Darren Dempsey has joined BNY Mellon in London as senior principal trader in the bank’s spot FX team, he will be responsible for trading G10 spot across the EMEA region. Dempsey joins from Stone Milliner Asset Management where he was a trader on the fund’s multi-asset principal execution desk for almost the past six years. Prior […]
Capitalab, a division of BGC Brokers LP, today announced the execution and subsequent compression of its first swaption margin optimisation trades leveraging LCH SwapAgent, a service for the non-cleared derivatives market. As part of Capitalab’s Rates Initial Margin Optimisation service, swaption notional was created between Nomura and Deutsche Bank and processed by LCH SwapAgent. The […]
The Cürex Group has announced that Jack Buckland has joined its ranks as vice president, European business development. Based in London, Buckland most recently worked in real money FX sales at Nomura International. Prior to that, he worked in institutional FX sales at Societe Generale with a focus on developing and growing buy side client relationships. Before moving […]
Nomura has made its five FX algorithmic strategies available on the BidFX platform. Clients can now access Nomura’s FX Algo Tsuwamono Series on BidFX. Each strategy offers flexibility on executions designed to meet client requirements and trading preferences. “Nomura’s FX algorithms provide substantial benefits to clients, with high levels of trading flexibility. We’re pleased that […]
Richard Boardman has joined RBC in London as a managing director, head of financial institutions. He will report to Jason Goss, co-head of European FICC sales. In this new role, Boardman will focus on broadening RBC’s financial institution sector presence from a solutions perspective, initially, with a heavy focus on the insurance client segment, the […]
Kate Massey has joined Nomura, working in e-FX sales and distribution for EMEA and Americas. Based in London, Massey will report to Ian Daniels, head of e-FX distribution at Nomura. She joins from EBS, where she had been working since 2011 in a number of different roles, most recently as a regional liquidity manager. Before […]
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 […]
P&L Report Card In terms of banks seeking to make a move up the e-FX ladder the field has thinned out in recent years, mainly because so many have achieved their ambition to either rebuild or to establish themselves. The good news from this is that this report card can be very brief! Probably the […]
Ian Daniels, executive director, head of e-FX distribution, EMEA, at Nomura, talks about algorithmic trading trends in the FX market.
Profit & Loss: Since you joined Nomura, you’ve been working on developing the bank’s algo offering, what are the latest developments there?
Ian Daniels: Our algos are now live on Bloomberg and will soon be live on a number of other major third party venues. I think that one of the benefits of being a later entrant into this space is that you have the experience of previous roll-outs to draw upon. So we knew that access to liquidity and the customisability of our algos would be important characteristics for our clients and that’s why we created algos that enable clients to execute in a default mode or that can be tailored to meet their specific needs.
LCH has received approval for an extension to its clearing licence from the Japanese Financial Services Agency (FSA). The licence extension was granted on 31 October 2018 and enables LCH’s ForexClear service to clear NDFs on behalf of banks and clients based in Japan.
This latest approval comes in addition to LCH’s existing licence to clear non-Yen OTC interest rate derivatives in Japan, which was granted by the FSA in 2016. Prior to LCH obtaining this latest licence, Japanese customers could only access ForexClear through international subsidiaries.