Month: March 2013

Tech Corner

SEB has updated its FX spot forecast model to improve its estimates. The tool now focuses more explicitly on the medium-term horizon (six months), while reducing its efforts in identifying the precise timing of expected moves. The new forecast table includes additional information and specific ‘action levels’ for a number of currency pairs, reflecting potentially […]

On the Move

New Global Head of Investors at StanChart Standard Chartered has appointed Jeremy Amias as global head of investor coverage, based in Hong Kong. Amias took on the newly created role at the beginning of the month and reports to Peter Heidinger, global head, financial institutions group, origination and client coverage. In the position Amias will […]

Contango Markets Launches New Unit

Derivatives consultancy, Contango Markets, is launching Contango Operations, a new unit designed to help clients tackle pre- and post-trade issues resulting from the changing regulatory landscape. The offering includes post-trade advice in clearing and collateral management across a number of asset classes and clearing houses; analysis, integration and implementation of technology for exchange traded and […]

Hedge Funds Underperform in January – Survey

The latest survey from BarclayHedge and TrimTabs Investment Research shows that the hedge fund industry took in $4.3 billion in January, compared with outflows of $20.7 billion in December, in spite of underperforming the S&P 500 during the month. The results are based on data from 3,459 funds. Despite the January inflows, the industry shed […]

Sucden Financial Offers Electronic NDF Pricing

Retail foreign exchange broker, Sucden Financial, is now offering electronic pricing of non-deliverable forwards (NDFs) to clients. The company has been active in the market for a couple of years and has now made the tool available to its clients. Jonathan Brewer, head of e-FX business development, says, “Previously we have only offered access to […]

Singapore to Drop MYR Fix – Report

The ongoing crisis over potential manipulation of NDF fixings in Singapore appears to have ended in at least one currency fix being moved onshore. Reuters reports that the Association of Banks in Singapore, which has previously managed the fixings for several Asian currency pairs, is to abandon the Malaysian ringgit (MYR) fix. The report follows […]

Daniel Stewart & Co. Launches Forex Fund

London-based investment bank, Daniel Stewart & Company, has launched its foreign exchange fund, The Daniel Stewart Mercury Forex Currency Fund. The fund is set to start trading in April and will be open to institutional and ‘expert’ investors, says the company. It will focus on short term and intraday trading opportunities in the US dollar, […]

First Derivatives to Launch SEF

First Derivatives says it has launched a Swap Execution Facility (SEF) initiative and appointed James Sanders as chief compliance officer to oversee the company’s registration as a SEF. The firm says it intends to register as a SEF in order to provide its customers with an enterprise-wide solution, particularly in respect of its Delta Flow […]

New Offshore Markets Head for Lloyds

David Bee has been appointed head of offshore markets at Lloyds Bank Commercial Banking. Based in New York, Bee will report directly to Richard Moore, managing director Financial Markets, and locally to Mark Grant, chief executive officer for Commercial Banking North America and regional manager. A spokesperson for the bank confirmed the hire and tells Profit […]

ISDA Emphasises Importance of Non-Cleared OTC Derivatives Market

The International Swaps and Derivatives Association (ISDA) has reiterated the importance of the non-cleared OTC derivatives market to the global economy and says that “significant threats” to the continued functioning of the market exist due to the current regulatory proposals regarding margin requirements for non-cleared OTC derivatives. The proposals also fail to fully consider the […]