Day: 28 January 2013

And Finally…

This week’s column is a mix of an observation on currency wars and a “come and get me” plea to CNN… It’s nice to know you’ve still got it. Was it only last week that I predicted a Sterling collapse? The landlord that closed my favourite watering hole has got a lot of explaining to […]

Tech Corner

ADS Securities has taken on monitoring and management services provider, Corvil, to monitor its new FX trading platform. The Abu Dhabi-based company will use the Corvil service for real-time monitoring and greater transparency of its trading infrastructure. The deal will see the company measure market data, order flow, quote-to-order latency and network measurements. Nasdaq OMX’s […]

Around the World

StanChart’s RMB Globalisation Index Up in November. The Standard Chartered Renminbi Globalisation Index (RGI) rebounded and hit a new high of 737 in November, up from 731 in October. The bank attributes the growth to three of the four RGI constituents, Dim Sum bonds and certificate of deposits outstanding, offshore deposits, and trade settlement and […]

On the Move

Nilsson Departs Citi Anders Nilsson has left his role as head of UK corporate sales at Citi in London. A spokesperson confirmed the departure but declined to comment further. Nilsson has been with Citi since 1998, serving in various FX sales positions. During 2007, amid a realignment of Citi’s foreign exchange business, Nilsson became the […]

New Global Payment Solution Features Currency Overview

Afex launched an enhanced version of its online payment platform, AfexDirect, which provides its SME client base with new tools for managing currency risk. The latest evolution features improved search and display options, the ability to schedule payments to beneficiaries directly from available funding balances and a consolidated overview of currency exposure to simplify international […]

NFA Announces New Board and Nominating Committee

The National Futures Association (NFA) last week announced the newly elected members the NFA board of directors and the 2013 nominating committee. The board of directors now includes Jeffrey Malec, chief executive officer and founding partner of Attain Capital Management, as an Introducing Broker (IB) representative; James Koutoulas, CEO of Typhon Capital Management, and John […]

Stenham Hires Two

Stenham Asset Management has hired Akshay Krishnan and Rishi Patel to its team. Krishnan has joined the firm as senior research analyst, with responsibility for Global Macro strategies across the range of Stenham funds. His primary responsibility will be to work proactively on the Stenham range of Global Macro funds of hedge funds, which includes […]

FX Activity Down in 2012 – CLS

CLS Group last week reported that it settled a value of $4.7 trillion per day through 2012, a 1.7% decline from $4.78 trillion per day in 2011. The utility saw increased activity in December compared to the same month a year before, CLS processed 885,203 instructions in December, for a notional value of $4.61 trillion. […]

Icap Under Libor Scrutiny

A subsidiary of the world’s largest interdealer broker, Icap, is being investigated by the UK’s Financial Services Authority (FSA), as part of the Libor rate-fixing scandal that began to sweep through the market last summer. According to the Financial Times, a memo dated March 2012 shows that Icap is under investigation to ascertain whether a […]

Hotspot Completes ADV Reports

Knight Capital’s Hotspot FX platform, which remains the subject of much speculation over its fate following the parent company’s merger with Getco, has reported a 14.2% decline in year-on-year volumes. Average daily volume (ADV) on Hotspot FX was $25.4 billion in 2012, compared to $29.6 billion in 2011. There was some positive news for the […]