Articles by FX Markets Staff
Shake-up at Credit Suisse continues
NEW YORK & LONDON – Credit Suisse's sales head has left the bank, continuing a shake-up that started when Gael de Boissard, co-head of fixed income, took over FX responsibility, according to bank sources.
Yen and RMB undervalued, finds survey
LONDON – The majority of fund managers believe the yen is undervalued based on current fundamentals, according to research by US investment bank Merrill Lynch.
China is not the only egg in the basket
Reuters' deal with Union Bank of India demonstrates that there is a wealth of opportunity in the sub-continent for banks looking to drive forex returns in emerging markets.
Questionable benefits of prime brokerage
The changes at Royal Bank of Scotland, which is merging its FX prime brokerage and futures businesses, reflect structural problems in the wider market.
Second NAB trader jailed
MELBOURNE – Gianni Gray, former currency options trader at National Australia Bank (NAB), has been sentenced to 16 months imprisonment for his part in the bank's rogue trading scandal discovered in 2004.
Reuters to calculate official spot rate
HONG KONG – Reuters is to be the official exclusive calculator and distributor of the benchmark spot US dollar/Hong Kong dollar fixing rate. This new official spot USD/HKD fixing is owned and administrated by Treasury Markets Association (TMA) in Hong…
Defrosting the myths
The risk of an Icelandic crisis and its impact on other high-yielding currencies has been strongly exaggerated, says Beat Siegenthaler, senior strategist at TD Securities in London
RBS realigns prime brokerage ge
LONDON – Michelle Wong, global head of prime brokerage at Royal Bank of Scotland (RBS) in London, is to leave following a realignment of its prime brokerage (PB) business.
HSBC closes NY prop desk, reorgs management
LONDON – HSBC has closed its prop desk in New York and made a number of changes to its senior management line-up, following the promotion of Andrew Brown to global head of foreign exchange.
Knight Capital completes HotspotFXi acquisition
JERSEY CITY, NJ – Knight Capital Group last week completed the acquisition of Hotspot FX in an all-cash deal for $77.5 million.
Barclays set to start forex algo trading
LONDON – Barclays Capital is looking at ways to bring algorithmic trading to businesses within the futures, FX and fixed-income sectors, according to Amy Nauiokas, Barclays' former head of global e-commerce. Nauiokas has been promoted to head of Barclays…
eSpeed offers wireless trading and market data
NEW YORK – Electronic trading system eSpeed has launched a wireless market data and trading solution for institutional trading of FX and US Treasury bond issues via the Microsoft Windows Mobile 5.0 platform.
COESfx enhances online platform
PLAINVIEW, NEW YORK – Electronic communication network (ECN) COESfx has enhanced its platform by adding expanded trading features and a streaming news feed for its retail and institutional investors.
Fund launch from Russell
DUBLIN – Russell Investment Group has launched a multi-manager currency fund to offer investors a way of diversifying their portfolios.
Three banks sign up to digitec's D-3
HAMBURG – Three major international banks have gone live with D-3 System, an FX and money market pricing engine from Hamburg-based software vendor, digitec.
A changing regime
Low-yielding currencies are set to make a comeback, writes Teis Knuthsen, head of FX and fixed-income research at Danske Bank in Copenhagen
CME breaks into China and Israel
BEIJING – China Foreign Exchange Trade System (Cfets), China's interbank FX market, last week signed a multi-year deal with the Chicago Mercantile Exchange (CME). Under the agreement, Chinese financial institutions and investors will gain access to…
JP Morgan hit by sales departures
NEW YORK & LONDON – JP Morgan's FX sales operation has been hit by a number of departures including a number of defections to Merrill Lynch.
ABN Amro restructure continues
LONDON – ABN Amro has continued restructuring its FX operations, making another senior management change.
EBS sets new quarterly record
LONDON – Trading platform and technology provider, EBS set a new record for spot FX trading volumes on the EBS Spot system in the first quarter of this year.
Standard Chartered builds in sales
DUBAI & NEW YORK – Standard Chartered has boosted its global FX sales capabilities by making a senior appointment in the Middle East and a new addition in New York.
Currency managers down in March
LONDON – Most currency funds had a tough time generating positive returns last month, indicates research from ABN Amro.
JP Morgan hit by sales departures
NEW YORK & LONDON – JP Morgan's FX sales operation has been hit by a number of departures including a number of defections to Merrill Lynch.