Tag: Commodities

Commodities

Investors Optimistic on Rebound: BofA Survey

Global investors polled in July were optimistic about a rebound in economic activity, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. In July, a net 72% of fund managers looked for global growth to strengthen in the coming year, up from a net 61% with that view in June […]

Marex Appoints Vittal in US

Commodities brokerage Marex Spectron has appointed Ram Vittal as CEO of North America. He will be based in New York and report to Ian Lowitt, group chief executive. He joins from JPMorgan Chase, where he was managing director and head of treasury services franchise client management spearheading client solutions leveraging data analytics and digital technologies. […]

Awards for e-FX Excellence – Goldman Sachs

First up, Marquee is definitely benefiting from the HTML5 deployment, it has always been a good platform visually, and that has only been enhanced with the sharper graphics and more flexible functionality that move has allowed. As we have already noted, the GUI remains uncluttered by the bank reintroducing some of the popular features of […]

Awards for e-FX Excellence – JP Morgan

Aside from the multi-award winning mobile solution, everything we want to say about JP Morgan’s FX business has already been stated in our Best Execution and Best FX Platform awards, so we will focus our attention on other aspects of this superb platform’s offering. Before we do, however, it would be remiss not to detail […]

FMSB Finalises Market Colour Best Practice

The FICC Markets Standards Board (FMSB) has published the final version of a Statement of Good Practice on the issue of Information & Confidentiality, which seeks to bring clarity to what it terms the complex issue of sharing information in fixed income and commodities markets and dealing with confidential information within a firm. FMSB says […]

A Closer Look At: Driving Automation in Commodities

In the past year JP Morgan began offering clients a cocoa arb via its e-trading platform. Filippo Finelli, global head of commodities automated trading strategies (ATS), and Sandy Sehmi, commodities e commerce product head, discuss how this is part of their broader effort to bring more automation to commodities trading. Profit & Loss: So tell […]

Trading Firms Cry “Last Look” in the Futures Market

As a futures exchange proposes a new speed bump mechanism, a number of market participants are coming out in opposition to it. Some of the arguments they’re making will sound familiar to those in the FX markets, says Galen Stops. On February 1 the Intercontinental Exchange (ICE) put the cat amongst the proverbial pigeons by […]

Former UBS Trader Fined by US Court for Spoofing

A US District Court in Connecticut has issued a Final Judgment and Consent Order against Andre Flotron, a former precious metals trader for UBS, requiring him to pay a $100,000 civil monetary penalty for spoofing and engaging in a deceptive or manipulative scheme through his spoofing in violation of the Commodity Exchange Act (CEA) and CFTC Regulations.
The Order also imposes a one-year trading and registration ban. Flotron was one of eight traders from three institutions charged by the Commodity Futures Trading Commission (CFTC) over a spoofing scheme.

Marex Spectron Acquires Customer Base of RCG

Commodity broker Marex Spectron has signed an agreement to acquire the customer business of Rosenthal Collins Group (RCG), an independent Futures Commission Merchant (FCM).
The acquisition is expected to complete in January 2019 and Marex says it will maintain the RCG name and brand, gain 14,000 client accounts and balances, 150 associated staff and the Chicago headquarters. RCG has little overlap with Marex Spectron’s existing North American business, which operates out of New York, Calgary, Connecticut and Houston, the firm says.

Boillereau Exits HSBC

Frederic Boillereau has left his position as head of global FX and commodities and head of global markets corporate services, at HSBC.

Based in London, Boillereau leaves after 20 years at the bank.

“I would like to take this opportunity to thank Frederic for his significant contribution since joining HSBC 20 years ago. His efforts have ensured the FX and global markets corporate services businesses are better placed to serve our client base with the products and services they need. I wish him well for the future,” says Thibaut de Roux, head of global markets at HSBC, in an internal memo seen by Profit & Loss.

In the memo, which was distributed internally at the bank on Friday, Rahul Badwar was named as the new head of global markets corporate services.