In the FICC of it is one year old this week, and, aside from expressing surprise they got this far, Colin Lambert and Galen Stops celebrate by plunging into two of the themes covered in the first podcast that still resonate today. Stops talks about the evolution of Euronext FX and has two questions for […]
Scepticism abounds in this week’s In the FICC of It podcast as Colin Lambert and Galen Stops take a look at the latest bank to unveil a digital markets strategy – including all your favourite buzzwords. While Stops believes this is the latest move in what will be a growing trend, our podcasters also wonder whether it’s not really just a rebranding exercise?
They then move into more traditional areas and discuss JP Morgan’s survey on FX market conditions, and while they agree with a lot of the findings, there are one or two areas that raise an eyebrow, not least around internalisation and AI.
AI-generated trading and liquidity are also the forefront as they move on to share their thoughts around the flash crash in Jardine Matheson stock last week in Singapore, including asking the question, what does it mean for market maker programmes and certain order types?
The discussion then moves on to look at the latest FX turnover surveys from the world’s FX committees, with particular attention on three interesting/puzzling (delete as appropriate) elements of the UK report surrounding RMB, NDFs and voice brokers.
The podcast ends on with Lambert praising “the optimism of youth” after Stops highlights what he thinks could be a very important line at the end of the latest document detailing an FX-related fine in the US – in other words, the cynic in him won the day!
Barclays announced three senior appointments that it says will help to digitise its markets business.
Nas Al-Khudairi was promoted to oversee electronic trading platforms based in London, Mauricio Sada-Paz has joined the bank in London as global head of e-FICC product and distribution, and Brett Tejpaul has been promoted to lead digital strategy for Barclay’s markets business, alongside his existing markets client strategy role, in New York.
According to Barclays, the bank expects its digitisation strategy to be instrumental in defending its business and pursuing new revenue opportunities in the face of technological advances that are disrupting the status quo of the banking industry.
Nomura has announced a number of changes to its senior management structure that includes a new role for Nigel Khakoo, formerly managing director and global head of FX trading.
Based in London, Khakoo is set to transition to a newly created role as global head of quantitative analytics and wholesale CTO. In this position, he will be responsible for leading the bank’s efforts to enhance its quantitative client proposition and build a technology strategy that delivers new products across the wholesale business. Khakoo will report into Steve Ashley, senior managing director, head of wholesale and global markets at Nomura.