BNY Mellon has expanded its European FX spot trading desk with the appointment of a buy-side trader as a senior principal trader within the team.
Darren Dempsey joined BNY Mellon on 18 May in London after more than five years with Stone Milliner Asset Management working as a trader on the fund’s multi-asset principal execution desk.
As senior principal trader at BNY Mellon, Dempsey will be responsible for trading G10 spot across Europe, the Middle East and Africa (EMEA), with a focus on improving spot services for clients. He reports to Dan Madeira, head of spot and e-trading EMEA, and Jeff Leal, global head of spot and FX electronic markets at BNY Mellon.
Prior to his time as a buy-side trader at Stone Milliner Asset Management, Dempsey held various principal trading roles in spot and forwards for both G10 and emerging markets at Nomura, Barclays and Lehman Brothers.
Earlier this month, BNY Mellon confirmed it will build a pricing and trading engine for foreign exchange in Singapore, as part of an initiative with the nation’s markets regulator. The bank will establish a low-latency electronic FX infrastructure in Singapore providing clients with improved execution quality and price discovery.
The Monetary Authority of Singapore is working with several large investment banks to launch trading platforms in Singapore as part of plans to make the region a global FX price discovery and liquidity hub during Asian trading hours.