If the global investigators who are jumping on the bandwagon in the hope of receiving a cut of the fines’ pie – actually, that should read “if the global investigators who are seeking to improve our markets” but it’s too late now, it’s out there – are extending their enquiries into the sales world, I […]
Month: June 2014
Tech Corner
Tradeweb Markets says the first electronically-traded and JSCC-cleared yen swap transaction by a Japanese bank was executed last week. Bank of Tokyo-Mitsubishi traded with Deutsche Bank, and used the Tradeweb “intention to clear” facility to indicate that it would send the trade to the Japan Securities Clearing Corporation (JSCC) for clearing. Derivatives trading technology company Orc […]
On the Move
Babic Leaves Citi Michael Babic has left his position as an e-FX sales director at Citi. The bank confirmed Babic’s departure but declined to comment on the reasons behind the move or if anyone has been chosen to replace him. Babic joined Citi in June 2009 (Squawkbox, 1 June, 2009). Prior to that he was […]
Ex-Goldman Partner to Start New Hedge Fund
Steven Cho, a former partner in Goldman Sachs’ currency trading business, is set to start a new hedge fund, according to news reports. Bloomberg reports that Cho plans to launch a macro hedge fund, a strategy attracting investors seeking to profit from diverging global economic trends. The report says that the new fund will be […]
Sucden Financial (HK) to Offer F&O Trading
Derivatives broker Sucden Financial’s Hong Kong operation has received approval from the Securities and Futures Commission (SFC) to offer its clients futures and options trading services. Previously Sucden Financial (HK) acted as an introducing broker to its parent company for futures and options business. “This is great news for our rapidly expanding Hong Kong subsidiary, […]
Advanced Market Adds Deutsche Bank FX Prime Brokerage
Advanced Markets is offering foreign exchange prime brokerage services to its institutional clients through Deutsche Bank, in a move that expands its credit capacity and allows existing Deutsche Bank prime brokerage clients to designate the bank as its prime broker when trading via Advanced Markets. Deutsche Bank’s move runs counter to recent developments in the […]
MT4i Expands and Rebrands as FX Blue Group
MT4i is rebranding as the FX Blue Group from the start of July, in a bid to better reflect its expansion into offering more institutional services in addition to its retail FX business. The London-based firm say the move follows a year of developments designed to expand the scope and reach of the business, resulting […]
GFT Group Acquires Rule Financial
GFT Technologies has acquired UK-based Rule Financial and all its international subsidiaries for an undisclosed sum. According to the vendor, the transaction is intended to strengthen its position as an institutional service provider for the banking sector in Europe and North America. Rule Financial counts nine of the world’s top 10 investment banks among its […]
Bull Moose Derivatives Boosts Team; Opens New London HQ
Proprietary trading firm Bull Moose Derivatives has opened its new City-based headquarters and appointed a head of trading and trader development as part of its expansion strategy. Formerly Southegg Capital Management, the London-based firm says it launched in 2011 with three full-time traders, but has since grown this number to more than 30 through a […]
NFA Bans Credit Card Use for Retail FX Accounts
The board of the National Futures Association (NFA) has approved a ban on the use of credit cards to fund retail FX and futures accounts. “Since our inception, NFA has been committed to protecting investors,” says NFA president and CEO Dan Roth. “Forex and futures markets are both high-risk and volatile, and individuals who wish […]
