Day: November 8, 2011

Technology Choices for HFT Firms

High frequency trading volumes in the foreign exchange market have grown consistently over the past few years, primarily due to the electronification of the market and technological advances, which have driven down transaction costs. Electronic trading now accounts for 50% of FX volume, according to research and advisory company Celent. In a new report, Celent […]

10 Questions to Tackle on HFT

1: Will HFT operating in emerging markets be a good thing for the industry and those markets?2: Is “Hot Potato” trading now the dominant theme in FX markets?3: Is retail FX an issue of greater concern than HFT?4: Should the BIS study group formally gather data on when “real economy” flows typically hit the FX […]

HFT: Just One of the Gang

In the June issue of Profit & Loss, we asked the question: Is high frequency trading still a pariah? The question was pertinent, coming as it did, one year after the Flash Crash in US equity markets, but chose to focus more on the FX markets. For some time now the debate over the impact […]

Special Report: Interdealer Broker Concerns

The Second Annual Swap Execution Facility Conference (SEFCONII), held in New York in early October by the Wholesale Markets Brokers’ Association, Americas (WMBAA), drew a crowd of 400 and a long list of politicians, market practitioners and regulators. Conference chairman Chris Giancarlo, a founding board member of the WMBAA, set the tone for the day, […]

Special Report: Derivatives Rules

Meanwhile, at an address to the Futures Industry Association a week later in Chicago, Chairman Gensler spoke to an audience of several thousand dealers about the CFTC’s rule writing process with regards to derivatives, again showing a singular focus on regulatory oversight. “Each part of our nation’s economy relies on a well-functioning derivatives marketplace. The […]

Special Report: SEF Rules

Commodity Futures Trading Commission Chairman Gary Gensler has been making appearances at various industry conferences around the US, addressing a wide range of market participants. While audiences are hopeful he can be persuaded to truly understand their concerns, many are walking away feeling that he just isn’t listening… The following is an excerpt from a […]

The Last Word…

How socially conscious should traders be? To be honest it’s not a question I thought I would ever have to answer, but then, equally, it’s nothing new. I sat through countless dinner parties in the 1980s and 1990s during which my profession (financial markets trading) was slammed repeatedly as seeking to destroy the world. I […]

Samuel Joins BGC Partners

Alan Samuel has joined BGC Partners in London as manager, business development for e-commerce. He reports to Philip Norton, executive managing director and global head of e-commerce. Samuel was previously EBS business development manager for Europe at Icap, a position he left in June following a reorganisation of the EBS sales management team. Prior to […]

Maillard in UBS Move?

Alex Maillard is set to join UBS as global head of FX e-commerce, Simon Wilson Taylor’s previous role, according to market sources.Maillard was previously head of European FX e-commerce sales at Deutsche Bank. He left the German bank in July this year . Wilson-Taylor left UBS in July and recently joined the board of directors […]

Eagle Flies from CIBC

Chris Eagle has left CIBC where he was an executive director in the financial solutions group in London. He joined the bank last year (P&L’s Squawkbox, 15 February 2010). Eagle previously held foreign exchange sales roles at Unicredit, Bank of America, the Royal Bank of Scotland and Morgan Stanley. It was not clear at press […]