The disastrous entanglement with Archegos Capital Management and its spectacular collapse has left the prime brokerage industry reeling with over $10 billion in losses across the Street. The event has resulted in a major shift in attitudes around risk management, but how far-reaching will these changes be on their reIationships with clients? Asks Joe Parsons.
DMALINK has expanded its ECN with eFX pricing from Nomura to buy-side clients in New York, London and Singapore.
New chief risk officer at the OCC brings over 20 years of experience to the role, after serving in similar positions for both State Street and Nomura.
According to the Coalition Greenwich index, equities revenues reached one of the highest quarterly revenues in a decade excluding losses related to the Archegos scandal.
Despite its involvement, NatWest was not fined as it revealed the cartel, while Bank of America, Natixis and Portigon also evaded penalties.
The launch of the FX pricing engine in Singapore by Nomura comes as part of a regulatory scheme to make the region a trading hub.
Fixed income expert George Goncalves has joined MUFG as its new head of US macro strategy under the firm’s macro trading expansion plans.
Sameer Jain joins Nomura as wholesale chief information officer after nearly 30 years at Barclays and UBS in senior technology focused roles.
A $20 billion stock fire sale shook markets as Bill Hwang’s hedge fund Archegos defaulted on margin calls prompting losses at Credit Suisse and Nomura.