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  • Senior manager Maria Guterman
  • This week I received an email informing me of a “revolutionary settlement solution” – an email that had already been published elsewhere. Normally that would signal the end of my interest – after all, old news is stale news. But the clever marketing hooked me.
  • Good luck to my old mucker Dave Eells, head of international bank sales at ODL Securities in London, who is in his final preparation for a 175-mile walk in aid of charity. Eellsy is taking two weeks of unpaid leave to raise money for Demelza House, a hospice that provides care and support for terminally ill children and their families. More information is available at http://www.justgiving.com/davideells.
  • Turnover at the CME averaged a record 13.7 million contracts per day in the first quarter, an increase of 32% on the same period in 2007. Its FX suite averaged 640,000 contracts (a nominal $87 billion), an increase of 15% on 2007.
  • So far, the credit crunch appears not have impacted on volumes in FX – whether or not that will change remains to be seen, but the pull-back of liquidity would suggest that volumes have the potential to drop off.
  • Scott Freeman has left his role as head of e-commerce for GFX at Bank of America. His role has been divided up between Chris Vogel, who manages trading, while client strategies are now under Stephen Godfrey (US) and Marco Pelizzoli (international).
  • Retail trading specialist Gain Capital Holdings has appointed Henry Lyons as its chief financial officer. This is a new role at the company and Lyons will report to Glenn Stevens, Gain’s chief executive. In addition, Lyons will become a standing member of the company’s executive management team. As CFO, he will be responsible for financial accounting and reporting, strategic business planning and forecasting, corporate development and investor relations activities for Gain and its subsidiaries.
  • Tom Roche has quit his role as managing director, global head of e-commerce and retail products group, at Standard Chartered and is believed to be off to a headhunting company in which he has an equity stake. Recruitment sources wonder if there isn’t a touch of ‘gamekeeper turned poacher’ about it.
  • Russell Francis has been promoted to head of corporate FX sales to Fortune 500 clients at Citi NY. He replaces Deb Connelly, who has apparently returned to Australia.
  • Martina Doherty, director of corporate marketing at FXall, has been lured back to Dublin to join market newcomers Squared Financial Services. The experienced Doherty, who spent five years at Dresdner before joining FXall, will start her new role on April 14. Until then, she remains plugging away at FXall (Groan – Sub-ed.) .
  • Perhaps signalling its intention to become more than a niche player, ICE Futures US has hired the extremely experienced Ray McKenzie as vice-president, responsible for marketing its Russell Index, soft commodity and currency products.
  • RBC Capital Markets is building a European leveraged finance team.