Exclusive: Peter Plester Rabobank Head of PB departing to Join Saxo's Prime Brokerage

Exclusive: Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates has learned from confirmed sources that Peter Plester, Head of Prime Brokerage at Rabobank International, will be joining Saxo Bank's Prime Brokerage division, thus making for a senior executive move in the Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term industry that we are reporting.

According to information on a LinkedIn profile for Mr. Plester, he was based out of London, where he headed Rabobank International's Prime Brokerage, a position that he arrived in nearly a decade ago, and with prior experience culminating a 23 year career (until the present) in Foreign Exchange market.

For Saxo the news, as reported by Forex Magnates, follows just a day after the Danish bank added a new USDCNH option, aimed to strengthen its already robust FX Options product range.

Competition in the Prime Brokerage space has escalated in recent years as new emerging prime of prime providers aim to bring a more diverse offering to prospective brokerages.

Forex Magnates is days away from releasing its Quarterly Industry Report (QIR) for the first quarter of 2014, which will contain extensive research and data, and insights into critical developments effecting market participants. This report will be available for purchase.