Голдман Сакс Форекс

London reporter Chiara Albanese broke the news that Goldman Sachs Group Inc.’s head of currency dealing plans to leave his position. The departure was part of a wave of resignations, firings and suspensions in recent days that come amid a broader shake-up of the entire foreign-exchange trading industry. Currency market bankers are under intense scrutiny from regulators around the globe who are investigating possible collusion by some traders to manipulate exchange rates.

The story as it appeared on DJX:

Feb. 5, , AM EST – Global Head of FX Trading to Leave Goldman Sachs – Source

AM EST: Global Head of FX Trading to Leave Goldman Sachs – Source

By Chiara Albanese

Steven Cho, a partner and global head of spot and forward foreign exchange trading for major currencies at Goldman Sachs, is set to leave the bank, according to a person familiar with the matter.

Reached over the phone, Mr. Cho declined to comment on his employment status or career plans.

Based in New York, Mr. Cho started his career at Citigroup and joined Goldman Sachs in London in He was promoted to partner in

Mr. Cho is a member of the foreign exchange committee sponsored by the Federal Reserve Bank of New York, according to the group’s website.

His departure comes amid troubled times for the banks that dominate global foreign-exchange trading. Banks have suspended or fired several senior traders in connection with a widespread investigation by regulators into possible manipulation of the currencies markets.

Unlike many of its competitors in the top tier of currencies-dealing banks, Goldman Sachs hasn’t suspended any traders in relation to the probe.

Write to Chiara Albanese at [email protected]

Goldman Sachs FX Trading Services - REDI Trader

Functionality

Customised
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Future plans

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Eurex, the leading European derivatives exchange and part of Deutsche Börse Group, welcomes Goldman Sachs as a new member of its listed FX Futures business. As leading participant in the global FX markets, Goldman Sachs is supporting an essential number of market players seeking to move their FX business to Eurex. This is another major milestone in Eurex’s ambition to build out its listed FX liquidity hub in Europe.

Goldman Sachs is joining the FX business at Eurex both as a trading and clearing member and by offering liquidity for off-book transactions. The ability to maintain a bilateral trading relationship to access OTC liquidity whilst benefiting from a fully cleared FX contract is increasingly identified as a key instrument. This allows market participants to swap OTC trades into exchange-traded and centrally cleared contracts, thus removing uncleared exposure, and optimizing capital allocation.

Jens Quiram, Global Head of FIC Derivatives & Repo Sales, Eurex: &#;We are delighted to see Goldman Sachs offering their global client base access to our listed FX derivatives suite. Goldman Sachs’ engagement both as clearing member and liquidity provider will enable even more clients to benefit from listed FX liquidity at Eurex. This is another major milestone on our way to expand Europe’s leading listed FX liquidity hub.”

Joseph Nehorai, Global Co-Head of Futures, Goldman Sachs: “With block trades and EFPs, we can offer access to OTC liquidity while transacting in a listed instrument. Increasing funding and capital costs evolving in FX markets are leading to a growing appetite to move towards listed FX derivatives. This enables the buy-side community to enjoy the advantages of OTC trading and centrally cleared derivatives.”

Source: Eurex

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions.

Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and links to selected news, blogs and other sources of economic and market information for informational purposes and as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically hereby acknowledges clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided on an "as-is" basis as a general market commentary and does not constitute investment or trading advice, and we do not purport to present the entire relevant or available public information with respect to a specific market or security. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information, or with respect to any of the content presented within its website, nor its editorial choices.

Disclaimer: FOREXLIVE™ may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Finance Magnates CY Limited

WASHINGTON (Reuters) - Goldman Sachs Group Inc

Half the $ million fine will be paid to the Federal Reserve and the rest will go to the New York Department of Financial Services (NYDFS).

"The firm failed to detect and address its traders' use of electronic chatrooms to communicate with competitors about trading positions," the Fed said in a statement.

Goldman Sachs said it was pleased it had resolved the Fed's and the NYDFS' "respective reviews and appreciate their recognition that we have already taken significant steps to enhance our policies and procedures."

Regulators examined investments going back to and involved traders' use of chatrooms as they took positions in the currency market through

As part of the settlement, Goldman agreed to hire a third-party to monitor future trades and meet new compliance standards.

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The names "Goldman Sachs," and "Marquee" are the trademarks or registered trademarks of Goldman Sachs. ©
Goldman Sachs & Co. LLC. All rights reserved. Descriptions of the products and services available through the Marquee platform provided herein are for educational purposes only and do not reflect all information that may be relevant in determining whether use of any such product or service is suitable for your circumstances. Goldman Sachs is not recommending that you take any action based on any information presented herein, which may be updated or modified form time-to-time by Goldman Sachs in its sole discretion without prior notice or subsequent notification. Prior to utilizing product or service available through the Marquee platform, you should read carefully any related disclosure provided by Goldman Sachs, including any information to which you may be required to agree and acknowledge or any user agreements that you may be required to execute, and make an independent determination regarding the suitability of your use of the relevant product or service.

In a pivotal step to expand its foreign exchange (FX) offering in Europe, the derivatives exchange, Eurex tapped Goldman Sachs as a new partner to enhance the European FX liquidity hub. The European exchange said that it is a "major milestone" for its currency business.

Goldman Sachs' Dual FX Role at Eurex

Goldman Sachs is joining Eurex as a member, a clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term member and a liquidity provider for off-book transactions. This dual role enables market participants to maintain bilateral trading relationships while benefiting from fully cleared FX contracts. The arrangement facilitates the conversion of over-the-counter (OTC) trades into exchange-traded and centrally cleared contracts, thereby mitigating risks.

Jens Quiram, the Global Head of FIC Derivatives & Repo Sales at Eurex, commented on Goldman Sachs' involvement in the derivatives exchange's operations. He noted that the financial giant's dual role would allow even more clients to benefit from Eurex's listed FX liquidity.

"This is another major milestone on our way to expand Europe's leading listed FX liquidity hub," Quiram added.

Keep Reading

In addition, Joseph Nehorai, the Global Co-Head of Futures at Goldman Sachs, pointed out that the growing costs in the FX markets are driving a shift toward listed FX derivatives. This shift allows the buy-side community to enjoy the advantages of both OTC trading and centrally cleared derivatives.

The Impact on the European FX Market

This partnership is a significant move for Eurex, which is part of the Deutsche Börse Group and one of the leading central counterparties globally. Goldman Sachs' entry into Eurex's FX business will bring five essential changes to the current European FX market operations.

First of all, it will strengthen the local FX liquidity hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term, offering better pricing and more efficient trades. Secondly, the partnership allows for converting OTC trades into exchange-traded and centrally cleared contracts. This is crucial for risk management, as it eliminates uncleared exposure of OTC trading.

Third, as the FX market evolves, a growing appetite exists for listed FX derivatives. Goldman Sachs' support enables Eurex to effectively meet this demand, offering the advantages of OTC and centrally cleared trading options. Additionally, this collaboration should enhance local market integrity and efficiency by bringing more transparency.

Finally, Goldman Sachs will bring global expertise but also attract a base of potential new market participants and clients.

When the Foreign Exchange Market Is the Most Active?

A recent study by eunic-brussels.eu reveals the timing preferences of traders across different asset classes and experience levels. The data indicates that traders are most active during the opening and closing hours of the trading day. Specifically, 38% of Forex traders favor the first hour to execute most of their trades.

While the preferences for other asset classes are more evenly distributed, the overarching trend suggests that traders, irrespective of their experience, asset type, or geographic location, are most active at the start and close of the trading day. This information is invaluable for brokers and providers of FX/CFD services.

The best and highest probability times to trade forex are

AM EST (London killzone)
AM EST (New York Killzone)

All the opportunities you will ever need will occur during these times

You dont gotta be trading all the fuckin time

Focus

— Trader Mike (@tradermike) May 9,

Understanding when their clients are most likely to trade enables them to send timely alerts about promising trading opportunities, thereby boosting overall trading volume and client retention.

Goldman Sachs, a leading global financial institution, has teamed up with Derivatives Path to launch a joint solution to enable regional and community banks in the United States to access forex payments.

Derivative Path provides capital market technology and derivatives execution services to regional and community banks.

According to a statement released on Thursday by Derivate Path, the partnership will leverage on the global payments network of the Goldman Sachs Transaction Banking (TxB) platform that was launched by the financial giant earlier in April.

Clients of Derivate Path will be able to use DerivateEDGE, the company's software-as-a-service-based capital market platform, to access Goldman Sachs' global payments capabilities.

Keep Reading

DerivativeEDGE also powers forex, over-the-counter commodity and interest rate derivative transactions.

Additionally, Derivative Path in the statement explained that the collaboration will offer an automated digital-first payments solution.

The technology provider noted that this will help financial companies with spot forex and international payments.

“Using TxB's API-based platform, clients of Derivative Path now can provide a more cohesive end-to-end global payment solution to their underlying customers,” the provider explained.

Entry Barrier

Art Brieske, the Global Head of Payments for TxB, noted that regional and community banks can now enjoy a “comprehensive yet simplified and efficient cross-border payment solution."

Pradeep Bhatia, the CEO & Co-Founder of Derivative Path, believes that the launch of the joint solution emphasizes the company’s goal to drive a new wave of innovation for regional and community banks in the US.

"Teaming up with one of the world's largest and most-established financial institutions is a major step in the right direction of bringing greater technology sophistication and flexibility to the regional and community banking sector in the US," Bhatia explained.

Goldman Sachs is a year-old financial powerhouse that provides financial services in investment banking and securities.

Furthermore, it is active in the investment management and consumer banking sub-industries.

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions.

Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and links to selected news, blogs and other sources of economic and market information for informational purposes and as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically hereby acknowledges clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided on an "as-is" basis as a general market commentary and does not constitute investment or trading advice, and we do not purport to present the entire relevant or available public information with respect to a specific market or security. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information, or with respect to any of the content presented within its website, nor its editorial choices.

Disclaimer: FOREXLIVE™ may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Finance Magnates CY Limited