Month: April 2014

And Another Thing…

We have “too big to fail” firmly embedded in the market’s lexicon, and we now can add “too big to move”. I had an interesting conversation with a youngish trader the other day who was firmly of the opinion that EUR/USD “never moves very far and never will”. The trader’s view was that the market […]

MFA to Host Compliance 2014

The Managed Funds Association will host? Compliance 2014 on? 7 May at the? Convene – Times Square ?in New York. The MFA event is a source for hedge funds to gain clarity on evolving regulations and how to implement compliance regimes in the US and internationally. This is the MFA’s fourth annual Compliance event, and is […]

RBS Head of EMEA Currency Trading to Take Sabbatical

James Pearson, the Royal Bank of Scotland’s head of trading for currencies, Europe, the Middle East and Africa, is taking a five-month sabbatical, leading to a temporary reorganisation of the bank’s FX desks in London. “James is taking a sabbatical for entirely personal reasons,” a spokesperson for the bank says, adding that Pearson’s decision to […]

US DoJ in London to Interview FX Traders

Criminal prosecutors from the US Department of Justice have flown to London in order to interview several UK-based currency traders “on the periphery” of the FX Fix probe, according to the Financial Times. The DoJ has invited a number of individuals to attend voluntary interviews in London around the alleged rigging of foreign exchange rates […]

Farrell Joins Integral

Richard Farrell has joined Integral Development Corp’s executive team as managing director, business development/sales, based in New York. Farrell will oversee efforts to expand Integral’s offerings including FX Grid, a global network linking market participants with major sources of FX liquidity, into additional customer segments and business models. He reports to Harpal Sandhu, CEO, and […]

Rodgers to Retire as Deutsche Bank Head of FX

Kevin Rodgers will be retiring from the FX industry this summer, Deutsche Bank has confirmed. The departure of the London-based global head of foreign exchange is not connected to the ongoing probe into alleged FX manipulation, the bank says. “Kevin Rodgers has made a personal decision to retire from the industry to pursue other ambitions […]

Europe’s Top Court Dismisses UK’s Challenge to FTT

The European Court of Justice (ECJ) has today (30 April) rejected the UK’s challenge to the proposed implementation of the Financial Transaction Tax (FTT), which the UK says will produce extraterritorial effects and impose costs on non-participating member states. Of the 28 EU member states, only 11 currently plan to move ahead with the FTT: […]

And Finally…

And breathe…A big thank you to all who make Forex Network London such a success. Several issues were raised on the sidelines of the conference and I will get to most of them in the coming weeks, although I will conveniently forget those who decided to complain about not winning certain awards, and the one […]

Tech Corner

Trading firm iFexx has launched an algorithmic investment programme (AIP) to help small investors implement a high frequency trading strategy on their forex account. AIP is a tool for forex accounts to receive and execute auto-generated algorithmic Forex Signals via Trade Copier software, in coordination with the Black-Box system. The system is equipped with risk […]

On the Move

CORRECTION: Pacifico Joins Mizuho Bank Contrary to the report in Squawkbox on 10 March, Ryan Pacifico has joined Mizuho Bank as vice president – senior EMFX dealer in New York, not the Bank of Tokyo Mitsubishi as a spot trader. He was previously director – head of execution trading at Chapdelaine FX, part of Tullett […]