Articles by FX Markets Staff
Refco exodus begins
LONDON - US brokerage firm Refco has seen the first known departures in the wake of the scandal that rocked financial markets last month.
UBS bags post trade gong
UBS TOOK THE TOP SPOT for the newly created post trade services category. The Swiss bank said that service following completion of trades is becoming increasingly important in a market where margins are ever tighter and it is harder than ever to…
HSBC breaks into top three
LONDON - UBS has held on to the top spot to be named FX Week Bank of the year for the third year in a row. But the biggest upset sees HSBC break into the top three at Citigroup's expense.
Renminbi NDFs launch in Hong Kong
HONG KONG – Retail renminbi non-deliverable forwards contracts went live last week after the Treasury Markets Forum (TMF) of Hong Kong got the nod from the original seven member banks.
Gaitame chooses Internap
TOKYO – Gaitame, an FX broker in Japan, has picked internet services firm Internap Network Services to speed up connectivity for its clients.
CLS builds up fund presence
NEW YORK – The fund management community are warming up to CLS, with a growing number of funds settling payment instructions over the system.
Deutsche Bank FX desk signs up to Iokio data navigation service
LONDON – Deutsche Bank's FX sales desk has signed up to a new data navigation service from Iokio.
Wanted: structurers who can sell
LONDON – FX structurers who can sell FX products to clients are increasing in demand, yet the dearth of available talent in this space will remain into next year, say market participants.
Icap goes with Kalahari
SYDNEY – Interdealer broker Icap has gone live with UK-based vendor Kalahari's Australian dollar interest-rate derivatives pricing tool.
A towering rate of return
Sara Sullivan, head of currency solutions at ANZ Investment Bank in London, presents a way of enhancing returns on deposits by taking a view on exchange rates
Future for Refco's FX clients still unclear
NEW YORK & LONDON – Hedge fund firm Man Group won an auction for the futures business of the stricken Refco last Thursday (November 10), but the fate of institutional FX clients hangs in the balance.
Is the post-Plaza Accord era over?
Toru Umemoto, FX strategist at Barclays Capital in Tokyo looks at views for and against ditching the accord
National Australia Bank FX back in the black after trading scandal
MELBOURNE – National Australia Bank's FX business is showing signs of recovery nearly two years after the A$360 million forex options trading scandal was unearthed.
Brokers pulled into NAB scandal
MELBOURNE – National Australia Bank NAB) is demanding more than A$539 million ($394 million) in compensation from interdealer broker Icap and another unnamed broker for losses the bank incurred following last year's rogue-trading scandal.
ING boosts FX research with senior strategy hire
LONDON – ING Bank's financial markets division has enhanced its FX research offering with a senior hire.
Commerzbank builds sales desk
FRANKFURT – Commerzbank is looking to boost its distribution in Europe with the hire of a new head of sales in Frankfurt.
Further liberalisation of yuan trade by Hong Kong and China
HONG KONG – Further flexibility in China’s currency regime is to be introduced, with details being given last week of liberalisation of trade with the Special Administrative Region.
EBS hits the pause button
LONDON – EBS has stopped new customers going live on its platforms until early December as it faces a surge in demand for its services.
SG CIB to white-label FX portal
LONDON – SG CIB is looking to boost the use of its single-bank portal with a series of white-label arrangements with banks it owns.
A strategy for yen appreciation
With faster economic growth, yen appreciation will happen. It is just a matter of timing, says Trevor Williams, chief economist at Lloyds TSB Financial Markets in London
Chaos and depreciation as Zimbabweforex trading system introduced
HARARE – The introduction of a more liberal and transparent forex market in Zimbabwe saw a three-fold drop in the value of the country’s currency and suspension of trading.