Month: March 2010

On the Move

The latest moves at Deutsche Bank, Citi, Barclays Capital, MF Global… Deutsche Bank Hires in FX Sales Deutsche Bank has made two hires for its foreign exchange sales business in London. Andrew Bown has joined the FX institutional sales team from Barclays Capital where he was a senior FX options trader. He reports to David […]

Tech Corner

A round up of the latest technology news… Alternative investment manager Hyman Beck and Co. has licensed GFI Group‘s Fenics Professional software for the pricing and risk management of its FX options business. The agreement includes Fenics Pricing, Analysis, and Structuring modules. Retail forex broker FXCM Holdings has opened its latest office, FXCM Germany, in […]

Around the World

Porridge for Scammers and yet another secret of forex trading… Two more scammers get to taste prison food. A New York judge has sentenced the architect of an FX Ponzi scheme to 15 years and six months in prison, following a guilty plea lodged in 2008 of charges relating to defrauding investors of $66 million. […]

And Finally…

I don’t know whose hand was on my backside but as entrances go, this one was slightly less than dignified. One minute I was enjoying the unwind of the ACI Gala Dinner, the next I was on stage with the band as they played a Barry Manilow song! I only reflect upon this face down, […]

Caramanli to Oversee UBS Cross-Asset Trading Initiative

UBS, the Swiss bank that last month hired Hishaam Mufti-Bey Caramanli, the brains behind Morgan Stanley’s Matrix platform, is investing in a cross-product trading platform and has appointed Caramanli to oversee the initiative. In an internal memorandum to staff, Roberto Hoornweg, global head of securities distribution, and Ruwan Weerasekera, COO of securities, said the new […]

JP Morgan Extends AlgoX to Bloomberg

JP Morgan has extended its algorithmic order execution tool, MorganDirect AlgoX, to the Bloomberg platform. AlgoX was first launched on MorganDirect, JP Morgan’s institutional FX and rates trading platform, at P&L’s Forex Network Chicago conference in September last year. In its first iteration AlgoX included traditional volume weighted average price (VWAP) tools and the ability […]

JP Morgan Launches MorganDirect iPhone App

JP Morgan has launched an Apple iPhone application for MorganDirect, its FX and rates trading platform for institutional users. The release is another step forward on the part of banks to provide their e-trading platforms on mobile technology. “We are excited that MorganDirect is the first institutional FX trading platform to be made available via […]

Delelis Steps Down as Credit Suisse FX Chief …

Alain Delelis has stepped down from his role as head of global spot FX at Credit Suisse, according to several market sources in London and New York. Sources at Credit Suisse say that Delelis is still working for the bank but has given up his management responsibilities, which have been taken over on an interim […]

… As Credit Suisse Hires for e-FX

Credit Suisse is strengthening its electronic trading franchise with the hire of Nick Barker from rival UBS. Barker will head FX e-commerce for the bank in London. Barker was previously an executive director within UBS’s fixed income, currencies and commodities business and FX e-commerce programme manager. It is understood that he will be joining Credit […]

JP Morgan Lures Mercadante

JP Morgan has hired Ernesto Mercadante in London to head its Southern Europe and Central, Eastern Europe, Middle East and Africa (CEEMEA) FX sales business. Mercadante was previously with Goldman Sachs in London, working in European FX sales. It is understood that he will start at JP Morgan in June and will report to the […]