Month: August 2009

And Finally…

It was the sort of line that was always going to grab my attention – “can a forex mentor help you to become a profitable trader?” The question was posed on a blog and got me thinking – no, not about whether it is a good idea or not, that is much too sensible. No, […]

Treasury Sends OTC Derivatives Bill to Congress

The Obama Administration last Tuesday formally sent Congress its proposal seeking to impose new oversight on over-the-counter derivatives by forcing many of the products to trade on regulated exchanges or electronic venues. The draft legislation, which is designed to bring transparency to, and prevent manipulation in, a $600 trillion global market doesn’t stray far from […]

UBS Hires Across FICC in Drive to Build Business

UBS has made more than 20 senior hires for its fixed income, currencies and commodities (FICC) division in an effort to recapture profits after heavy losses in the credit crisis. In an internal memo to staff last week, Carsten Kengeter and Jeff Mayer, global co-heads of FICC, said the hires have been made globally across […]

CIBC Relocates FICD to Hong Kong

Canadian Imperial Bank of Commerce has relocated its fixed income, currencies and distribution (FICD) operation in Asia from Singapore to a new office in Hong Kong as it seeks to expand in China and North Asia. “The decision follows a review of opportunities to strengthen client relationships and grow our fixed income, currencies and distribution […]

SocGen Hires Duo for FX Derivatives and IR Business

Socit Gnrale Corporate and Investment Banking has made two senior appointments in its interest rates and foreign exchange derivatives business as it seeks to strengthen its coverage of North American corporates. The bank has hired Anna Faustini as managing director and head of FX corporate sales for the US and Canada and Peter Toolan as […]

CFTC Proposes New Account Class for OTC Derivatives

The Commodity Futures Trading Commission (CFTC) is seeking public comment on a proposal to create a separate account class for OTC derivatives. The new class would include derivatives that a futures commission merchant carries for a customer and submits for clearing through a derivatives clearing organisation. The creation of this class would allow protections to […]

FXall Adds to Liquidity Providers

France’s fourth largest banking group, CIC, has signed up as a liquidity provider on FXall. In addition, the French group has opted to participate on the recently launched FXall Trading, which combines bank relationship and anonymous trading on one platform for active traders (Squawkbox,16 March), and has taken Treasury Center, FXall’s client relationship tool. All […]

FCStone Rolls out TwoFour for FX

FCStone has completed a rollout of the TwoFour System in its Chicago office for trade processing and managing proprietary foreign exchange positions and P&L. Prior to the TwoFour System implementation, FCStone used a series of internally developed systems and manual processes to manage positions. In order to gain a competitive advantage, FCStone sought a new […]

Interbank FX Launches Private Label Platform in Korea

Interbank FX has launched a private label version of its proprietary MT4 online trading platform in South Korea to capitalise on the country’s fast-growing margin forex trading industry. The platform offers a customised, scalable, and branded platform, global liquidity and proprietary back-office technology and support. There are no start-up costs and no management/licensing fees, the […]

Markit and DTCC to Launch MarkitSERV on Sept 1

Markit and The Depository Trust & Clearing Corp. (DTCC) will be launching MarkitSERV, a joint venture that is intended to be a one stop shop for processing over-the-counter derivatives, on September 1. MarkitSERV will combine the two organisations’ electronic trade confirmation and workflow platforms – DTCC Deriv/SERV and Markit Wire – to provide a single […]