Day: 22 September 2017

Gillespie Joins Cobalt

Kevin Gillespie has joined Cobalt in a sales and business development role. Based in London, Gillespie joins the firm from Hotspot, where he was a director of FX sales.

Gillespie had been with Hotspot since 2007, working continuously for the FX ECN through the ownership changes of Knight Capital Group to KCG to BATS and most recently to CBOE BATS.

Prior to that, he spent four years as the head of new business development at IFX Markets, where he was responsible for developing the firm’s online institutional FX business.

In the FICC of it – Surprise Optimism Regarding FXPB

So we’ve just published our Q3 edition of Profit & Loss magazine, which includes our prime services special report, and I wanted to share some thoughts about one segment of it.

When I first started the report I was very negative on the prospects for FX prime brokers, over the eighteen months or so I’d heard so many complaints about credit constraints, about offboarding – I don’t think that was even a phrase that I’d heard prior to SNB – and the general retrenchment of FXPBs.

Now obviously SNB was a catalyst for a lot of these issues, but really it just exacerbated a trend that already existed and this was caused by the introduction of new regulations that made it more expensive for banks to offer FXPB services to a lot of clients.

Profit & Loss is no longer publishing

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