Month: April 2011

Tech Corner

The latest technology news… CIMB, a Malaysian investment bank, has chosen Quantifi, an analytics, trading and risk management firm, to support its pricing and risk analytics activities with the Quantifi XL programme. The bank will use the Quantifi XL to support its current in-house analytics, with particular attention on credit products. The programme works by […]

And Another Thing…

I sense the heat is being turned up over the implementation of regulatory reform, otherwise why would a CFTC commissioner feel the need to criticise plans to delay Dodd-Frank implementation and a central bank committee state publicly that some nations need to take “concrete” steps “immediately”? It was always going to be a tricky task, […]

Credit Suisse Suffers AES Departures

Credit Suisse’s FX Advanced Execution Services (AES) business has been decimated by three departures in a week according to market sources. The sources say that Ben Weinberg, vice president, senior sales, AES FX, left the bank last week to join Goldman Sachs in London in an e-FX sales role. Just days after his departure, David […]

RFP Goes Out for FX Repository

The Global FX Division, formed by the Association for Financial Markets in Europe (AFME), has issued a request for proposal (RFP) to select a provider of trade repository services for the FX market. The request is a result of the Dodd-Frank regulation in the US, which requires particular FX trades to be reported to a […]

AcadiaSoft Launches Online OTC Platform

Collateral management firm, AcadiaSoft, has launched a Web-based portal to improve operational efficiency for buy and sell side market participants, focusing on workflow in the OTC derivatives market and collateral management. The portal provides an automated venue from which users can receive, send and confirm margin calls, instead of current practice which utilises email, fax […]

Senior Hires for Citadel

Citadel has made two senior hires for global rates. Steven Goldberg and Edwin Lin are set to join the firm next month as senior portfolio managers in the global fixed income team, both reporting to Derek Kaufman, head of global fixed income. Goldberg was most recently fixed income portfolio manager for the interest rate options […]

CFTC Bans Delaware Firm…

The US Commodity Futures Trading Commission (CFTC) has won a court order to shut down a Delaware-based firm, which allegedly solicited investors dealing with FX transactions. Wall Street Brokers LLC was sued by the Commission in January as it was not registered as a foreign exchange dealer, despite operating as one. The action was taken […]

…Charges Californian Firm With Forex Fraud

The US Commodity Futures Trading Commission (CFTC) has charged Lyndon Lydell Parilla and his company Green Tree Capital, of Woodland Hills in California, with running a multi-million dollar FX scheme since 2009. The complaint was filed on April 12, 2011 in Massachusetts, and Parilla was served with a restraining order so his assets were frozen […]

Research Indicates Machine Readable OTC Derivatives Nearing

Results from a joint study conducted by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) states that the adoption of machine-readable OTC derivatives contracts are becoming ever more likely. Findings from the study commissioned in July 2010 under a Dodd-Frank mandate, support recent regulatory efforts to introduce more automation in […]

Deltix and Financialogix Announce Technology Deal

Alpha generation and execution strategy firm, Deltix Inc., and electronic FX trading technology company, Financialogix Group Inc., have amalgamated their technology offerings. Deltix’s QuantOffice and QuantServer products have been integrated with Financialogix’s XStream Aggregator. The partnership results in a turnkey platform for systematic FX trading which allows users to create and back-test FX trading strategies […]