Month: October 2011

Tech Corner

A round up of the latest technology news… The FX Empire Network has launched, a community website for foreign exchange traders. The website has been in development for the last year and includes trading strategy and broker videos, charts and news articles. There are also guides to help individuals find a forex broker to […]

And Finally…

There are many things in life that worry me, as regular readers will confirm, but two things in my professional life I don’t quite get are: who comes up with the correlations that the market suddenly slavishly adheres to? And are bank trading and sales teams really client-centric? I only bring these two themes up […]

Lawsuits Mount for BNY Mellon

The woes overshadowing BNY Mellon’s FX business regarding alleged overcharging of pension funds have been exacerbated with news that funds in California and Massachusetts have also lodged lawsuits claiming the bank over-charged for so-called “standing instruction” FX trades. Employee retirement funds in Los Angeles and surrounding counties are claiming that BNY Mellon said it would […]

And Another Thing…

Profit and Loss, in association with the Financial Markets Association – Canada, will hold its second annual Forex Network Canada Conference on 9 November at the Toronto Board of Trade. The conference will feature a mix of keynote presentations and panel discussions aimed at highlighting the key issues and challenges facing market participants and service […]

Thomson Reuters Creates Marketplaces Group

Thomson Reuters is creating a new group called Marketplaces as part of a move to combine its Sales and Trading and Investment and Advisory businesses. The two businesses operate within Thomson Reuters’ Markets division which the company plans to disband early next year, along with its other division, Professional. Thomson Reuters said it will transition […]

BAML Appoints Klein as Global Head of FX PB

Bank of America Merrill Lynch has appointed Peter Klein as global head of foreign exchange prime brokerage, according to an internal memo seen by Squawkbox. Klein is based in London and started at the bank last week. He will report to Peter Johnson, who, as previously announced, will be joining the bank on 31 October […]

Shey Resurfaces at RBS

Fabian Shey, the former global head of FICC distribution at UBS, has joined RBS Securities in Stamford, CT as global head of futures, prime services and electronic markets. Shey, who left UBS in March this year, will be responsible for overseeing all the products and services included in the bank’s Prime Services suite, including futures, […]

BRICS Exchanges Form Alliance

Securities exchanges from five of the world’s largest emerging markets have formed a joint initiative to offer investors access to their economies and to increase the liquidity of their trading venues. The exchanges from Brazil, Russia, India, Hong Kong and South Africa – which accounted for 18% of the volume of listed derivative contracts traded […]

EU Unveils Tougher Financial Rules

The European Commission on Thursday unveiled a series of wide-ranging measures designed to extend its regulation of the over-the-counter derivatives markets. The Markets in Financial Instrument Directive proposals, or MiFID II, are part of a global effort to make the markets more transparent after a commitment by the Group of 20 nations in 2009. The […]

Survey Sees Swaps Liquidity Improving Post-Dodd Frank

A survey conducted by Tabb Group finds that despite the risks to liquidity posed by CFTC proposed regulation, over the long term nearly 75% of existing swap dealers believe liquidity will ultimately improve in the post-Dodd-Frank Act era. This is due to increased market participation, further product standardisation and electronic trading access, they say.   […]