Day: November 8, 2011

P&L’s Squawkbox

London September a good month for platforms. September proved lucrative on a year-on-year basis for the major trading venues. Icap says average daily spot FX volume on its EBS currency trading platform in September was $183.1 billion, an increase of 25% over the previous year although slightly down on August’s $186.9 billion. Average daily FX […]

Campbell & Co’s Mike Harris: Taking it to the Street

Julie Ros: From your vantage point on the buy side, how do you see the banking industry preparing for Dodd-Frank?Mike Harris: There seem to be two camps: one includes those banks that are fully preparing, in terms of investment, technology and people, for what they think is coming, and the other consists of those that […]

Armstrong Steps to CIBC

Paul Armstrong has joined CIBC in London as executive director with the financial solutions group (FSG). He has over 20 years of foreign exchange sales and trading experience and most recently worked for Unicreditbank/Hypoveriensbank in London as a director in FX sales. At CIBC, Armstrong will focus on cross product sales and initiatives to grow […]

Wilson-Taylor Joins World Currency USA Board

Simon Wilson-Taylor, previously global head of FICC e-Commerce at UBS, has joined the board of directors of World Currency USA, a wholesaler of foreign exchange services for community banks. Wilson-Taylor spent two years at UBS in Stamford, CT, where he was responsible for all aspects of electronic delivery of FX services. He left UBS in […]

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 Profit & Loss. Klein is based in London and started at the bank last month. He reports to Peter Johnson, who joined the bank on 31 October as global head of […]

Loonie Backs Off Parity Through Year-End

Concerns about the European debt crisis – which have lingered for more than a year – flared in late summer and into the fall and now look as though they will weigh heavily on the global economic landscape heading into 2012. Increased worries about European banks have hit global financial stocks and undercut credit markets. […]

10 Years Ago in [i]Profit & Loss[/i]

The more things change… The global economy was in trouble in late 2001 as the tech bubble burst and the US coped with the aftermath of 9/11, including a war in Afghanistan. Share values were slashed and investment dollars dried up. Not a good environment then for emerging markets (this is the bit where things […]

FXCM Fined $14.2 Million by CFTC

Forex Capital Markets (FXCM) has agreed to pay $14.2 million to the US Commodity Futures Trading Commission to settle claims that it failed to properly oversee the handling of more than 57,000 accounts that used its trading platform. The $6 million fine and $8.2 million in restitution to customers comes on top of a $2 […]

Gain GTX Adds Voice Desk…

Gain Capital has launched a new execution desk to supplement its institutional ECN, Gain GTX. GAIN GTX clients now have 24-hour access to an experienced FX team that will assist them in pricing and executing transactions in the GTX marketplace. The desk will cover all aspects of the FX markets including spot, swaps, non deliverable […]

Anello Asset Management Hires for Mantis Program

Loizou has 23 years of trading experience, most recently as founder and CEO of Lewis Charles Securities. Prior to this, he was head of strategic trading at Fuji Bank where he was responsible for a portfolio of $100 million in fixed income, stock indices and spot foreign exchange. AAM’s Mantis program uses a multi-asset actively […]