Day: 2 April 2019

Broadway Technology Acquires Barracuda FX

Broadway Technology has announced the acquisition of FX OMS provider Barracuda FX – terms of the deal have not been revealed.
With the deal, Broadway says it will continue to expand its product suite and deliver its multi-asset solutions across more parts of the investment lifecycle while allowing clients to automate additional workflows.
The Barracuda FX business will continue to operate on a standalone basis, meaning there will be no reduction in staff. Barracuda CEO Kieran Fitzpatrick and Maurice Curran, COO, will continue to run the business, they will also, however, assume senior roles leading Broadway’s FX business, as head of FX and head of FX operations respectively.

NAB Launches 2019 Superannuation FX Hedging Survey

National Australia Bank (NAB) has launched its biennial 2019 Superannuation FX hedging survey, the ninth such survey that seeks to provide detailed analysis of how Australian super funds manage their currency exposures. Australia has the fourth biggest superannuation pool in the world, as at December 2018 assets stood at AUD 2.7 trillion, of which around AUD 1.8 trillion is institutional money, with the balance being in private self-managed funds. The bank says this is the only survey of its kind in Australia thanks to the level of detail it goes into around how asset owners are managing their currency risk.

Cafe to Join BNY Mellon

BNY Mellon has hired Joseph Cafe as VP, e-FX sales, in New York.Profit & Loss understands that he will start his new role in May and will report into James Taylor, global head of e-FX sales, who is based in London.Cafe arrives at BNY Mellon from BNP Paribas, where he was a VP in the global markets business. Prior joining the French bank in 2015, he was a VP at Deutsche Bank for just under two years and spent four years as an FX sales manager at American Express.