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Foreign Exchange

Cognotec’s Maccaba still has hopeful expectations

The buzz around the market suggests Cognotec, the Irish-based technology provider, is looking for new funding, which may be in part a long-term consequence of losing out on a deal to supply UBS with a retail trading platform.

December 14, 2007

Foreign Exchange

Another year, another dollar

Some of you will no doubt be pleased to hear that this is the final weeklyFiX of 2007.

December 14, 2007

Foreign Exchange

BIS explains market growth

The Bank for International Settlements has explained what it sees as the factors behind the robust growth in the FX market. I won’t regurgitate the whole of the latest BIS Quarterly Review – I’m paid by the word and my editor won’t wear such a blatant attempt to get a Christmas bonus. If you want to see the whole thing, follow this link: http://www.bis.org/publ/qtrpdf/r_qt0712.htm.

December 14, 2007

Foreign Exchange

RBS saves on golf clubs

RBS has been offering a golf driver to new clients signing up for its spread betting service in the UK, provided by CMC Markets. However, word reaches me that so far this has not cost too much money. In fact, I hear that all of the clubs it’s given away could quite easily fit into one golf bag.

December 14, 2007

Foreign Exchange

Craig Donohue: Once a dealer, always a dealer

I had a small chuckle at a recent profile in Crain’s Chicago Business of CME chief executive Craig Donohue.

December 14, 2007

Foreign Exchange

NFA acts again

US regulator the National Futures Association (NFA) really seems to have the bit between its teeth. This week it has permanently barred another dodgy dealer from NFA membership.

December 14, 2007

Foreign Exchange

Icap does it all for charidee

It was off to Icap’s head office in London on Wednesday to see what was going on at the company’s 15th annual charity day. Approaching the building, I couldn’t fail to notice a motley bunch of brokers running around in fancy dress.

December 14, 2007

Foreign Exchange

People moves: Goldman poaches from Barclays

Moneybags Goldman Sachs, the institution that pays out more in bonuses than many other banks are capitalised at, has poached Tom Robinson and Myles Bullock from Barclays. I’d like to say that Robinson sang, “Two, four, six, eight, I just can’t wait,” when I contacted him, but that would be complete Bullocks, so to speak.

December 14, 2007

Foreign Exchange

People moves: Quod Financial appoints head of global sales and marketing

Algo provider Quod Financial has appointed Andy Menzies as its executive vice-president, sales and marketing. Menzies was formerly vice-president of worldwide sales at Apama, the algorithmic trading division of Progress Software.

December 14, 2007

Foreign Exchange

People moves: Changes at Credit Suisse

Simon Meadows has apparently moved across from his senior role in fixed income sales to Credit Suisse’s FX operations. No details as yet of what this means for the bank’s structure. Credit Suisse declined to comment, although separately it has confirmed that Grant Scott Douglas, who joined the bank earlier this year in hedge fund sales, left this week for an unknown destination.

December 14, 2007

Foreign Exchange

People moves: Working your notice

Word reaches me that Calyon is making one of its London-based team work his notice on the options desk before he heads off for pastures new. Not sure what he’s doing – counting paper clips probably. It seems very quaint.

December 14, 2007

CAPITAL MARKETS

European Commission reads the riot act on securitisation

The European Commission has demanded a comprehensive action plan to right the wrongs in European securitisation by the end of January – and has threatened serious consequences if it doesn’t get it.

Louise Bowman, December 14, 2007

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