Month: November 2012

Deutsche Bank Builds Asian Products; Adds Autobahn App

Deutsche Bank has expanded its FX4Cash platform to Malaysia and Thailand, making it available for the first time to clients in these two Asian markets. FX4Cash is a cross-currency payments system that gives its clients access to a total of 125 currencies, through a single platform, and the ability to manage cross-border, cross-currency payments via […]

BAML Appoints Three in FX Sales

Bank of America Merrill Lynch has strengthened its foreign exchange sales team with the hires of Tariq Haider, Adrien Tutenuit and Sara Winsko. Haider joins as managing director in FX institutional sales in London, reporting to Iain Szucs, head of EMEA institutional FX sales. Haider was previously with Societe Generale, where he worked in FX […]

MiFID Proposals Could Reduce Investors’ Choice says ISDA

The International Swaps and Derivatives Association (ISDA) has welcomed the European Parliament’s recent vote on high frequency trading rules within the Markets in Financial Instruments Directive (MiFID), but warned that the proposals could have an impact on the OTC market. The European Parliament voted on Friday 26 October on proposed amendments to MiFID and its […]

Nomura Deploys Fidessa Platform for Global Derivatives Trading

Nomura is deploying Fidessa’s trading platform to support its global futures and options trading activity. The platform will be implemented in the US and Europe in the early part of 2013, with Asia Pacific and Japan to follow. Fidessa’s platform will handle all of Nomura’s listed derivatives business across its global operations, supporting complex front […]

CME Group Hires Head of Global Bank Sales

CME Group has appointed Kevin Collins as managing director and head of the global bank sales team, based in London. Collins will be responsible for sales of the exchange’s full range of products including foreign exchange. He started the role in October and reports to Ali Hackett, managing director, global client development and sales. Collins […]

HSBC Bolsters Institutional FX Sales

HSBC has appointed Claude Goulet as the sole head of FX institutional sales for Europe, the Middle East and Africa and Chris Smith as head of hedge fund FX sales, EMEA. Goulet was previously co-head of FX institutional sales for EMEA with Robbert Sijbrandij who left the bank last month. Goulet joined HSBC in July […]

UBS to Cut 10,000 Jobs, Refocus on Core Businesses Including FX

UBS has said foreign exchange will be a key growth area as it unveiled a major overhaul of its investment bank on Tuesday that will involve the elimination of some 10,000 jobs. In spite of its belief in FX, the bank is believed to have cut several FX jobs. The Swiss bank is essentially exiting […]

And Finally…

When I am helping out with the ACI Australia Dealing Simulation Course, I always enjoy conversations with a group of youngsters on their way up in the industry and last week was no different. It involved the role of the human in the market. This is, of course, not a new subject for either this […]

FX Platforms Weather Hurricane Sandy

Electronic trading venues in the foreign exchange market used business continuity plans to minimise the impact of Hurricane Sandy on customers this week, although Knight Capital, which operates the Hotspot FX platform, suffered a power issue Wednesday, leading it to request client orders be sent elsewhere. The temporary glitch, related to the after-effects of Hurricane […]

And Another Thing…

A couple of weeks ago I wrote about how high frequency trading had a problem garnering support amongst authorities because it had no raison d’etre. Now, the events reported earlier today would appear to suggest that the segment’s reputation is likely to take another hit. Sources familiar with the matter say that Lucid Markets and Thomson […]