Looking at the post-pandemic world of FX trading, will there be a return to the previous structure or will a nuanced FX market structure emerge? Ulrich Leuchtmann, head of FX and EM research at Commerzbank, and Andre Besant, managing director and head of GFX Germany at Deutsche Bank, joined Profit & Loss managing editor Colin […]
Interest rate derivatives platform, Trad-X, added two German institutions to its dealer-to-client (D2C) electronic central limit order book (CLOB). Commerzbank will provide liquidity on Trad-X D2C and stream two-way pricing to a range of smaller banks and buy side clients on Eurex cleared instruments, while Frankfurt-based DekaBank joined the platform as a non-dealer. More than […]
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 […]
360T has announced the expansion of its algo suite.
“The need to enhance our integrated solutions with the continued innovation of our bank partners has never been more important for our clients, we are excited about this investment – now with over 60 Algo strategies, this will ensure our customers have access to market leading solutions in their execution decisions, as part of their 360T solution,” says Carlo Kölzer, CEO of 360T.
The 360T Algo suite is integrated into clients’ existing workflow via 360T TEX and the 360T EMS, which offers advanced workflow solutions, liquidity and compliance tools to the institutional and corporate market.
LMAX Exchange has named Roland White to the newly created position of global head of institutional sales. He joins from Commerzbank where he was head of e-FX sales for eight years.
At LMAX he will report to CEO David Mercer and will be responsible for advancing the LMAX Exchange global growth agenda in the institutional segment, leading the institutional sales team and deepening relationships with institutions internationally.
In addition to his time at Commerzbank, White has, over a 28-year career, also held sales positions at EBS, Cognotec, Reuters, Citigroup and Standard Chartered.
Commerzbank and German corporate Thyssenkrupp say that this week they traded an FX forward with the transaction being instantaneously replicated in a Blockchain successfully.
The use of Blockchain completely eliminates the need for a manual or semi-automated reconciliation between the client and the bank, thereby drastically reducing operational risks in FX transactions, the firms say.
The deal was in a one month EUR/PLN in EUR 500,000, and was initiated by Thyssenkrupp using FX Live Trader, Commerzbank’s FX trading platform. The deal confirmation was sent to Thyssenkrupp directly via Corda, a distributed ledger designed for finance by the R3 blockchain consortium. ?
Nick Downes has formally left Commerzbank in London where he was global head of electronic distribution.
Downes spent five years with Commerz having joined the bank from a two year stint with Bank of America Merrill Lynch, where he was head of e-FX sales for EMEA.
Prior to BAML, Downes was head of e-FX bank sales at Citi for two years, having joined the bank from a five year spell at UBS where he latterly was head of FX bank marketing.
P&L Report Card: We have to repeat ourselves at the start of this award write up. There is, as we have experienced over the past three years, a degree of sensitivity over who we consider “regional” or “super regional”! Generally speaking we have sought to target this award at banks from outside the top 10 e-FX institutions that are helping regional customers. It’s part emerging markets and part technology provider. The field is quite broad for this award, anyone who, for example, empowers customers and other banks can be considered, but we want that little twist that is a focus on certain regions.
Jonas Schirm has joined Barracuda FX as senior business consultant.
Based in London, he joins from Commerzbank where he worked in FX sales for several years and reports to Fraser Devlin, global head of sales for Barracuda.
Market sources tell Profit & Loss that Paul Scott, global head of spot and e-FX trading at Commerzbank, has left the bank.
Scott, who was based in Singapore, is believed to have left return to his native Australia, no replacement has yet been named according to informed sources.
Scott joined Commerzbank in Singapore in 2007 as head of e-FX for Asia before assuming his current role in 2009. He joined the bank from Melbourne-based Kaiser Trading, where he managed the trading business.