Month: September 2010

And Finally…

My week in Chicago for Forex Network (and I thank the more than 530 registrants for making this our biggest event to date) in many ways epitomised the mood of the FX industry – confusion (I went to the wrong party); determination to make the best of it (I was trapped in an elevator at […]

Squawkbox RSS Feed Available

The Squawkbox RSS Feed is now available. Subscribe to the feed to get the latest FX news as soon as it is posted on our website. http://www.profit-loss.com/rss.php?feed=Squawkbox

Thomson Reuters Unveils Eikon Desktop

Thomson Reuters has launched its next-generation desktop for financial professionals, bringing together its full range of market information, news, analytics and trading tools with web-style search, navigation and social networking technology. The new product, called Eikon, brings together in one platform dozens of disparate financial data products dating from the merger of the former Thomson […]

Profit & Loss Forex Network Chicago Conference to Take Place 22-23 Sept

More than 400 people have registered for P&L’s Forex Network Chicago, which takes place this week on 22 and 23 September at the Mid-America Club, 200 East Randolph Drive. With a keynote address by Michael Nelson, assistant general counsel and senior vice president at the Federal Reserve Bank of New York, Forex Network Chicago promises […]

Gain Capital Acquires MG Financial’s Retail FX Business

Gain Capital Holdings, a provider of online foreign exchange trading services, has reached an agreement to acquire certain assets of MG Financial’s US operations. Under the agreement, online FX broker MG Financial will transfer approximately 4,000 customers to Forex.com, the retail division of Gain Capital. MG Financial has been offering online trading services since 1997. […]

HSBC Hires Wertheimer for e-Sales

HSBC has appointed Jeff Wertheimer as senior vice president and head of electronic-sales for North America, a spokesperson confirms. Wertheimer will join the bank in New York in October and will report functionally to Oni Banurji, global head of e-sales, and locally to Chris Peters, head of FX sales for the Americas. Wertheimer was previously […]

Hotspot FX Volumes Down in August

Hotspot FX recorded average daily volume in August of $31 billion, a decline of 6.3% from July’s $33 billion. However, year-on-year, volume increased by over 38% with total volume in August 2010 at $681.2 billion. Comparing August to July volume, activity increased the most in the Asian and European sessions versus the American sessions, where […]

FOA Voices Concerns as EC Publishes Draft Reforms

The Futures and Options Association has welcomed the publication of the European Commission’s proposed regulation on over-the-counter derivatives, central counterparties and trade repositories, but has expressed concern over the size and complexity of the proposals. The EC unveiled a blueprint last Wednesday to tighten controls on derivatives in one of its most ambitious financial reforms […]

AIMA Welcomes OTC Derivative Proposals

The Alternative Investment Management Association (AIMA), a global hedge fund industry association, says the proposals on over-the-counter derivatives published last Wednesday by the European Commission could help remove uncertainty and confusion in the market. Many aspects of the draft regulations on OTC derivatives are to be supported, AIMA says. “There is a strong financial stability […]

ENAP Signs Agreement with Santander for FX Management

Santander Global Banking & Markets has signed a four-year contract to manage $6 billion a year in foreign exchange trading for Chile’s state oil company Empresa Nacional de Petrleo (ENAP). ENAP, which is the country’s main provider of fuel products, says it is the most active company in Chile’s FX market due to oil import […]