Month: April 2013

On the Move

Connell Joins Barclays Richard Connell has joined Barclays in Sydney as director and head of structured rates trading. In the new role he reports to Anthony Robson, Barclays’ head of Australian fixed income trading. Connell was most recently at Citigroup where he was head of G10 interest rate derivatives trading, a role he left at […]

CFTC Orders Interactive Brokers to Pay Civil Monetary Penalty

The US Commodity Futures Trading Commission (CFTC) has ordered Greenwich, Connecticut-based Interactive Brokers, to pay a $225,000 civil monetary penalty for failing to maintain sufficient funds in customer segregated accounts. Interactive Brokers are accused of failing to calculate the amount of customer funds on deposit, the amount of funds required to be on deposit in […]

LCH.Clearnet Gains Regulatory Approval in Australia

Multi-asset clearinghouse, LCH.Clearnet, has been granted regulatory approval by the Australian government to clear energy, commodity and environmental derivatives listed on Australia’s Financial and Energy Exchange, FEX Global. The service is slated to launch mid-2013 and the company plans to leverage its risk management and clearing capabilities across a number of asset classes to provide […]

DealHub Regulatory Services Go Live

Option Computers’ DealHub’s regulatory services, including DealHub Smart Reporting, are now live at a number of tier one and two banks. DealHub has created the offerings to support compliance with the impending Dodd-Frank Wall Street Reform and Consumer Protection Act and to provide a framework for business in other jurisdictions, such as the European Markets […]

Standard Chartered Makes FX Appointments

Standard Chartered has appointed Chris Allington as global head of FX and Neh Taker as global head of options and platforms. In the new role Allington will take on a greater leadership role with responsibilities across all FX products, and with teams operating across the bank, in order to strengthen client relationships and grow the […]

“Rapid Pace” of Electronification of FX Continues: Study

Electronic trading systems continued to attract new users at a “rapid pace” last, despite the fact that there was an overall slowdown in global foreign exchange trading activity and stagnant eFX trading volumes, according to a new report. Financial research firm, Greenwich Associates’ latest study says that the continued adoption of e-trading techniques is transforming […]

ESMA Finds “Divergence” in Money Market Fund Supervision: Report

Money market funds are not subject to consistent supervisory and enforcement practices across the European Union, according to findings from the European Securities and Markets Authority (ESMA). In its latest peer review report, ESMA examined whether EU securities advisors correctly apply ESMA’s guidelines on money market funds, with a comparison of 30 supervisory authorities across […]

Industry Groups Call for Reduced Margin Requirements

The International Swaps and Derivatives Association (ISDA) has jointly submitted a letter with a number of industry associations to the Federal Reserve Bank of New York, and four other national bodies, calling for reform of margin requirements for non-centrally-cleared derivatives to improve the safety of the global OTC derivatives markets. The letter supports policymakers’ intentions […]

Bibbey Takes on Jones’ Citi Role

Richard Bibbey has been appointed global head of electronic trading for all FX products across G10 and emerging markets at Citi in London. Bibbey takes on the role vacated by Simon Jones who left the bank last week, as reported in Squawkbox (15 April 2013). In the new role, Bibbey will be responsible for Autotrader, […]

And Another Thing…

Surprisingly the warm and fuzzy feel continues into the midweek column. I thought I would remind everyone that voting for the Class of 2013 Profit & Loss Hall of Fame inductees is open on our website. There are some big events taking place in our industry at the moment, but in reality the FX industry […]