Month: August 2016

TradingScreen Hires New Americas Head of FX Sales

Jessica Brown has joined TradingScreen as the Americas head of FX sales. She is based in New York. Prior to this appointment, her two most recent roles have been vice president, sales at Flextrade (2014-2016) and vice president, derivatives clearing services at BNP Paribas (2012-2014), according to her LinkedIn profile. TradingScreen is a cloud-based EMS […]

More Fun and Games in AUD Around RBA Announcement?

Market sources are reporting a flurry of trades in the seconds leading up to the release of the latest Reserve Bank of Australia (RBA) monetary policy decision today. The sources say that price action on at least three multi-dealer venues preceded the announcement that the central bank had cut its key interest rate by 25 […]

Lmrkts, Tradition Team Up for FX Compression Service

Lmrkts, a compression provider which recently facilitated the first multilateral FX compression designed to lower counterparty exposures and consolidate cash flows, has agreed a strategic partnership with Tradition to handle execution and compression processing for FX forwards. A limited release is planned for August, while the full commercial release takes place later this year with […]

GTX Hires Reichel for Institutional Sales Role

Thomas Reichel joins GTX from Hotspot as its new director of institutional sales, based in Chicago. In his new role, Reichel will report into John Miesner, managing director and global head of sales at GTX. Reichel has more than 20 years’ foreign exchange experience as both a trader and sales person. Most recently, he was […]

ADS Loses Chief Market Strategist

Nour Eldeen Al-Hammoury, senior vice president and chief market strategist at ADS Securities, is leaving the company, a spokesperson confirms. The spokesperson says, however, that a leaving date has not yet been finalised. Profit & Loss understands that Al-Hammoury, who has been working at ADS for the past three years, is leaving the company to […]

EBS BrokerTec Hires Americas Head for New FI Service

Nicole Shumpert has joined EBS BrokerTec as head of BrokerTec Direct, Americas, the company says. BrokerTec Direct is a new service that provides relationship-based, disclosed liquidity to the fixed income market. Shumpert was previously director and head of US Treasuries market development at Tradeweb, and “has significant institutional, dealer-to-client experience”, the company says in a […]

Ex-Citi FX Chief Seeking Investors for Fund?

Citi’s former global head of FX trading, Jeff Feig, is reportedly seeking to establish a macro hedge fund and is talking to investors. According to a report by Bloomberg, Feig has teamed up with Chris Fahy, with whom he worked at Fortress Investment Group, and Steve Luttrell, who co-founded Drake Management. Bloomberg says the new […]

And Finally…

So, back in the saddle after two weeks without a decent Internet connection – it’s at this point that I bemoan that fact but I’m sure you all know how upset(!) I was so I won’t bother – and as such today is rather about filling in the details of sketchy reports received over the […]

FCA Cites “Real Improvements” in Banks’ FX Controls

Alongside last week’s publication of an update on the Fair and Effective Markets Review (FEMR), the UK’s Financial Conduct Authority (FCA) has separately published a progress report on its own FX remediation programme. The programme, which was launched in November 2014 following the issuing of a series of fines to banks in the FX market, […]

Platform Volumes Fall Back in July

The first batch of trading venues to provide turnover data indicates that trading volumes in July, perhaps inevitably, retreated from the Brexit-inspired heights of June. HotspotFX reports average daily volume (ADV) of $26.25 billion in July, down 9% from June’s $28.8 billion. The platform has demonstrated year-on-year growth, however, with ADV up 11.5% from July […]