Month: December 2012

And Finally…

Following the “sleep with one eye open” line that seemed popular in last week’s darker column – I thought I would go all “warm and fuzzy” for the last missive of the year. And you know what? I think I might be able to manage it. Actually, and in reality, the jury is out on […]

Around the World

First Derivatives Secures Australia Deal. First Derivatives has been awarded a tender to deliver a multi-market surveillance system for the Australian Securities and Investments Commission (ASIC). The deal is initially for a four-year term and will utilise First Derivatives’ Delta Stream platform, incorporating an advanced surveillance framework. The ASIC will use the tool to meet […]

Tech Corner

Knight Capital’s Hotspot FX ECN has reported average daily volume of $21.6 billion in November 2012, down 4.8% on the previous month and down 22.4% on the $27.9 billion November last year. A total of $475.9 billion was transacted on the platform throughout the month. Among publicly reported spot FX volumes, Hotspot FX accounted for 9.2% […]

On the Move

Advanced Markets Hires for Institutional Drive Advanced Markets, a provider of foreign exchange direct market access (DMA) trading technology, has hired Karma Tenzing and Robert Vorhees to bolster its institutional presence in the US and Europe. Tenzing joins the company as a director for institutional FX sales, based in Charlotte, North Carolina. Tenzing was most […]

Citi Partners with Tradable for FX Liquidity

Foreign exchange platform Tradable has announced a partnership with Citi, which will allow brokers on its platform to transact with the bank through CitiFX TradeStream. The partnership focuses on liquidity provision and margin solutions, allowing Tradable brokers a counterparty relationship with the bank. CitiFX TradeStream helps small to mid-sized institutions improve their FX trading operations […]

JP Morgan Hires Global Currency Strategist

Sara Yates has joined JP Morgan as a global currency strategist for the bank’s foreign exchange and commodity business. Based in London, Yates is responsible for currency forecasts, client investment and diversification strategies in FX. She reports to Stephen Jury, global head of FX and commodities. Yates was most recently at Barclays Capital where she […]

In Memoriam: Kevin Nelligan

Kevin J. Nelligan, 43, a long-time professional in the foreign exchange business, passed away on Sunday, 25 November. Although spending his career in Chicago, he was well known throughout the industry. His most recent assignment was as the Chicago FX desk manager at R.J. O’Brien & Associates.   He is survived by his wife Dawn and […]

LCH.Clearnet to Extend IRS Clearing to Australian Banks

International clearinghouse LCH.Clearnet plans to extend its clearing business for OTC interest rate instruments to Australian banks. The company will apply for an Australian clearing and settlement facility licence which would enable it to offer the Swapclear OTC interest rate swap clearing service. Four of Australia’s five domestic banks have submitted letters of intent to […]

CME Group Sets New Trading Records

CME Group set two trading volume records last week with its New Zealand dollar and Mexican peso futures contracts. On Wednesday 12 December, CME traded $7.7 billion in MXN futures, compared to an average daily volume for 2012 of $1.67 billion. It also traded $4.9 billion in NZD futures compared to an ADV of $1.14 […]

Gain Capital Acquires GFT US FX Business

Gain Capital Group, the US arm of the global retail and institutional FX broker, Gain Capital Holdings, has acquired the retail customer accounts held at GFT Forex’s US subsidiary. The transfer of GFT’s US-based accounts to Gain’s retail unit, Forex.com, took place on Friday 7 December, after the close of trading. In a notice to […]