Month: April 2012

BrokerTec Upgrades FI Trading Platform

Icap’s electronic fixed income business BrokerTec has launched a new trading platform, specifically designed for its US-based products. The platform uses a modified version of the Nasdaq OMX Genium INET system, and provides low latency and high throughput as well as built-in capabilities for manual traders. The global upgrade is set to be complete by […]

CFTC and SEC Finalise ‘Swap Dealer’ Definition

The Commodity Futures Trading Commission and the Securities and Exchange Commission last week voted that companies dealing in swaps of over $8 billion will be regarded as swaps dealers and will face increased oversight. The CFTC approved the final rule by a 4-1 vote jointly with the SEC, which approved the rule by a unanimous […]

Iosco and CPSS Release Standards for Centralised OTC Clearing

The International Organization of Securities Commissions (Iosco) and the Committee on Payment and Settlement Systems (CPSS) last week released new and revised international standards for payment, clearing and settlement systems. Outlined in a report entitled ‘Principles for financial market infrastructures’, the new standards provide support for the G20 strategy to make the financial system more […]

WMBA Launches Derivatives Trading on Ronia

The Wholesale Markets Brokers’ Association (WMBA) has launched market making across a derivative curve settling on the Repurchase Overnight Index Average (Ronia), an initiative recognised by the Money Market Liaison Group. Ronia is an overnight, sterling-secured money market benchmark that was launched by WMBA in mid-2011 (Squawkbox, 13 June 2011).  Five sterling market dealers, Barclays, HSBC, […]

ADS Securities Launches Prime

ADS Securities (ADSS) has launched Prime, a new service designed for professional and high-net worth currency and bullion traders.  The Abu Dhabi-based company says it will provide institutional standards of pricing, service and trading support to investors from the United Arab Emirates, Gulf Cooperation Council and in all major markets. “ADS Securities has established a […]

INTL Global Currencies Deploys TwoFour

INTL Global Currencies (IGC), a wholly-owned subsidiary of INTL FCStone, has licensed TwoFour’s foreign exchange and cash management software for its core trading and operations. IGC specialises in transferring funds to the developing world and provides customised FX and treasury services to international aid and development organisations, UN agencies, government agencies, NGOs and financial institutions […]

C-View Embarks on Capital-Raising Initiative

C-View, the UK-based discretionary currency trading hedge fund manager, has selected alternative assets marketing firm MCAM Group to raise capital for the C-View Currency Managed Account Program (CMAP) and for the C-View Emerging, Developing and Minor Currency Program internationally. Established in December 1996, C-View manages over $350 million for a range of international institutional investors. […]

Banks Back London as Western RMB Hub

The City of London Corporation has launched an initiative to strengthen London’s position as the leading western hub for international renminbi trading and to boost the RMB’s wider international use for trade and investment. Several major banks are backing the initiative including Bank of China, Barclays, Deutsche Bank, HSBC and Standard Chartered, with observers from […]

CIBC Hires for e-Commerce

CIBC World Markets continues to build its e-commerce capabilities with another senior hire. Gerardo Sacco has joined the bank in New York as executive director within the e-solutions group where he is focused on growing the bank’s e-commerce business. Sacco joins from CLS Bank where he worked as a director, relationship management. Sacco has over […]

Commerzbank Hires James to Head New FX Quant Team

Commerzbank Corporates and Markets has hired Jessica James to establish and head a new FX quantitative solutions team. Based in London, she reports jointly to Nick Crawford, global head of FX trading and Gerald Dannhaeuser, global head of FX sales. James joins Commerzbank from Citi where she was most recently global head of the quantitative […]