Month: August 2015

China Needs to Balance Domestic Growth and International Confidence

The recent Chinese currency devaluation and the country’s ongoing struggle with its plunging equity markets, were likely the key trigger for the contagion that rocked financial markets globally last week. While the sharp losses recorded in equity, currency and commodity markets have recovered in the main, due largely to soothing Fed speak and a sharply […]

Currenex LD4 Matching Engine Goes Live This Week

Currenex will go live with its matching engine in Equinix’s London LD4 facility in Slough this week, offering clients in the European region access to ultra-low latency pricing and execution. LD4 is home to some of the largest collections of exchanges and trading platforms, as well as hundreds of buy-side and sell-side firms, all of […]

On the Move

Morgan Stanley, RBS, RBC, BAML… Laing to Join Morgan Stanley G10 Spot Desk Tanya Laing is joining Morgan Stanley in London to run the G10 spot desk, market sources say. She was previously a senior trader on the emerging markets spot desk at Barclays. Prior to joining Barclays in 2012, Laing traded CEE currencies at Deutsche […]

Tech Corner

Singapore Exchange (SGX) has added Sapien Capital as a trading member in the derivatives market.  SGX says it hopes this addition will not only enhance liquidity, but also create more international participation within its derivatives market, bringing the number of trading members to 49.

And Finally…

An interesting issue was raised in a conversation last week – will we see equity market-style circuit breakers in FX? My first response was we already have them in the form of CME’s circuit breakers that kicked in (much to the confusion of some market makers) on January 15 when the Swiss franc surged, but […]

Neal Leaves Deutsche Bank

Michelle Neal is leaving Deutsche Bank where she oversees listed derivatives and clearing as well as fixed income and currencies (FIC) market structure, two people familiar with the situation tell Profit & Loss. She is understood to be relocating to another financial firm in the US and an announcement by her new employer is expected […]

Neal Leaves Deutsche Bank

Michelle Neal is leaving Deutsche Bank where she oversees listed derivatives and clearing as well as fixed income and currencies (FIC) market structure, two people familiar with the situation tell Profit & Loss. She is understood to be relocating to another financial firm in the US and an announcement by her new employer is expected […]

Neal Leaves Deutsche Bank

Michelle Neal is leaving Deutsche Bank where she oversees listed derivatives and clearing as well as fixed income and currencies (FIC) market structure, two people familiar with the situation tell Profit & Loss. She is understood to be relocating to another financial firm in the US and an announcement by her new employer is expected […]

CFTC Approves New Rules for Retail FX Dealers

The US Commodity Futures Trading Commission (CFTC) has approved a number of rule amendments filed by the National Futures Association (NFA) regarding retail FX trading. The rule amendments will impose additional capital requirements on Forex Dealing Members (FDMs) and require them to collect security deposits for off-exchange FX transactions from eligible contract participant counterparties in […]

EM Currencies Set to Trade Lower Still Following Chinese Roller-Coaster?

The global financial markets have been on something of a roller-coaster ride recently following the events in China. There has been a sudden decline in the onshore Chinese equity market, a subsequent sharp depreciation in commodity markets and the People’s Bank of China (PBoC) deciding to adjust the CNY fixing mechanism, which prompted a 3% […]