BarCap Adds Leonard

Tom Leonard, formerly a sales dealer at HSBC in New York, has joined Barclays Capital, as a director, confirms Ivan Ritossa, London-based global head of FX. Leonard will report to Eric Price, New York-based managing director and head of foreign exchange distribution for the Americas. At HSBC, he was a senior vice president for FX […]
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Ferraro Joins Lehman

Martin Ferraro is to surface at Lehman Brothers in New York, a spokesperson confirms. He will join Lehman as executive director and senior sales person in institutional FX on December 1, reporting to Mark De Gennaro, New York-based global head of FX sales. Ferraro left BNP Paribas last week. He had been head of FX […]
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Forex Market Shaken By US Sting Operation

The investigation was conducted jointly by the Office of the United States Attorney and the New York Office of the Federal Bureau of Investigation (FBI) in conjunction with the Commodity Futures Trading Commission and the US Securities & Exchange Commission. According to the FBI, two different types of fraud are being alleged. What is known […]
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Saxo Live on CLS via UBS

Saxo Bank has become a third party settlement member of Continuous Linked Settlement through UBS. Fourth party members of CLS through Saxo and UBS will be able to begin trading in the New Year, with a spokesperson noting that it could add substantial flow to CLS’s figures. Saxo currently has more than 30 white label […]
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Mallon Joins Westpac

Dorene Mallon has joined Westpac in New York as a senior vice president of institutional FX sales, a spokesperson confirms. She joins from HSBC New York, where she held a similar role, and reports to David Beale, Westpac’s London-based global head of FX institutional sales. The spokesperson says that the hire is a response to […]
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Hedge Funds Warned of Black Eye

Capco, the financial services and technology provider, has predicted that valuation issues of hedge funds are likely to become the next major “black eye” for the hedge fund industry. “Unless certain practices become more widespread, the industry faces a potential crisis of confidence with institutional and high net-worth investors,” say Stuart Feffer and Christopher Kundro, […]
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Battle Hots-up for SSIs

LogicScope has formed an alliance with CB.net, a global reference data provider, to offer financial institutions a database of standard settlement instructions (SSIs) under the name SSI Financial. CB.net says it has a database of over 70,000 SSIs for 8,300 bank identifier codes that are updated daily by both banks themselves and from data supplied […]
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Lambert Joins Standard Life

Bill Lambert has become head of middle office at Standard Life Investments, a new role created following the decision to outsource the company’s investment administration to Citigroup. He will be responsible for managing relationships with investment and client fund groups, the company says, and will work closely with William Littleboy, operations director. Lambert has spent […]
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Spectrum Global Fund Adds Two

Spectrum Global Fund Administration has made two hires and a promotion to help it deal with what it calls a rapidly expanding customer base. The company began as a technology consulting firm but expanded last year to become an administrator of hedge funds, funds of funds and family offices. Gary Taylor becomes part of the […]
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MFA Backs CFTC Review

The Managed Funds Association (MFA) has said that it firmly supports the development of competitive markets and an expeditious but thorough review by the Commodity Futures Trading Commission (CFTC) of Eurex subsidiary US Futures Exchange’s (USFE) application to become a contract market. “As the principle representative of end-users of futures exchanges, MFA believes there is […]
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