NY FXC Responds to Arrests

The New York Foreign Exchange Committee (FXC) has responded to the arrests of 48 people connected to the FX markets in New York (Squawkbox, November 24) in a statement signed by chairman David Puth. The committee reminded FX market participants of its 2002 Guidelines for Foreign Exchange Trading Activities. The statement divided the two elements […]
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IFX Acquires Zenith and Polpo

With effect from today, IFX Capital Management has acquired the rights and personnel behind the Zenith Program and the Polpo IFX Program. John Williams, head of trading, and Philip Jones, director of FX, will be responsible for the programs’ activities and will take new positions at IFX’s offices in London. According to the company, day-to-day […]
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Nicholls Transfers to Deutsche London

David Nicholls will become head of global finance London at Deutsche Bank in January, a newly created role responsible for all aspects of the global finance business in the UK. He will report to Lou Ghirardello, European head of global finance. Nicholls is currently head of global markets, Canada, having joined the bank in 1996. […]
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Deutsche Puts Options Online

Deutsche Bank has added FX option execution to its online capabilities with a new module for its Autobahn FX platform. The initial phase, which goes live today, provides users with executable streaming volatilities for calls, puts, at-the money options, risk reversals and strangles in 10 currency pairs according to strike or delta (Deutsche provides electronic […]
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BarCap Adds Kay

Barclays Capital continues its recent raft of hires with the appointment of Allyson Kay as a director in FX sales in New York. She reports to Eric Price, managing director and head of FX distribution, Americas, and works alongside Tom Leonard who joined recently with the same title (see Squawkbox, November 24). Kay and Leonard […]
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ING Strengthens Taiwan FX

ING Financial Markets has appointed Jeson Yih-Liang Liu as director and head of financial markets in Taiwan. He reports to Percy Rueber, head of financial markets, Asia, and Wu Ching-mai, country manager for Taiwan. Liu’s role supports the ING’s efforts to increase its presence in local currency FX, derivative and debt markets, as well as […]
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SG CIB Reorganises at the Top

SG Corporate and Investment Banking (SG CIB) last week named Vincent Cazala co-head of FX and treasury, resulting in a chain of modifications within its debt finance operation. Cazala works alongside Stephane Landon, who holds the same title. Cazala has been with Societe Generale Group since 1990 and his new role sees him transfer to […]
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Oumeddour Joins RBS

Veronique Oumeddour joined the Royal Bank of Scotland (RBS) in Paris on November 17 to develop e-distribution of financial markets products in continental Europe, the bank confirms. She is working in RBS’s e-commerce business, reporting to Martyn Ranns, head of e-distribution. The team is headed by London-based Tom Roche, managing director, head of e-commerce and […]
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Special Report: Risks Rise as Banks Look Down the Chain

Last week’s arrests in New York shocked the majority of the foreign exchange market; however, there are some that believe activities such as those alleged have been going on for many years. Certainly the predominance of experienced market practitioners (just six of the 48 arrested are under 30 and half are over 40 years of […]
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AIG Reportedly Cuts Staff

Continuing the rumours of consolidation that have been swirling around AIG Financial Products and AIG Trading for the last six months (see Profit & Loss, July/August 2003), the parent organisation is said to have let about 70 people go on Wednesday. Most of the positions being removed are thought to be in the back office, […]
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