Month: August 2011

BNY Mellon Clearing Joins CME Group for IRS Clearing…

BNY Mellon Clearing has joined CME Group as a clearing member firm in order to clear over-the-counter interest rate swaps on behalf of its institutional clients. As a result of recent regulatory changes, it is expected that a large percentage of derivatives transactions will be cleared through central clearinghouses. ”The standardisation of OTC derivatives and […]

…As GF Futures Becomes First Chinese Trading Member of SGX

Brokerage house GF Futures (Hong Kong) has become the first Chinese trading member of Singapore Exchange’s (SGX) derivatives market in a move it says is an important step for the internationalisation of the China-based GF Group. Cheng Xiao, general manager of GF Futures says, “By joining SGX, we will further enhance our understanding of Singapore […]

On the Move

Citi Appoints CEEMEA FX Options Trader Citi has appointed Gagan Singh as an associate in the CEEMEA FX options trading team, based in London. Singh will be trading Turkey, Russia and Romania vanilla options and first generation exotics. Singh joins Citi from Goldman Sachs where he traded CEEMEA options. Most recently he ran the Polish […]

Tech corner

Brazilian derivatives trading firm Link Investimentos is now deploying Trading Technologies’ (TT) low-latency hosting solution TTNet to provide access to BM&Bovespa for institutional clients and internal execution desks. Link’s global customer base will gain access to TT’s suite of order-entry software and server-based algorithmic execution tools through TTNet’s proximity hosted architecture. Gateways and server-based engines […]

FX Firms Becoming More Algo Savvy: StreamBase Survey

Results from StreamBase’s latest foreign exchange survey show that firms are becoming more sophisticated in adopting algorithmic trading to gain control over their FX transactions. StreamBase’s study, FX Trading and Technology Trends in 2011, released today, shows that 43% of survey respondents use algorithms for FX trading – about the same as last year – […]

Hastings Joins BT Prime London as CEO

David Hastings has joined Boston Technologies, a provider of trading technology and software for institutional and retail forex brokerage firms, as managing director of London and CEO of BT Prime UK, its prime brokerage affiliate, where he will oversee all operations in the region. The appointment is in addition to Hastings’ non-executive role at UK-based […]

Banks Leaves BNP Paribas

Clive Banks has left BNP Paribas in London where he was global head of foreign exchange and local markets sales. Sources familiar with the situation tell Squawkbox that Banks will be pursuing personal business ventures outside of the industry. A spokesperson for BNP Paribas confirmed the departure but declined to comment further. Banks was appointed […]

Shanghai Rural Commercial Bank Hires Chan to Build FX Business

David Chan has joined Shanghai Rural Commercial Bank (SRCB) as deputy general manager, Trade Financing Department with responsibility for building a Markets FX business, the bank said in a joint statement with Australia and New Zealand Banking Group. ANZ entered into a strategic long-term partnership with Shanghai Rural Commercial Bank in 2007 and now has […]

FX Fifty Five Deploys FlexTrade

FX Fifty Five, the foreign exchange agency division of Market Securities Kyte Group, has deployed MaxxTrader, a white label trading platform from FlexTrade Systems. Recently founded by ex-Marex managers, Adil Soyfoo and Nathan Halfon, FX Fifty Five is an electronic FX markets execution venue delivering low latency access to tailored FX liquidity pools via GUI […]

DGCX Sees Rapid Rise in Currency Trading

The Dubai Gold and Commodities Exchange (DGCX) says that year-to-date trading volumes surpassed the two million contracts mark on 12 August 2011, the first time since inception. The high volume was buoyed by trading in currencies and precious metals. By close of trading on 12 August, 2,005,566 contracts, worth $98.7 billion, had been traded, representing […]