Adrian Boehler has, according to reports, left his position as co-head of FX, local markets and commodities at BNP Paribas. In another development, market sources tell Profit & Loss that Sally Francis, head of institutional sales for FX and local markets at the bank, has also left.
Boehler is seeking another career opportunity according to an internal memo cited by Bloomberg News. He joined the bank in late 2011 as global head of institutional sales, after serving as head of FX sales for Europe at HSBC.
Today oneZero Financial Systems has released a new tool, called Market Data Sentinel, which automates the reporting, monitoring, accounting and compliance of exchange market data used on the MetaTrader 5 platform.
"We are excited to introduce Market Data Sentinel to address a real market need around reporting and monitoring exchange market data on MetaTrader 5," says Andrew Ralich, CEO of oneZero. “All MT5 brokers, whether they currently use oneZero’s Liquidity Hub or not, can take advantage of this powerful solution to a previously time-consuming manual workflow process.”
He adds: “Market Data Sentinel represents our continued response to the needs of both our clients and the market. We always look for ways to leverage our superior technology development resources in support of important business needs that will enable our clients to focus on what they do best and grow their business, while relying on oneZero to make their processes more efficient."
Bitfury Group, a blockchain technology company, has closed an $80 million private placement with global institutional and corporate investors.
The private placement was led by Korelya Capital, the European growth capital firm backed by Korean firm, Naver Group. The placement was joined by investors such as Macquarie Capital, Asian financial institution Dentsu Inc, European investment company Armat Group, European fund managers Jabre, Lian Group, special situations investment firm Argenthal Capital Partners, insurance group MACSF and Galaxy Digital, a specialised digital asset merchant bank led by Mike Novogratz. iTech Capital, an Eastern European tech specific private equity firm and historical investor in Bitfury, also took part in the placement.
ACI - The Financial Markets Association (ACI FMA), has teamed up with the Interarab Cambist Association (ICA) to promote the FX Global Code amongst financial institutions in the Middle East and Africa.
The ICA is a trade association representing professionals working at banks and financial institutions across the Middle East and Africa. Established in 1972, it has members in 15 countries and provides training and workshops relating to asset classes including FX, interest rate products, equities and commodities.
As part of the collaboration, the ACI FMA and the ICA recently combined their annual member conferences – the ACI World Congress and ICA Annual Conference – for the first time in Cairo, Egypt.
Saxo Bank, which describes itself as a fintech specialist focused on multi-asset trading and investment, has announced two changes to its board of management.
Current member of the board, Søren Kyhl, has been promoted to deputy CEO while also continuing in his role as COO, and Damian Bunce has been appointed to the board with the new title of chief commercial officer. In addition to Kyhl and Bunce, the Saxo board of management consists of CEO, Kim Fournais, and chief financial and risk officer, Steen Blaafalk.
“With Damian Bunce as a new member of the board of management, Saxo further increases the essential client and commercial focus. The promotion of Søren Kyhl to the newly established role as deputy CEO adds even more firepower to Saxo's strategy execution and provides a steadfast long-term leadership of the bank
Shell's Foreign Exchange Central Treasury business has implemented a Bloomberg service that connects its subsidiaries globally.
The solution is now available for use by any corporate treasury operation in the world, Bloomberg announced today.
The new technology was built by Bloomberg in collaboration with Shell and connects the company's central treasury office directly to its 718 operating units in 22 countries, so they can quickly and electronically exchange information. The functionality aims to help Shell manage its group risk with more than 200 distinct bank counterparties via the Bloomberg Terminal.
The first batch of FX platforms to report data indicate October saw a modest uptick in activity from September, although CME Group saw average daily volume (ADV) fall from an outstanding previous month.
The stand-out results come from FXSpotStream, which has reported another peak in activity at $35.9 billion per day. Not only does this represent a 12.5% increase from the previous record in September and a huge 80.1% increase year-on-year, it also means that FXSS is recording ADV very close to CboeFX, formerly HotspotFX.
NEX Markets has announced that BrokerTec Europe has worked with Eurex Clearing to launch a new clearing solution for the European repo market.
The new clearing solution will be live by the end of 2018 and will allow existing BrokerTec clients to select to clear their repo transactions via Eurex Clearing. “This solution will allow market participants to consolidate their European repo and corresponding OTC and listed derivatives business under the single risk framework of Eurex Clearing, via the BrokerTec platform,” the firms say.
The US National Futures Association (NFA) has ordered Mizuho Capital Markets to pay a $900,000 fine for failing to adequately assess the risks of its uncleared swaps.
The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint issued by the BCC and a settlement offer submitted by Mizuho Capital, which neither admitted nor denied the allegations.
The BCC found that Mizuho Capital used inadequate processes to assess the risks of its uncleared swaps and back test, benchmark and validate its margin model.
A memorial service will be held this Wednesday to celebrate the life of Paul Chappell, most latterly director of education for ACI – The Financial Markets Association.
The service will be held on November 7 at 11am London time at St Mary’s Moorfield, which is in Eldon Street and will be followed by a gathering at The Soda Room in The Botanist in Broadgate Circle.
Chappell, who, in 1999, founded currency management firm C-View after heading Bank of America’s FX business for many years, passed away in June after a short illness.