Month: November 2010

On the Move

BofA Merrill, Citi, Goldman Sachs, RBC Capital Markets, Prime Rate Capital Management, Gold-i… Vamvakidis Joins BofA Merrill Lynch Global Research BofA Merrill Lynch Global Research has appointed Athanasios (Thanos) Vamvakidis as head of European G10 foreign exchange strategy, reporting to David Woo, head of global rates and currencies research. Vamvakidis will also head the G10 […]

Tech Corner

A round up of the latest technology news… Foreign exchange broker Gain Capital has launched an enhanced version of its iPhone trading application, making it available to clients in three languages: English, Japanese, and Russian.The free application offers full trading capabilities and order types, along with up to the minute news, charts, research and […]

Around the World

News from China and Australia… China will continue to allow more currencies to trade in the domestic interbank foreign exchange market, following the trading debut of the Russian rouble in China, according to the China Foreign Exchange Trade System. The yuan started trading against the Russian rouble in the onshore market last Monday, the latest […]

And Finally…

Regular readers will know that I am a huge advocate of the FX industry and feel that it should communicate better with the authorities, especially in this era of increased oversight. The deadline for submissions to the US Treasury regarding foreign exchange’s place in the new regulatory regime (see this column in Squawkbox, November 1) […]

OTC Derivatives Market Contracts 4% to $583 Trillion

The global over-the-counter derivatives market contracted 4% to $583 trillion in the first half of this year, compared with a 2% rise in the second half of 2009, according to survey results from the Bank for International Settlements (BIS). Positions in foreign exchange derivatives contracts increased, rising 8% in the first half of 2010 to […]

Electronic Broking Boosts Icap’s Revenues

Interdealer broker Icap has posted first-half year pre-tax profit of 183 million, up 2% from a year earlier, helped by the improved performance of its electronic broking business and post-trade units. Revenue for the six months to 30 September was 867 million, up 9% from 794 million previously. Over 51% of Icap’s operating profits came […]

Digital Vega Launches Multi-Bank FX Options Platform

Digital Vega has launched its FX option trading platform Medusa, which allows market participants to trade a range of FX option structures on prices from up to five relationship-based liquidity providers. As reported last week in Squawkbox‘s ‘And Finally’ column, the first transactions were undertaken by Pareto Investment Management Limited, a currency risk manager which […]

FX Market Lobbies US Treasury for FX Swaps and Forwards Exemption

A lobbying group for the foreign exchange market has provided comments to the US Treasury on the appropriateness of excluding foreign exchange swaps and forwards from the definition of a “swap” under the Commodity Exchange Act in accordance to the authority granted to the Secretary of the Treasury under the Dodd-Frank Wall Street Reform Act. […]

AFME Global FX Division to Begin Trade Repository Selection

The Association for Financial Markets in Europe’s (AFME) Global FX Division is launching a process, on behalf of its members, to select a provider of trade repository services for the foreign exchange market. The move comes in response to Dodd-Frank financial regulation requirements in the US, which call for swap trades to be reported to […]

Socit Gnrale Launches New e-Trading Platform

Socit Gnrale Corporate & Investment Banking has launched an in-house developed electronic trading platform, Alpha FX, providing institutional clients with access to spot, forward and non-deliverable FX prices within an innovative and customisable interface. The bank has become the latest in a new wave of platform providers seeking to use a different, more innovative look […]