FX Veteran Grabs Top Level Role at State Street
Mon 25th Aug 200806:00:00
State Street has appointed industry veteran David Puth to a newly created position as head of investment research, securities finance and trading activities globally
July/August 08
15 Minutes of Fame: MarketFactory Basks in the Limelight
Also in this issue:
Retail FX Grows Up
LIBOR Under Pressure as Concerns Grow
Russian Economy Weathering the Financial Storm?
Crouching Tiger, Hidden Dragon
Bank of America Strengthens FX Business
Mon 25th Aug 200806:00:00
Bank of America last week revealed its most recent senior level additions to its New York and London foreign exchange teams
SEB Launches Multi-Manager Currency Fund
Mon 25th Aug 200806:00:00
SEB Asset Management last week (August 20) went live with its first ever multi-manager currency fund
China Grants First Non-Bank FX Licence to Travelex
Mon 25th Aug 200806:00:00
In a move that signifies a liberalisation of China’s foreign exchange regulations, Travelex has been awarded an ‘Authorised Foreign Exchange’ licence by the Chinese government
Fed Man in Shift to Fund?
Mon 25th Aug 200806:00:00
Market sources report that a member of the trading team at the Federal Reserve Bank of New York is to leave the central bank
JSE to Introduce Currency Options
Mon 25th Aug 200806:00:00
The Johannesburg Stock Exchange (JSE) is to launch currency options trading at the exchange, according to sources within the JSE
CME Wins Shareholder Backing for Nymex Takeover
Mon 25th Aug 200806:00:00
CME received the backing of the minimum 75% of Nymex members and minimum 50% of shareholders last week (18 August) in its takeover bid
Smith Likely to Head Merged Tullett/GFI Group: Reports
Mon 25th Aug 200806:00:00
Tullett Prebon’s CEO Terry Smith and chairman Keith Hamill are likely to retain their positions in a combined Tullett/GFI Group entity if the merger goes ahead
India FX Futures to Launch 29 August
Mon 25th Aug 200806:00:00
The National Stock Exchange of India (NSE) is launching currency futures contracts on 29 August, following receipt of final regulatory approvals this month (see Squawkbox 18 August)
Citi Reorganises Asia Businesses Including Markets Unit
Mon 25th Aug 200806:00:00
Citi is reorganising its Asia Pacific businesses, resulting in its Markets unit, which includes foreign exchange, becoming one of seven product groups
Japan TFX Adds More Currencies for Margin Trading
Mon 25th Aug 200806:00:00
The Tokyo Financial Exchange (TFX) will allow margin trading in a new range of currencies and non-Japanese yen crosses from 27 October, according to media reports on Friday
CME Adds to London Sales Force
Mon 25th Aug 200806:00:00
David Emerick has joined CME Group’s foreign exchange sales team in London
4Cast Adds to Sales Team
Mon 25th Aug 200806:00:00
Foreign exchange analysis company 4Cast has hired two salespeople to its London team
Lien and Schlossberg Move To GFT
Mon 25th Aug 200806:00:00
Currency strategists Kathy Lien and Boris Schlossberg have joined online trading firm GFT in New York as directors of research within the currency research division
State Street Unveils the OTC Hub Platform
Mon 25th Aug 200806:00:00
State Street has launched a derivatives servicing platform that performs automated middle and back office processing for over-the-counter (OTC) derivatives
New Citi and Korea Securities Depository Service to Improve FX Settlement
Mon 25th Aug 200806:00:00
Citi Securities and Fund Services (Citi SFS) and the Korea Securities Depository (KSD) have formed an agreement to provide daily turnaround investment services
Deutsche Bank Launches Index to Hedge Asian Inflation
Mon 25th Aug 200806:00:00
Deutsche Bank has launched the db Asian Inflation Proxy Index, a tool that tracks inflation in Asia, excluding Japan, and enables investors in Asia to hedge inflation in the region
Gold Futures Offered on Thailand Exchange
Mon 25th Aug 200806:00:00
Gold futures priced in Thai baht will be launched by the Thailand Futures Exchange (TFEX) next month
MG Forex Launches new Platform
Mon 25th Aug 200806:00:00
MG Forex, a retail foreign exchange trading provider which is part of MG Financial Group, has released a new trading platform
Saxo Bank Sees Positive Results
Mon 25th Aug 200806:00:00
Saxo Bank has reported profits before tax of €21.7 million in the first six months of 2008, a growth of 57% compared to €13.9 million in 2007
FXCM Reports Record Volumes in July
Mon 25th Aug 200806:00:00
Online retail foreign exchange provider Forex Capital Markets reported record volumes traded in July
Around The World…
Mon 25th Aug 200806:00:00
Some items that grabbed the attention of the Squawkbox editorial team this week…
And Finally…
Mon 25th Aug 200806:00:00
In spite of all those jokes we used to play on the trainee surrounding sending him or her to the bank to exchange our sterling for Scottish pounds ahead of a desk weekend away, readers may be surprised to hear that a week on holiday in sunny (not!) Scotland does not stimulate the foreign exchange juices
