Month: November 2015

Incomplete Investigation Helped Stimpson Win Case

The written judgement in the case of Perry Stimpson and Citi finds that the claimant was dismissed but generally speaking on a technicality, with the judge finding that the bank’s own investigation into the matter were not thorough enough and ignored potentially important evidence that may have changed the outcome. As reported by Profit & […]

BIS Trading Book Interim Impact Analysis

The Basel Committee on Banking Supervision has published the results of its interim impact analysis of its fundamental review of the trading book, assessing the impact of proposed revisions to the market risk framework set out in two consultative documents published in October 2013 and December 2014. The analysis shows that the change in market […]

BT Teams Up With Volante Technologies

BT has teamed up with Volante Technologies to offer access to Volante’s suite of tools and applications via the BT Radianz Cloud. BT says the move will help its financial markets customers improve the reliability of their clearing, settlement and payment transactions processing, as well as reducing cost and increasing productivity. Organisations conducting high-value transactions often have […]

CFTC Files Charges on IB Capital FX

The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement Complaint charging IB Capital FX, Michel Geurkink, and Emad Echadi, individually and as the agents of IB Capital, with soliciting and accepting at least $50 million from at least 960 clients worldwide, including at least 697 clients in the United States, for margin retail FX trading, […]

Celoxica Extends its Feed Handler and Gateway Portfolio

Celoxica has announced the extension of its Celoxica Feed Handler and Gateway portfolio to further support interest rate markets by including the BrokerTec and Nasdaq eSpeed venues.   This asset class expansion has been introduced in response to the continued electronification of the fixed income and rates markets, the firm says.  Celoxica’s embedded feed handlers […]

Integral Bolsters its Ranks With Senior FX Hires

In addition to hiring Soren Haagensen from Societe Generale in New York, Integral has also appointed Alan Scott from 360T in London and Takasji Ozeki from the Internet Initiative Japan (IIJ) in Tokyo to senior positions within the company. Scott has been named as managing director for enterprise solutions and will be charged with overseeing […]

EBS Market to List SGX FX Block Futures

EBS BrokerTec and Singapore Exchange (SGX) have announced plans to launch SGX listed FX block futures on EBS Market. This is the first initiative that EBS BrokerTec and SGX will bring to the market as part of a long-term strategic partnership announced in January 2015. As part of the planned collaboration SGX’s listed FX block […]

Haagensen to Join Integral from Societe Generale?

Market sources are suggesting that Soren Haagensen, managing director, head of e-commerce for the Americas at Societe Generale, is preparing to leave the firm, with Integral being touted as his next destination. Profit & Loss understands that Haagensen’s title at Integral will be managing director, bank FX, Americas. In this role he will be focused […]

Ceinex Launches in Frankfurt

China Europe International Exchange (Ceinex), the joint venture of Shanghai Stock Exchange (Sse), Deutsche Börse and China Financial Futures Exchange (Cffex) has successfully launched in Frankfurt. First trades have already taken place in the first hours of market operations. Ceinex offers investment products based on Chinese underlyings to international investors, starting with cash market products. […]

Long Dollar Trade is “Crowded”

The most vulnerable tactical trade heading into the December Fed hike is ‘long dollar’, and associated positioning, according to Bank of America Merrill Lynch’s (BAML) November Fund Manager Survey (FMS). The survey shows that long USD is the most crowded trade by far (32%), followed by the related trades of short commodity stocks (15%) and […]