Tag: Credit Suisse

Credit Suisse

Credit Suisse Appoints Two in e-FX

Credit Suisse has made two appointments to its e-FX business. Rory Barnes recently joined the e-FX team in London from FXSpotstream where he spent five years, he reports to Tony Sands, head of e-FX sales EMEA with a focus on building out both the bank’s principal and AES FX algo products. Alex Orr has also been […]

New Settlement Workflow Use Case Live

AccessFintech has announced the completion of production launch and says it is now live with a new industry use case aimed at enhancing and improving the market’s settlement exception resolution process. The company has partnered with four banks in this effort, with Citi, Credit Suisse, Goldman Sachs and JP Morgan jointly launching an industry-wide collaboration […]

Credit Suisse Deploys Trading Exception Management Solution

Credit Suisse has announced the internal launch of AccessFintech’s trading exception management solution, taking, the bank says, an important step towards streamlining exception management resolution across the prime brokerage industry. It adds the new technology will reduce the time needed to resolve exceptions and help clear bottlenecks that could prevent trade settlements as well as promote better […]

Credit Suisse Hires Callaghan

Brittany Callaghan has joined Credit Suisse as vice president, electronic FX sales, based in New York. Callaghan joins the bank after four years at FXSpotStream in a sales role. Prior to that, Callaghan was an associate at Societe Generale and spent over five years as an analyst at JP Morgan.

The 2019 Digital FX Awards – The Winners

This year Profit & Loss decided to update the format and judging categories of our annual Digital FX Awards. The process remains subjective but we have not restricted ourselves to the narrow confines of previous years’ categories. Instead of many of the categories, we have created Awards for Excellence in e-FX, something that we believe […]

Awards for Excellence in e-FX – Credit Suisse

Agency Swaps The starting point for this award is that we think, finally, e-ratios in FX swaps are going to climb and also that at some stage there will be an ECN-type venue or venues servicing the major dealers. If that is indeed the case then at some stage inevitably thoughts will turn to the […]

Show Me the Money

Looking at some recent hedge fund surveys, one clear trend emerges: hedge fund fees are under continued pressure. Galen Stops takes a closer look.

Each year, many of the largest investment banks publish extensive surveys regarding investor appetite and expected asset flows for the coming year. In many regards, trying to compare these surveys is tricky, given that each bank collects different data sets and then reproduces this data in very different formats.

One thing was made abundantly clear in the latest batch of surveys, however, and that is hedge fund fees are continuing to come under pressure from investors.

Former Goldman FX Head to Be Questioned as Witness Over Benchmark Manipulation

Former European head of FX spot trading at Goldman Sachs, Mitesh Parikh, has been told he must submit himself to questioning by US authorities over the benchmark manipulation lawsuit brought against a group of banks.
The class action lawsuit was brought against 15 banks, 14 of which have settled. The remaining bank yet to agree a settlement – which was finalised in New York earlier this month – is Credit Suisse. In a judgement released by the UK High Court this week, it is revealed that Parikh has lost his application to avoid giving oral testimony in New York.

EC Levels FX Charges Against Credit Suisse

Credit Suisse has revealed in its Q2 financial report that the European Commission (EC) is alleging that the bank engaged in anti-competitive practices relating to its FX business.

“On July 26, 2018, Credit Suisse Group AG and certain affiliates received a Statement of Objections from the European Commission (Commission), alleging that Credit Suisse engaged in anti-competitive practices in connection with its foreign exchange trading business. The Statement of Objections sets out the Commission’s preliminary views and does not prejudge the final outcome of its investigation,” the report states.

A spokesperson for Credit Suisse declines to comment on the news.

LCH Clears First SOFR Swaps

LCH says it has cleared the first dollar interest rate swaps referencing the Secured Overnight Financing Rate (SOFR), which was identified last year by a committee established by the Federal Reserve as representing the best alternative reference rate for benchmarking dollar interest rate derivatives.
SOFR was first published by the Federal Reserve Bank of New York in April 2018, LCH says Credit Suisse, Goldman Sachs and JP Morgan were among the first participants to clear swaps using the new rate.