FX options
In this week’s podcast Colin Lambert is keen to find out more from Galen Stops about a new peer-to-peer FX platform being created, we’re not sure but this interest may stem from his recent statement that anyone who thinks the concept could work lives in “Narnia Land” This week’s episode also takes a look at […]
A new report from Greenwich Associates argues that the incoming Uncleared Margin Rules (UMR) will fundamentally change the economics of OTC FX options trading to a point where buy side firms will increasingly trade these products on listed exchanges. “Historically, most FX options trading was done over the counter, but UMR has the potential to […]
Pulse It is fair to say, we think, that Citi’s Pulse is the ultimate corporate solution, so much so that this is the ninth year in a row it has won a Digital FX Award. As a workflow solution it is par excellence but its real strength lies in the nuances and flexibility around the […]
Digital Vega hired Simon Lewis as head of interdealer solutions and Romain Camus as head of exotic options.Prior to this role, Lewis spent 20 years at Tullett Prebon, building an exotic options desk from scratch and ultimately being appointed as global head of FX options until leaving the firm in 2016.Camus joins from VTB Group, where he was executive director, head of FX structuring. He previously worked at Goldman Sachs and Deutsche Bank as a structurer.
“We are very pleased to welcome Simon and Romain to our growing team. They bring extensive domain knowledge, many years of experience working in our core markets, and valuable contacts that will help to fuel our development,”
Barclays has announced the appointment of Pritpal Gill as head of G10 foreign exchange and FX options trading for Asia Pacific. Based in Singapore, he will be responsible for developing and driving the G10 FX Trading strategy in the region, the bank says.
Gill has over 25 years of FX experience, mostly with Citi, from where he joins. He started his career at Citibank in London trading vanilla and exotic FX options, before moving eight years later to Lehman Brothers as global head of FX options trading. He then returned to Citi as head of FX trading for Asia, based in Singapore.
Today’s Irrational is very much based upon the ethos in which the accolades were imagined – in other words it’s based upon nothing more than its ability to irritate me. If we are being honest, this year has not been a vintage one for headlines – I don’t know if it’s me but I sense the world is getting worn down by the constant bickering amongst politicians, most of whom turn to (at best) half truths when challenged. Throw in an increasing wariness of publicly stating anything humorous for fear of upsetting someone (which is very easy to do, another facet of today’s world seems to be extreme sensitivity) and the quality of headlines we saw just a year or two ago have gone missing.
In this week’s podcast, Galen Stops lights the blue touchpaper and steps back to watch the fireworks by asking Colin Lambert about not only the Benchmark Fix, more specifically the research paper published this week, but last look as well following the news that a regional regulator is investigating the practice. Just to add to the mix, he also gets him going on another Lambert favourite, tracking error.
They also discuss the FX Global Code and fintechs and ask, ‘should they be adhering and signing up to the Code?’ and Lambert shares some reader feedback on this week’s opinion piece on FX options brokerage.
The US Commodity Futures Trading Commission (CFTC) has charged interdealer broker TFS-Icap with fraud and supervision failures.
In a Complaint filed in the US District Court for the Southern District of New York, the CFTC alleges that, from approximately 2008 through 2015, brokers at TFS-Icap offices in the US and the UK routinely attempted to deceive – and did deceive – their clients by engaging in the practices of communicating to them fake bids and offers and fake trades in the FX options market.
BNP Paribas has appointed Baris Temelkuran as global head of G10 FX options trading.
Based in London. Temelkuran joins the G10 FX management committee and reports to Neehal Shah, global head of G10 FX trading.
Baris joins from Goldman Sachs, where he worked for 12 years, most recently in charge of its G10 and emerging market FX exotic options trading globally.
In addition to Temelkuran, BNP Paribas has also added to its G10 FX options trading business with three further hires over the summer. Karim Javeri and Richard Collins joined the bank from Citi, and Adam Baines joined from Credit Suisse. All three are options traders and will report to Temelkuran.
BNY Mellon has launched its FX options desk, enabling clients to better hedge currency exposure and express their views on the future direction of FX markets.
The bank says that clients now have access to a full-service currency trading desk, offering spot, forwards, non-deliverable forwards as well as options. “This offering complements an existing suite of broader FX services including FX custody, payments and hedging,” it adds.
Options represent the latest step in a broad build out of BNY Mellon’s FX business – the bank has made a series of senior hires over the past two years and in January announced plans to launch an FX prime brokerage service.
