Tag: Standard Chartered Bank

Standard Chartered Bank

LCH Compresses $4.5 Billion in FX Outstandings

LCH says that its ForexClear members have reduced their notional outstanding by $4.5 billion through the use of the service’s compression solution. Citi and Standard Chartered Bank are among the first participants to actively compress their trades at ForexClear.
Compression is the process by which clearing members and their clients can eliminate offsetting trades to reduce notional outstanding and the number of line items in a portfolio. Capital requirements such as those introduced under the Basel III leverage ratio have incentivised banks to reduce notional outstanding.

Advanced Markets Adds Standard Chartered as PB

Advanced Markets has signed Standard Chartered Bank as a foreign exchange prime broker. The addition will further extend the range of clients that can use prime brokerage to trade via Advanced Markets’ Direct Market Access (DMA) liquidity infrastructure.
Standard Chartered will provide prime brokerage services to the newly launched FCA-registered Advanced Markets (UK) Limited operation based in London as well as the company’s ASIC-registered operation in Australia. The companies operate as independent entities and will have discrete prime brokerage accounts at the bank.

Two More Exit StanChart?

Market sources tell Profit & Loss that Standard Chartered Bank has seen two departures from its G10 FX trading ranks, just weeks after four other traders in the bank’s e-FX and NDF trading teams were reported to have left.
Graham Smallshaw, director of G10 FX trading at Standard Chartered in Singapore, has apparently resigned from the bank as has Ashley Fox, a G10 FX trader at Standard Chartered in London, who has also apparently left the bank for another role.

Standard Chartered Loses Four?

At least four members of Standard Chartered Bank’s voice and trading team have apparently left the bank in the last two weeks according to market sources.
The sources say that Shiyuan (Bob) Qi, the bank’s CNH trader in Hong Kong, Bill Greene, from the bank’s e-trading tea in London, Edison Li, an NDF trader in London and Singapore-based Patrick Yeo, another NDF trader, have all left.
The sources suggest that other traders may have also have left the bank but are unable to provide details.