Month: June 2013

And Another Thing…

There are two ways of putting this; either I am indulging in idle speculation or I am sounding off on something about which I know nothing – you can be the jury, the subject is platform consolidation. Unusually for me, nothing particular triggered the following stream of consciousness, rather this is the result of a […]

BAML Hires Across Business Lines

Bank of America Merrill Lynch has made a number of strategic hires across its foreign exchange business lines in London. James Coulton has joined BAML as head of Europe, Middle East and Africa (EMEA) foreign exchange trading, reporting to Chris Bae and Tom Gilie, co-heads of G10 FX trading. Coutlon is an emerging markets trading […]

BOE and PBOC Sign RMB Currency Swap Deal

The Bank of England and the People’s Bank of China have signed a three-year currency swap agreement to boost trade between the UK and China. The deal, worth £21 billion/RMB 200 billion, will support the UK’s progress in becoming a trading centre for the renminbi. Signed by PBOC governor, Zhou Xiaochuan, and BoE governor, Mervyn […]

And Finally…

Sadly, it’s time to see if the Lambert algo still works. Some months ago, around the end of January if I am not mistaken, I wrote a column that some took as tongue in cheek but was from the heart. It involved the closing of my favourite watering hole in London and was written with […]

Tech Corner

Financial infrastructure services provider, TMX Atrium, has connected to Raptor Trading, a multi-asset electronic trading and risk management firm, in Toronto. Raptor has connected to TMX to take advantage of low latency access to Canadian exchange market data. The connection will allow clients in the US or Canada to access Raptor technology from a number […]

On the Move

Lazarus Joins CIBC Ben Lazarus has joined the Canadian Imperial Bank of Commerce (CIBC) in London as an associate in the financial solutions group. In the new role he will be focused on foreign exchange sales and will report to Quentin Smith, executive director of the group. Lazarus joins from Barclays Capital where he worked […]

NFA and TeraExchange Sign SEF Agreement

The National Futures Association (NFA) and TeraExchange have signed an agreement to support the NFA in performing regulatory services for TeraExchange’s swap execution facility (SEF). The agreement creates a preliminary framework for exchanging information and the development of technology standards, enabling TeraExchange and the NFA to develop, test and launch automated trade practice and surveillance […]

Thomson Reuters Named Official Calculating Agent for HIBOR

Thomson Reuters has been appointed as the official calculating agent for publishing the Treasury Markets Association’s (TMA) offshore renminbi Hong Kong Interbank Offered Rate benchmark (CNH HIBOR benchmark), following its appointment as the official calculating agent for this industry interest rate benchmark, as reported in Squawkbox last week (19th June 2013). The firm will compile […]

Icap invests in Enso Financial Management

Interdealer broker, Icap, has made a strategic investment in early-stage firm, Enso Financial Management (EFM). New York-based Enso provides hedge funds and asset managers with portfolio reporting and data analytics services. The firm currently reports on more than $100 billion in global assets under management. The companies say that EFM will use the investment to […]

CFTC Hits Forex Firm, Individuals

The US Commodity Futures Trading Commission says it has obtained Federal Court Orders requiring defendants Toby Hunter, Prestige Capital Advisors, and D2W Capital Management, all of Charlotte, North Carolina, together to pay more than $4.3 million in restitution to defrauded pool and managed account clients. The Order also imposes civil monetary penalties of approximately $7.5 […]