Month: November 2010

Tradermade Taps Clarke for NED Role

Alan Clarke, the former HSBC global head of FX and money market e-commerce, is to take a non-executive director position at UK-based technical analysis firm Tradermade. Clarke, more commonly known as ‘Shoulders’ in the foreign exchange industry, is to work part time in his NED role to engage with Tradermade’s existing and prospective clients with […]

FXCM Sets $13-$15 per Share Price for IPO

FXCM, the New York-based online foreign exchange broker, filed a prospectus to the Securities and Exchange Commission last Monday for an intended initial public offering later this month. The company plans to raise $211 million by offering 15.06 million Class A shares at a price range of $13-$15. At the mid-point of the proposed range, […]

Tradency Upgrades Mirror Trading Platform with Risk Controls

Tradency, a retail foreign exchange technology company, is launching an updated Mirror Trading platform that it says will help traders to minimise their risk. Traders using the Mirror Trading platform will now be able to use a new ‘Pause’ option to set an approximate loss limit in each strategy in their portfolio. Presently, when traders […]

CFTC Charges Pair for Forex Scam

The US Commodity Futures Trading Commission has charged a South Carolina Reverend and a Michigan businessman with operating a foreign exchange Ponzi scheme that fraudulently solicited more than $3.3 million from 70 investors. The defendants, Rev. Ronald Satterfield of Charleston, S.C. and Nicholas Bos of Ludington, Mich., also allegedly misappropriated a significant portion of customer […]

Bloomberg FX Survey Reveals Anxiety on Market Regulations

Bloomberg Foreign Exchange executives say a survey of FX professionals shows there is uneasiness over the impact of regulation and changes to market structure. More than 80% of those polled at a Bloomberg FX conference said they were concerned about the impact of recent regulations on their businesses. The Bloomberg FX survey found that market […]

On the Move

Standard Chartered Confirms Mandell Hire Standard Chartered last week announced that it had hired Christiane Mandell as head of financial institution sales for the Americas based in New York. Mandell’s appointment was first reported by Squawkbox last month (25 October). The role is newly created and Mandell will be responsible for sales of foreign exchange, […]

Tech Corner

A round up of the latest technology news… The Singapore Exchange has begun central clearing of over-the-counter US and Singapore dollar interest rate swaps as it seeks to dominate the fledgling central counterparty clearing business in Asia. Nine banks have been admitted as bank clearing members: Barclays Capital, Citi, Deutsche Bank, HSBC, Royal Bank of […]

And Finally…

Ever since I first came into this job there has been buzz about new challengers to EBS’s domination – and that buzz continues. Several sources I have spoken to are discussing a new project aiming to create a bank-owned ECN to challenge EBS. Now as I inferred at the top of this column, this is […]

Listorti Makes Key FX Hires at ANZ

ANZ Bank has made four senior appointments to its foreign exchange and commodities business as part of efforts to expand its presence in Asia and Europe. The hires were made by global head of foreign exchange and commodities, Eddie Listorti, who joined ANZ in Sydney in September this year (Squawkbox, 13 September). Listori was previously […]

CitiFX Expands Beta Indices

Citi has launched an updated group of its CitiFX Beta Indices, offering investors a flexible way to access foreign exchange as an asset class. CitiFX Beta Indices are designed to capture the returns available from common currency trading styles in prevailing market conditions. The indices use a monthly ranking system to determine which currency pairs […]