The foreign exchange post-trade infrastructure provider Cobalt, has announced that Standard Chartered is the latest client to sign, adding that as an emerging market bank, this move will allow more market participants to experience the benefits and cost savings that Cobalt’s infrastructure provides. “As a global FX participant we realise the need for market standardisation,” […]
Tag: Standard Chartered Bank
Standard Chartered Bank
Trading automation in the non-spot FX world is again firmly in the sights of Colin Lambert and Galen Stops in this week’s podcast, although this time it is in FX options. With SynOption launching in Singapore this week and Digital Vega expanding its capabilities further, they ask, ‘is this the time that the FX options […]
Standard Chartered Bank says it has executed its first FX trade using its newly set-up FX e-pricing engine in Singapore with a “significant” reduction in latency. The bank established its e-engine in the Singapore hub with support from the Monetary Authority of Singapore (MAS), which established and initiated a plan in 2017 to encourage more […]
Clearing house LCH has announced that it is the first clearing house to integrate with FX Connect TradeNexus, State Street’s FX trading platform that provides exception-based automated matching, trade and settlement confirmation enrichment and third party messaging. Kate Lowe, managing director, global head of TradeNexus, says, “Uncleared margin rules are changing the way the market […]
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 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.
Profit & Loss understands that Rene Schwarzl has left Standards Chartered Bank in Singapore where he was director, global macro sales.
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.
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.