Month: July 2015

Maiuri to Head State Street Global Exchange

Lou Maiuri has been appointed to head State Street’s Global Exchange business. Maiuri will report directly to Mike Rogers, president and chief operating officer of State Street. “Having led our securities finance and investment management servicing businesses, Lou has a keen understanding of the needs of our buy-side clients,” says Rogers. Prior to joining State […]

Fortress Reveals Second Quarter Struggles at Macro Fund

Hedge fund group Fortress Investment has announced its second quarter results, showing continued struggles for its macro fund which was managed by former Citi global head of FX Jeff Feig before he exited the fund last month.  Fortress’ results show that the macro fund dropped 6.5% net of fees in the three months to June […]

FCA Appoints New Director of Supervision

The UK’s Financial Conduct Authority has appointed a new director of supervision – investment, wholesale and specialists, the division responsible for oversight of markets. Megan Butler is joining the FCA from the Bank of England’s Prudential Regulatory Authority on September 1 and will hold the post for one year. Butler’s arrival is part of a […]

Parker Index Falls in June

Currency managers had a tough June according to the Parker FX Index, which fell 1.52% on the month, with just five of the 30 funds to report results showing a positive return. On a risk-adjusted basis, the Index was down 0.68% in June, the median return was -1.19%, while the performance ranged from a high […]

ISDA: Compression in Interest Rate Derivatives Growing

A new research note from the International Swaps and Derivatives Association (ISDA) says that compression activity in interest rate derivative markets has increased “significantly” over the past year driven by new regulations and developments in clearing technology. In particular, ISDA says the implementation of the Basel III leverage ratio has acted as a major incentive […]

Rabo Libor Trader Banned by FCA

The UK’s Financial Conduct Authority has formally banned Lee Stewart, a former trader at Coöperatieve Centrale Raiffeisen-Boerenleenbank (Rabobank) from the UK financial services industry for “lacking honesty and integrity” following a criminal conviction for fraud in the US. In March 2015 Stewart pleaded guilty in the US for his role in a conspiracy to manipulate […]

EBS BrokerTec Announces New Management Structure

EBS BrokerTec has announced a new management structure, naming Dan Cleaves and Darryl Hooker co-heads of EBS BrokerTec Markets, and the addition of Phil Harris, who joins EBS BrokerTec as head of EBS Market. Cleaves most recently served as CEO of BrokerTec’s North America business, having previously been global head of product for both BrokerTec […]

Thomson Reuters Sees Revenue Dip on Currency Impact

Thomson Reuters’ half year financial report shows the firm’s revenues were down 4%, but it says this was entirely due to the impact of currency movements. Revenues grew 2% before the currency effect. In the firm’s Financial & Risk division revenues rose 1% and net sales were up for the fifth consecutive quarter. The 1% […]

SGX Profit Up 9% For the Year

Singapore Exchange (SGX) has announced an annual net profit of $348.6 million, up 9% from the previous year, on revenue of $778.9 million, up 13% from a year earlier. “SGX has delivered a good set of results for the year. We are conscious of the challenges ahead and the need to address new listings activity […]

What Now Following 360T Sale?

There has been more big M&A news in the FX world this week with the announcement that Deutsche Boerse Group is set to buy trading platform 360T for EUR725 million. With the acquisition of Hotspot by BATS Global Markets, 360T by Deutsche Boerse and, if the rumours are to be believed, FastMatch by the Intercontinental […]