal Consors’ new online platform offers clients direct access to foreign exchange and CFD (contract for difference) markets on over 6,500 financial products. Together with Saxo Bank, Cortal Consors has extended its range of financial […]