Articles by FX Markets Staff
Retail FX benefits as traders go DIY
LONDON - The retail foreign exchange revolution could benefit from reduced headcounts within the financial services industry, according to Mark Davison, vice-president of pro-sales at Forex Capital Markets (FXCM).
'Veneer of homogeneity' hides cross-asset minefield
LONDON - Cross-asset electronic trading is still underdeveloped, according to Jeremy Smart, global head of electronic foreign exchange sales at Morgan Stanley.
Unicredit hires two new FX heads
LONDON - Unicredit has bolstered its foreign exchange team in London with the hires of Peter Jerrom and Will Vogel, both from Lehman Brothers.
Algos 'point inwards' amid low liquidity
LONDON - There will be greater internalisation of flow as banks search for liquidity, according to a panel discussing algorithmic trading developments at last week's FX Week Europe Congress.
Forex contends with great expectations
The foreign exchange industry is set for a shake-out next year as re-pricing of risk forces change in the make-up of the industry.
Fisher: FX will slow down to assess risk
LONDON - Activity in the foreign exchange market will "pull back" over the next couple of years, while risk management will become a key focus for the industry, according to Paul Fisher, London-based head of the FX and reserves management division at the…
Trouble ahead in emerging EMEA
Nick Chamie , head of emerging markets research at RBC Capital Markets in Toronto, analyses the results of the bank's latest Financial Risk Scorecard, and finds there are tough times ahead for the Baltic states
Bloomberg Tradebook back on track
NEW YORK - Bloomberg Tradebook is this week re-launching its foreign exchange electronic communications network after suffering up to eight weeks of outage as it sought to replace AIG as its central clearer.
Banks plan to up tech spend
LONDON - Fifty percent of banks plan to spend more on technology next year than this year, according to a poll of bank delegates at the FX Week Europe Congress in London last week.
Market risk brings client relationships to the fore
LONDON - Relationship pricing has become key for banks, reflecting the increase in market risk, according to panellists at last week's FX Week Europe Congress in London.
Industry pushes to expand CLS coverage
LONDON - Panellists at the FX Week Europe Congress held in London last week applauded CLS for its role in alleviating settlement risk, but pushed for expansion to cover more counterparties, currencies and products.
More crisis casualties
LONDON - Morgan Stanley, Citi and Deutsche Bank have all announced thousands of global job cuts in response to the market dislocation, with foreign exchange teams unavoidably in the firing line.
BNP responds to unwinding carry with two new indexes
LONDON - BNP Paribas has released two indexes that it says will help clients profit from carry trades, even when traditional strategies are unwinding.
Korean banks share info on FX derivatives
SEOUL - South Korea's markets regulator, in conjunction with the country's leading banking association, has set up a database that allows banks to share information on the use of financial products by their clients, including exporters.
Cable: we've been here before
Peter Luxton, global economic adviser at Informa Global Markets in London, looks at how cable is faring during this economic crisis, and finds it is following a similar pattern to cable during the 1992-93 slump
Top banks take DealHub analyser
NEW YORK - Two Tier I banks have adopted Option Computers' DealHub Conversation Analyser module for foreign exchange options, to extract FX options and spot hedge ticket details from Reuters Dealing 3000 conversations.
Chicago's wind of change
Felix Shipkevich, general counsel at CMS Forex in New York, highlights the difficulties of applying similar regulations to retail foreign exchange and the exchange-based commodities and futures markets
HSBC reports strong EM FX results
LONDON & MONTREAL - HSBC's global banking and markets division has achieved a rise in third-quarter revenues, fuelled by growth in emerging markets foreign exchange.
OTC derivatives on the up
BASEL - The Bank for International Settlements' (BIS) semi-annual report has shown a significant increase in the growth of over-the-counter foreign exchange derivatives in the first half of this year.
Citic Group in currency bail-out
HONG KONG - Citic Pacific has reached an agreement with parent company Citic Group to provide financial support to meet liabilities from exposure to leveraged FX contracts disclosed on October 20.
Credit Suisse advances in Asia forex
HONG KONG & SYDNEY - Credit Suisse released its advanced execution service (AES) for foreign exchange in Asia last month, following the system's US and European rollout earlier this year.
Changes afoot for FX prime brokers
Discussions with dealers in recent weeks have identified significant changes for the industry in the coming year, in terms of pricing and infrastructure.