Middle East & Africa

Istanbul strengthens London ties with LCH stake

Turkish stock exchange Borsa Istanbul has acquired the London Metals Exchange’s stake in pan-European clearing house LCH.Clearnet, a move that could strengthen its ties with London Stock Exchange Group.

Ex-BarCap boss Cooney swoops for Goldman MD

A former managing director at Goldman Sachs is to join the foreign exchange trading business founded by BarCap’s former e-FX trading boss, David Cooney.

Bank of America's trading income down 20% in Q4

Bank of America’s Global Markets division saw sales and trading income fall by a fifth in the fourth quarter of 2014, according to results today, excluding accounting adjustments.

JP Morgan sees Fixed Income revenue drop 23%

JP Morgan saw revenue from its fixed income markets operation plummet by 23% in the fourth quarter of 2014, compared to Q4 2013 because of lower income from credit and securitised products and the sale of two business units.

Citi parts with head of EMEA execution

Citi’s head of EMEA execution sales (electronic trading) has left the group after five and a half years, The TRADE understands.

JSE implements second phase of T+3 move

The Johannesburg Stock Exchange (JSE) has completed the second phase of its T+3 project, a move that will see the settlement cycle for South African equities cut by two days.