Bloomberg Tradebook is exiting the FX business, winding down operations by March 1. Profit & Loss understands that New York-based Kevin Cudahy, head of FX sales, North America, and Paul Beatty, global manager, are no longer at Bloomberg Tradebook. A spokesperson declines to comment on personnel moves. Beatty had been with the company for nearly 17 years, while Cudahy joined Tradebook in mid-2013. Beatty’s Linkedin profile suggests he spent his career at Bloomberg Tradebook. Cudahy, meanwhile, spent more than 10 years at BNP Paribas, where he worked on the FX sales desk. He also spent a period at CCM Securities, a Bluefin company, as MD of FX sales and trading. Prior to these roles, Cudahy worked in sales at WestLB, but started his career in trading, working at Credit Suisse, RepNat and NatWest.
Day: 31 January 2017
In recent years, the FX market has had to cope with some major spikes in volatility, forcing firms to adjust how they trade this market. The number of large market moves on the back of thin liquidity during unanticipated (and anticipated) market events seen last year – from SNB to Brexit to the US elections – raises the question whether there a need for a new “FX Playbook”.
Speaking at Profit & Loss Forex Network Chicago, Stephen Flanagan, executive director, global FX e-commerce risk manager at JP Morgan, highlighted how firms have made adjustments.