Nick Burgin is stepping down as global head of foreign exchange trading at Goldman Sachs. He will be replaced at the end of the month by Guy Saidenberg. BNY Mellon becomes a partner with Credit Suisse and FXCM in the FastMatch ECN. MarkitSERV, Misys integrate technologies to get trade details to all central clearing counterparties. DTCC expects foreign exchange dealers to meet a February 28 deadline to begin reporting details of trades into its data repository.
GOLDMAN SACHS: Nick Burgin is stepping down as global head of foreign exchange trading. He will be replaced at the end of the month by Guy Saidenberg.
Saidenberg will keep his current role as head of trading in European, Middle East and Asian emerging markets, as well.
Burgin is retiring, after 16 years at Goldman. He started in 1996 on Goldman’s FX Options Trading desk in New York. He has held stints as become head of Tokyo FX Trading, global head of FX Options Trading and global chief operating officer of G10 Foreign Exchange Trading.
He took on his current post in 2011. He was named managing director in 2002, a partner in 2006 and is a member of the Firmwide Risk Committee.
Saidenberg joined Goldman Sachs in 1999 as an associate on the Interest Rate Products Trading desk in London, according to an internal memo on his promotion. He became head of European Equity Exotics Trading in 2002, then moved to to Tokyo in 2005 to become head of Asia Structured Products Trading. In 2008, he returned to London to assume his current role.
He is a member of the Firmwide New Activity Committee, Structured Products Committee, Bank Capital Committee, Growth Markets Operating Committee and Sovereign Risk Committee. He was named a managing director in 2005 and a partner in 2006.
BNY MELLON: Foreign exchange traders in its Global Markets group can now send orders to the FastMatch electronic communication network (ECN), which is based on technology that underpins Credit Suisse’s Crossfinder dark pool.
BNY Mellon also will take a stake in FastMatch which has been owned by Credit Suisse and FXCM Inc.
“Giving our traders and customers access to FastMatch’s ECN capabilities will provide additional alternatives to source liquidity by accessing larger pools of buy/sell opportunity, as well as faster execution,” said Craig Messinger , executive vice president and global head of trading and risk management for BNY Mellon Global Markets, in announcing the move.
BNY Mellon operates foreign exchange sales and trading desks in New York, Boston, Pittsburgh, London, Brussels, Hong Kong, Tokyo, Taipei, Seoul and Shanghai.
MARKITSERV, MISYS : MarkitSERV, which provides trade processing services, and Misys, a banking software firm, said they are working together on technology to deliver details of foreign exchange derivative trades to central clearing counterparties.
The technology will integrate the Misys Confirmation Matching Service with MarkitSERV’s FX clearing gateway.
That will provide a “single point of access” to central clearing houses used by executing brokers, clearing brokers, trading venues and buyside firms.
The Misys confirmation service is used by more than 1,000 banks, brokers, fund managers and corporate treasurers.
DTCC: The Depository Trust and Clearing Corporation said it expects foreign exchange dealer to meet a February 28 deadline to begin reporting details of trades into the data repository it launched in January.
The deadline set by the Commodity Futures Trading Commission had been January 10, but banks got an extension after testing was disrupted by Hurricane Sandy last October.
Dealers will have 30 more days to load historical data. That data will go back as far as July 2010, when the Dodd-Frank Wall Street Reform Act was signed into law.
