19 May 2014
Rabobank has confirmed that it is discontinuing its FX prime brokerage (PB) business. A spokesperson from the bank tells Profit & Loss: “The bank considers these specific activities to only partially align with our strategy. We will support the clients affected, through the diligent winding up of the relevant services.”
To read this article in full, please go to http://www.profit-loss.com/?q=node/27317
About Me
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- Joy Macknight
- Freelancer of the Year at Aviva Investors Sustainability Media Awards 2025. I am a former editor of The Banker, a Financial Times publication. I joined the publication in August 2015 as transaction banking and technology editor, was promoted to deputy editor in September 2016 and then to managing editor in April 2019. The crowning glory was my appointment as editor in March 2021, the first female editor in the publication's history. Previously I was features editor at Profit&Loss, editorial director of Treasury Today and editor of gtnews.com. I also worked on Banking Technology, Computer Weekly and IBM Computer Today. I have a BSc from the University of Victoria, Canada.
Sunday, 30 November 2014
ASIC Bans Former Sydney Trader Due to Fictitious Trading
21 May 2014
The Australian Securities and Investments Commission (ASIC) has banned Jeremy Nambiar from providing financial services for eight years after an ASIC investigation found he created a series of fictitious trading entries and had created a false document to conceal a loss of more than $1 million in AUD/USD spot FX.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27322
The Australian Securities and Investments Commission (ASIC) has banned Jeremy Nambiar from providing financial services for eight years after an ASIC investigation found he created a series of fictitious trading entries and had created a false document to conceal a loss of more than $1 million in AUD/USD spot FX.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27322
RBS Withdraws From Rates Prime Brokerage and Rates OTC Clearing
21 May 2014
The Royal Bank of Scotland has confirmed that it is winding down its Rates prime brokerage and Rates OTC clearing businesses. The bank cites the “increasing level of capital, operating costs and investment that would be required for the business to be globally competitive in a market with extremely thin margins” as the reason for withdrawing from these businesses.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27323
The Royal Bank of Scotland has confirmed that it is winding down its Rates prime brokerage and Rates OTC clearing businesses. The bank cites the “increasing level of capital, operating costs and investment that would be required for the business to be globally competitive in a market with extremely thin margins” as the reason for withdrawing from these businesses.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27323
Credit Suisse Cuts Six From FX Team
14 May 2014
Credit Suisse has offered redundancy packages to six employees in its foreign exchange team. This is part of a cost-cutting exercise across its Global Macro Products group, which includes Rates, FX and commodities.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27299
Credit Suisse has offered redundancy packages to six employees in its foreign exchange team. This is part of a cost-cutting exercise across its Global Macro Products group, which includes Rates, FX and commodities.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27299
Marex’s New FX Team Exits Within a Year
14 May 2014
Marex Spectron has lost three FX sales executives, less than one year after bringing them in to lead its new agency broking desk. Peter Snasdell, Keith Mash and Paul Spillman have left the commodities and financial markets broker. All three joined as senior vice presidents in July last year and were based at its headquarters in London.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27300
Marex Spectron has lost three FX sales executives, less than one year after bringing them in to lead its new agency broking desk. Peter Snasdell, Keith Mash and Paul Spillman have left the commodities and financial markets broker. All three joined as senior vice presidents in July last year and were based at its headquarters in London.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27300
FTT Could be Implemented as Early as 2016
11 May 2014
The Financial Transaction Tax could be rolled out as early as 2016 for the 11 Eurozone countries that have signed up to participate, including Germany, France, Spain, Italy, Belgium, Austria, Portugal, Greece, Estonia, Slovakia and Slovenia.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27280
The Financial Transaction Tax could be rolled out as early as 2016 for the 11 Eurozone countries that have signed up to participate, including Germany, France, Spain, Italy, Belgium, Austria, Portugal, Greece, Estonia, Slovakia and Slovenia.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27280
Euroclear and DTCC Partner on Collateral Processing Joint Venture
11 May 2014
Euroclear and The Depository Trust & Clearing Corporation (DTCC) are finalising negotiations to establish a joint venture to deliver a collateral processing infrastructure.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27282
Euroclear and The Depository Trust & Clearing Corporation (DTCC) are finalising negotiations to establish a joint venture to deliver a collateral processing infrastructure.
To read this article in full, please go to http://www.profit-loss.com/?q=node/27282
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