Month: August 2011

Global FX Volumes Surge in April 2011

The latest round of semi-annual foreign exchange reports from the world’s central bank FX committees shows that turnover continues on an upward path with London maintaining its status as the world’s largest FX trading centre. Foreign exchange turnover in the UK grew by 23% in the six months to April, taking the daily average to […]

CLS Bank Handled More Spot, Forwards in April, Fewer Swaps

To coincide with the FX committees’ data, CLS Bank has released its global FX data figures for April 2011. The currency settlement system provider says that it handled more spot and outright forwards trades per day in April compared with October, and fewer currency swap trades. Average daily volumes in spot trading rose 9% in […]

Fyshe Horton Finney Partners with FX Bridge to Offer Options Trading Technology to Brokers

Fyshe Horton Finney, a UK-based stockbroker and investment manager, says it will offer trading technology and related credit services to brokers that want to enable their retail and high net worth clients to trade foreign exchange options. The firm will offer the new FX options package to its existing portfolio of customer trading platforms which […]

CLS Appoints CTO

CLS Group has appointed Sankar Aiyar as chief technology officer, a newly created role that the company says will be integral to its future. Aivar, who was previously with Citi, joins the senior management team and reports directly to CLS chief executive officer, Alan Bozian. At Citi, Aiyar was a managing director, responsible for aligning […]

Saxo Bank Acquires 25% Stake in Leverate…

Saxo Bank has acquired a 25% stake in Leverate, a technology provider for the retail broking sector, in a move to provide banks and brokers with non proprietary services including the popular MetaTrader4 platform. In return, Saxo will support Leverate with its market presence, liquidity and industry knowledge, the companies say in a statement. UK […]

…Launches FX Binary Touch Options

Saxo Bank has launched binary touch options on its trading platform in six of its most liquid currency pairs: EURUSD, USDJPY, GBPUSD, EURJPY, EURGBP and AUDUSD. The options are tradable from Saxo Bank’s FX Options Board tool, where clients are already able to trade regular FX vanilla options. Saxo Bank says it will allow clients […]

On the Move

Deeny and Jackson to Join HSBC Simon Deeny will join HSBC as head of corporate sales, EMEA in October with responsibility for running public side sales across FX, flow and structured rates and commodities, a bank spokesperson says. Deeny was previously a managing director with the Royal Bank of Scotland in London. At RBS, Deeny […]

Tech corner

BlackRock, one of the world’s largest asset managers, has cleared its first two interest rate swap trades on LCH.Clearnet’s Swapclear service, giving the European clearinghouse a helping hand in its efforts to break into the US market. BlackRock executed one of the trades with Barclays Capital and the other with Goldman Sachs. The trades were […]

Around the World

The Brazilian government unveiled a tax on foreign exchange derivatives last Wednesday, knocking the real back from a 12-year high in its latest bid to curb the currency’s rally that is hampering local industry. As part of the measures, the government is levying a 1% tax on trading that results in a net bet the […]