Month: July 2014

And Another Thing…

No, I’m not back, just breaking into my holiday (who really goes on ‘proper’ holiday these days with email anyway?) to share a few thoughts on the FSB’s consultation paper for FX benchmarks. My initial reaction from reading the consultation paper is that it is a fair assessment of the issues involved and that most […]

Rue Leaves BNP Paribas

Jake Rue, director of bank sales for North America at BNP Paribas in New York, has left the firm. Rue joined BNP Paribas in September 2012 from Nomura, where he was an executive director. Rue spent three years at Nomura, initially focusing on bank and e-commerce sales for FX, but later moved to cross-asset structure product […]

Mount & Co to Nomura

Sources say that Ed Mount, who last month left RBS in London, where he was head of FX technology, will be joining Nomura in New York. These sources say he will take up the new role in September, while two former colleagues will take up new roles with Nomura in London. Profit & Loss understands […]

Head of EMEA FX Transactions Departs Thomson Reuters

James Watson, head of FX transactions for Europe, the Middle East and Africa (EMEA), is understood to have left Thomson Reuters in order to move to another firm. London-based, he joined FXall in April 2012 as head of EMEA for new and existing business prior to it being bought out by the financial information company. […]

US DoJ Offers Immunity Deals to UK FX Traders

The US Department of Justice is understood to have interviewed a number of junior level traders in London, as it attempts to gather evidence for its probe into alleged FX manipulation in return for partial immunity from future prosecution. Officials are believed to be especially interested in information regarding more senior level traders and management, […]

EBS Direct Adds ANZ; Enhancements to Follow

ANZ Bank has joined EBS Direct, the relationship-based disclosed liquidity service, as the 14th liquidity provider ahead of EBS making further enhancements to the platform. ANZ is the first Australian bank liquidity provider on EBS Direct, bringing market making strengths in the Australian and New Zealand dollar and spot Asian currencies, including CNH. ANZ’s participation […]

Global Regulator Proposes FX Benchmarks Reform

The Foreign Exchange Benchmarks Group (FXBG), an independent working group set up by the Financial Stability Board, has published its interim report and opened up a consultation period on a number of proposals aimed at reforming the market practices around the use of FX benchmarks. Its main proposals for consultation are to widen the calculation […]

EBS Restructures Management Team

EBS, Icap’s electronic FX business, has restructured its senior management team following the departure of Nichola Hunter and John Schoen, former co-heads of EBS Market. In their place, the company has appointed Darryl Hooker as head of EBS Market. EBS has also appointed Viral Tolat as global head of product for EBS. Both Hooker and […]

Around the World

DGCX to Re-List INR Options Dubai Gold and Commodities Exchange (DGCX) will be re-listing its Indian rupee options contract on 18 July, following the completed migration to new trading infrastructure. Trading was suspended in the contract in 2013 as the derivatives venue was building an upgraded platform to support higher trading volumes, in partnership with […]

Tech Corner

Horizon Software, a provider of front-end trading solutions, has launched an options trading system for the Chinese market. The Chinese government mandated the opening of the options markets three years ago in order to develop investment banking and, in particular, derivatives trading in China. GBX Technologies, a Hong Kong-based FX technology solutions developer, has incorporated […]