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The management structure of its FX trading area will be little changed at RBS following its takeover of ABN Amro. Roger Hawes remains global head, with the same three line managers – Chris Peters in Europe, Peter Gorra in North America and Chris de la Hoyde in Asia. The only real changes are the relocation of the bank’s Asian hub from Hong Kong to Singapore and the move of algo trading, which will be managed by John Williams, to Hawes’ overall control.

The closed-end fund world is shrinking at a time when the industry faces problems financing debt and launches have virtually ground to a halt.

Institutional investors are beginning to play the de-coupling of inflation rates in emerging and established markets.

Exchange-traded fund industry officials disagree over the future of ETF fees. While some believe that better performance and sophisticated strategies will justify higher expenses, others want to see ETFs maintain their lost-cost position.

Compliance officers at mutual fund firms are introducing tighter controls for staff who conduct personal trades in exchange-traded funds, or ETFs.

Add your own comments, and read the views of: Mark Snyder, global head of sales & trading, State Street Global Markets; Richard Leighton, global head of FX, Standard Chartered Bank; Richie Prager, head of global rates, currencies and commodities for Bank of America; Serge Topolanski, deputy head of flow business, Société Générale; Zar Amrolia, managing director, global finance and FX, Deutsche Bank; Dan O'Sullivan, head of global foreign exchange trading, UniCredit Markets & Investment Banking; Gerhard Seebacher, head of rates and currencies for Bank of America, Bank of America; Alain Delelis, head of FX in the Americas at Credit Suisse; Lars Hakanson, global head of foreign exchange, Société Générale; Eddie Listorti, head of FICC for Dresdner Kleinwort; Fabian Shey & Reto Stadelmann, global co-heads of FX exchange & money markets, UBS; Jeff Feig, global head of G10 FX Citibank; Andrew Brown, global head of FX at HSBC; Ivan Ritossa, head of global markets – trading, Asia Pacific, and global head of FX and prime services at Barclays Capital.

The world is starting to resemble a spinning top: one week the markets soar, the next they sink. Even mighty masters of the universe are confused: hedge funds and banks had a dire month in March.

Three dangers: credit crisis, recession and inflation. Only the first is being dealt with, and then essentially only in terms of liquidity. Expect a “U”-shaped recession with a long base.

Having seen the volume rankings, I can tell you that there are a few surprises.

Without giving too much away, I can say that this year’s Euromoney FX Poll is...

Last weekend’s G7 meeting has apparently been followed by widespread euro/dollar selling.

A piece of academic research from Cambridge University, which examined the hormone levels of a group of male traders, garnered a lot of media coverage this week.