Month: June 2010

UBS In Two Big Sales Hires

UBS has bolstered its foreign exchange business with two market veterans who are set to join the Swiss bank in London next month. George Athanasopoulos is joining UBS as global head of FX distribution, effective 5 July, according to an internal announcement seen by Squawkbox. He will report to Roberto Hoornweg, the recently appointed global […]

Bache Commodities Expands FX Team

Bache Commodities, the London-based commodities and financial derivatives subsidiary of Prudential Financial, has strengthened its foreign exchange team with two senior hires. Jonathan Webb has joined as head of FX strategy and former market analyst George Tsiourvas has been appointed vice president, FX sales.Both report to Matt Ardizzone, the New York-based global head of foreign […]

More Hires for Credit Suisse FX in Asia Pacific

Credit Suisse has expanded its global foreign exchange sales platform in Asia Pacific with six appointments in Japan, Singapore and Hong Kong. The hires underscore the bank’s efforts to expand its flow business and enhance its fixed income product coverage. Carsten Stoehr, Credit Suisse’s head of fixed income Asia Pacific, says: “Asia Pacific represents one […]

Popofsky Exits BNPP; Nunn Takes Over

Garry Popofsky has left BNP Paribas in New York where he was head of foreign exchange and emerging markets sales for the Americas. The bank says Popofsky’s responsibilities have been assumed by George Nunn, who will lead the FX sales-to-investor teams in New York and Montreal, the Latin American corporate derivative and FX sales team […]

McDonnell to Join BAML FX Prime Brokerage

Mark McDonnell is joining Bank of America Merrill Lynch’s foreign exchange prime brokerage team next month as managing director and head of EMEA FX prime brokerage sales. McDonnell will be based in London and will work with the FX sales and prime brokerage teams to cross-sell the bank’s product offerings. With more than 14 years […]

China Opens Up RMB Trade Settlement

The People’s Bank of China last week expanded renminbi cross-border trade settlement from two to 20 provinces, municipalities and autonomous regions in China. China’s central bank and the finance and commerce ministries said that a pilot program for using renminbi in cross-border trade had been “smooth, in good order, convenient, and popular among enterprises and […]

BBVA Live with Progress Apama for FX Aggregation

Banco Bilbao Vizcaya Argentaria (BBVA) is live on Progress Software’s Apama FX Aggregation Accelerator for its foreign exchange operations. BBVA FX traders are now using the Progress Apama platform along with its customised dashboards to view and trade across aggregated liquidity from a number of banks and FX electronic communication networks. The FX aggregator also […]

LCH.Clearnet Plans US Swap Clearing Launch in Late 2010

LCH.Clearnet, Europe’s largest independent clearinghouse, is seeking regulatory approval to offer its SwapClear service to US-based bank clients as regulators globally seek to expand central clearing of privately traded derivatives. LCH.Clearnet intends to launch futures commission merchant (FCM) access to SwapClear in late 2010. The FCM model will offer access to the interest rate swaps […]

Nasdaq OMX to Clear Interest Rate Swaps

Nasdaq OMX has launched a pilot project to offer central counterparty clearing of interest rate swaps in Swedish kroner in anticipation of tougher rules on derivative trading as European and US regulators push for financial market reform. The exchange group has launched the pilot project together with SEB Bank and the Swedish National Debt Office, […]

BNY Mellon Launches New Derivative Clearing Company

The Bank of New YorkMellon has unveiled a new unit that will clear futures and derivatives trades on behalf of institutional clients. The company, BNY Mellon Clearing, is a US registered futures commission merchant and a member of the National Futures Association. It plans to become a clearing member on major exchanges and central clearinghouses […]