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Banks Keep Tightening FXPB Offering as Risk Profiling Takes Centre Stage
- In one ramification of the CHF crisis, firms operating in the leveraged products space are facing an uphill struggle in their bid to take heed of a bank's PB services, as new emerging players try to fill in the gaps.
Wednesday, 18/03/2015 | 23:35 GMT by
Adil Siddiqui
LMAX Prime Goes Live as Other FXPBs Scale down Their Business
- LMAX Prime launches this week as an opportunity in the FX prime brokerage space has been created with existing players scaling back their businesses following the Swiss franc's 'Black Thursday' in January.
Monday, 16/03/2015 | 15:30 GMT by
Ron Finberg
More Credit Contraction as Citigroup FXPB Closes Accounts
- The SNB crisis is still taking tolls: stating a review of its accounts "in the light of prevailing market conditions and service costs", Citi has confirmed that its FXPB unit has terminated customer accounts.
Monday, 23/02/2015 | 14:59 GMT by
Ron Finberg
Shockwaves of CHF Crisis Impact Foreign Exchange Prime Brokers
- The impact of the Swiss franc crisis is slowly showing its true light as institutional participants reap risks of the major market move. FXPBs have been directly impacted as bank risk parameters are reviewed.
Friday, 23/01/2015 | 21:17 GMT by
Adil Siddiqui
Exclusive: Commerzbank Winding down FXPB Services as It Reallocates Resources
- Commerzbank's FXPB unit gets winded down as the bank aims for 'addition by subtraction' in its Market Services business which includes clearing, custody, collateral solutions, and trade repository services.
Wednesday, 10/12/2014 | 15:18 GMT by
Ron Finberg
Global Head of FXPB Peter Klein Parts Ways With BofA Merrill Lynch
- Bank of America (BofA) Merrill Lynch has a key vacancy to fill, following the departure of Peter Klein, its Global Head of FX Prime Brokerage (FXPB), continuing an industry-wide trend of personnel turmoil.
Wednesday, 17/09/2014 | 00:02 GMT by
Jeff Patterson
More FXPB Industry Turmoil as Peter Klein Exits Global Head of FXPB at BAML Position
- In a continuation of turnover in the foreign exchange prime broker sector, Forex Magnates has learned that Peter Klein is out as Global Head of FXPB at Bank of America Merrill Lynch.
Monday, 15/09/2014 | 22:21 GMT by
Ron Finberg
Exclusive: LMAX Launches LMAX Prime PoP Solution and Hong Kong Operational Office
- Expanding its product offerings, LMAX has launched a new Prime of Prime broker solution called LMAX Prime. The firm has also opened a Hong Kong office to support customers during Asian market hours.
Monday, 01/09/2014 | 11:15 GMT by
Ron Finberg
Velocity Trade’s Ben Brown Reflects on the Changing World of FXPB
- The slow and steady world of FX prime broking was ignited by major changes and overhauls at several providers.
Friday, 01/08/2014 | 09:26 GMT by
Adil Siddiqui
Deutsche Bank Added as Connected Prime Broker to Advanced Markets
- Advanced Markets, has announced today that it now offers FXPB services through Deutsche Bank. The arrangement expands the firm’s credit capacity for customers to designate a primer broker.
Thursday, 19/06/2014 | 18:56 GMT by
Ron Finberg
Exclusive: SEB Puts Brakes on FX Prime Brokerage
- The shake-up in the FX Prime Brokerage sector extends its footprint as Nordic, SEB Merchant Bank, makes changes at the top of its FX Prime Brokerage division & reviews its operations, the bank has halted new applications.
Tuesday, 03/06/2014 | 19:32 GMT by
Adil Siddiqui
Rabobank’s FXPB Exit, $15M in Losses? And the Gaping Hole in the Market
- It’s not often that a prime broker exits the market, but following Rabobank's exit from the FXPB space, it has triggered an avalanche of movement in the industry as former customers secure new relationships.
Tuesday, 03/06/2014 | 10:55 GMT by
Ron Finberg
Rabobank Exiting FX Prime Brokerage, Cites Lack of Complete Fit with Their Business Strategy
- After a tumultuous 2013 which saw Rabobank fined by the CFTC and FCA for their involvement with the LIBOR manipulation scandal and the resignation of its CEO the Dutch bank is exiting the FXPB business.
Wednesday, 14/05/2014 | 17:40 GMT by
Ron Finberg
CFH Clearing Appoints Bank of America Merrill Lynch as New FX Prime Broker
- CFH Clearing has chosen Bank of America Merrill Lynch as its new primary prime broker, the move comes on the back changes at the firm which included rebranding to ensure its business is accurately reflected.
Tuesday, 13/08/2013 | 07:52 GMT by
Adil Siddiqui
Saxo Bank Partners With MarketFactory in Launch of Saxo Prime
Wednesday, 16/01/2013 | 08:59 GMT by
Ron Finberg
BNP Paribas ready to launch its Global Prime Brokerage services
Thursday, 28/07/2011 | 08:53 GMT by
Adil Siddiqui
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