Galen Stops

Seth Joins Commerzbank

Nirav Seth has joined Commerzbank in New York as director, FX and interest rates trading. Seth joins the bank after spending the past few years as a portfolio manager at Samarpan Holdings, where he traded a personal portfolio. Prior to that, he worked for Citi between 2010 and 2016 as a director, FX and interest […]

Wu Joins Credit Agricole

Patrick Wu has joined Credit Agricole as head of EM Asia FX and rates trading. Based in Hong Kong, Wu joins from ANZ, where he had been head of trading, North Asia, since 2014. In that role, he was responsible for managing the fixed income trading business for the bank in the Greater China region […]

TradAir Completes $11m Investment Round

TradAir has completed an $11 million Series D round, led by new investors GF Investments and the family office of Harvey Golub, former chairman and CEO of American Express. Existing investors, including Long Ridge Equity Partners and Viola Ventures, continued with their support and added to their investment in the round. Although it has not […]

In the FICC of it

This week’s podcast begins with Galen Stops, editor of Profit & Loss, giving his perspective on the attempts by US politicians to grill a Facebook representative regarding the planned launch of its new cryptocurrency, libra. Stops highlights the good, the bad and the ugly from the Senate and House hearings, but when Colin Lambert, managing […]

SocGen Begins Supporting Eurex FX Futures

Societe Generale (SG) is now supporting Eurex FX futures, from clearing to trading. SG’s clients will now be able to trade FX on Eurex, while any of the exchange’s clients will be able to execute bilaterally off-exchange against the bank or to move between OTC FX and listed FX using exchange for physical (EFP). Chris […]

Avelcom Adds Connectivity to Gemini

Avelacom, a provider of connectivity and IT infrastructure, has added Gemini Trust Company, a digital asset exchange and custodian, to its list of cryptocurrency exchange technology vendors in Equinix’s NY5 data centre. With this new partnership, Avelacom’s clients, including those that are already Gemini clients, can connect directly to the exchange’s infrastructure to access market […]

Atlas Bank Granted Credit Rating by Moody’s Subsidiary

Atlas Bank has been granted a BBB- rating and a stable outlook by Equilibrium, an affiliate of Moody’s Investors Service that provides credit rating services in Latin America. The bank claims that this makes it the first bank in Latin America providing clearing and settlement services to have obtained such a credit rating, which it […]

The Libra Hearings, Part Deux

So today it was the turn of the US House Committee on Financial Services putting Facebook’s proposed cryptocurrency, libra, under the microscope, and it was a vast improvement on yesterday’s hearing in the Senate. If you haven’t read the key takeaways from that hearing, you can find them here. Full disclosure: I had to run […]

Key Takeaways from Day One of the Libra Hearings

The US Senate Committee on Banking, Housing and Urban Affairs today held a hearing examining Facebook’s proposed cryptocurrency, libra, and I almost filled up a whole notebook taking notes, which I’ll try and distill into something coherent now. It was fairly compelling, although frequently frustrating and sometimes amusing, stuff. Firstly, it’s worth noting that the […]

CTAs Bounce Back in June

Commodity Trading Advisors (CTA) posted a 1.59% return in June, according to the Barclay CTA Index compiled by BarclayHedge, a division of Backstop Solutions. This follows a difficult month in May for these funds, when the Barclay CTA Index was down 0.19%. Year-to-date, the index is now up 3.84%. “Recession fears coupled with market anticipation […]