Month: May 2011

Changes at Standard Chartered

According to sources familiar with the matter, there have been a number of changes within Standard Chartered’s foreign exchange business. Elder Maxwell is set to join the bank next month as a senior salesperson on the real money funds desk in New York. Maxwell joins from Bank of America Merrill Lynch (BAML) where she was […]

Thomson Reuters Names Redwood Replacement

Thomson Reuters has named Shanker Ramamurthy as president of its Sales & Trading business within the company’s Markets division. Ramamurthy will take up the role on 20 June 2011. With 2010 revenues of $3.5 billion and a workforce comprising 2,700 employees globally, Sales & Trading is Thomson Reuters’ largest financial business serving customers in the […]

Gain Launches GTX Direct

Gain Capital has launched an FX prime brokerage service, GTX Direct, for professional traders. The new prime brokerage service will be offered across Gain Capital’s ECN for institutional and high net worth investors. Gain says GTX Direct allows qualified investors without an existing FX prime brokerage relationship to leverage the firm’s central clearing facilities in […]

Standard Chartered Opens Onshore RMB Account for Portland Steel

Standard Chartered has opened its first onshore Chinese renminbi (RMB) account for South Africa-based metals trader, Portland Steel. “China is an increasingly influential trading partner for us, and the ability to exchange funds with both buyers and suppliers via an onshore RMB account will underpin successful trade relations,” says Roy Grayman, joint-CEO at Portland Steel. […]

WDX Endorses 4th Story for Wocu Trading

WDX Organisation has endorsed technology company 4th Story as its software provider for the Wocu automated trading platform (WTP), a tailorable solution for quoting and trading WDX’s Wocu World Currency Unit. The WTP is designed to decrease the time to market for banks, hedge funds and corporate treasurers interested in and seeking to trade the […]

Alpari Launches Mini FX Options

Alpari US has launched mini options accounts for traders. The launch follows the introduction of Alpari FX options in February this year. The FX options mini account can be used to trade spot and FX options from one margin account with a reduction in minimum trading volume from 1 standard lot of 100,000 to 1 […]

Thomson Reuters Connects to SGX and CME Clearing

Thomson Reuters’s trade confirmation service is now connected to the Singapore Exchange (SGX) and CME Clearing. Thomson Reuters Trade Confirmation is a matching service that facilitates the legal confirmation of trades and the submission of trade details to clearing houses, trade repositories and regulators in real-time. The service is asset-class, central counterparty and trade repository […]

Gold-i Launches Position Keeper Tool

Retail trading systems integrator Gold-i has developed a management tool for brokers, the Gold-i Position Keeper. The tool is a customisable dashboard which helps MetaTrader brokers to understand their exposure to the market on a real time basis. The Gold-i Position Keeper displays information on profit and loss, settlement prices, market prices for each currency […]

On the Move

Macquarie Bank, ICMA… Gormley Joins Macquarie Macquarie Bank has confirmed the appointment of Thomas Gormley as a division director in the firm’s fixed income, currency and commodities division. Gormley will start on 1 August and will be based in New York. His responsibilities will include selling all FX loan products for emerging markets and G7 […]

Tech Corner

The latest technology news… FCStone has implemented SunGard’s Sierra Advanced Margining module to support the expansion of its FX offering to include FX cash and FX derivative products. Sierra’s Advanced Margining module provides brokers and their clients with a centralised workspace in which they can manage real-time margin, fee, trading activity, position, and revaluation calculations. […]