Articles by FX Markets Staff
Three into one for GFI
LONDON – GFI Group is bringing together staff split between three locations in London to a single site in Broadgate West.
Yuan for the money
With the growing importance of the Chinese market, James Malcolm, senior currency strategist at Deutsche Bank in Singapore, suggests range-trading USD/CNY NDFs from the short side, to capture gains
Barclays offers Chinese research
HONG KONG – Barclays Capital is launching its FX weekly research in traditional and simplified Chinese for the Hong Kong, Taiwan and mainland Chinese investor base.
Hong Kong set for retail yuan NDF contracts
HONG KONG – Authorities in the Special Administrative Region are to follow China's lead in making renminbi non-deliverable forwards (RMB NDFs) available for trading next month.
Oanda boosted by $17m stake from Index Venture
LONDON AND GENEVA – Venture capital firm Index Venture has bought a $17 million stake in global currency trading firm, Oanda.
Ex-NAB traders to stand trial
MELBOURNE – Vincent Ficarra and Gianni Gray, two former National Australia Bank (NAB) forex options traders, are to stand trial for their part in the A$360 million rogue trading scandal uncovered by the bank last year.
Wall Street adopts Solaris
LONDON– Version 4.1 of Wall Street System's (WSS) treasury and capital markets system for FX and other asset classes now supports Sun Microsystems' Solaris 10 Operating System (OS). It runs on SPARC processor-based Sun systems.
BCV signs up to 360T
LAUSANNE – Banque Cantonale Vaudoise (BCV) has signed as a liquidity provider to German multibank portal 360T.
Forex hits the wild east
ALMATY – The rapid expansion of the emerging market economies is forcing the development of local currency derivatives markets.
GFT adds DealBook features
ADA, MICHIGAN – Global Forex Trading (GFT), a provider of real-time currency dealing, pricing and services to forex traders, has added new features to its DealBook FX 2 offering.
Merrill adds FX to rates desk
NEW YORK – Harry Lengsfield, global head of rates at Merrill Lynch in New York, has expanded his responsibilities to include FX. He takes on the extended title of managing director and head of global rates and FX, global markets and investment banking.
Energy costs and hurricane Katrina hit currency funds
STAMFORD – Currency fund managers took a hit in August against a backdrop of high energy prices and the costly destruction caused by hurricane Katrina.
Taiwan allows yuan trading
TAIPEI – The Taiwanese authorities have for the first time granted permission to its citizens to buy renminbi in a sign of thawing economic relations between Taiwan and China.
SG expands electronic business
PARIS – Société Générale (SG) is to make further enhancements to its platform, SGFXtrade, as it looks to rapidly expand its geographical range between now and early next year.
UBS reaps distribution rewards
STAMFORD – UBS is seeing strong take-up for dual currency deposits (DCDs) by US retail clients after launching the product for the US market earlier this year.
China stirs the pot
Daniel Katzive, UBS currency analyst in Stamford, looks at the implications of China's decision to widen the band on the yuan peg
When is it appropriate to use average rate options?
Corporates can fall into the trap of using average rate options as a cheaper alternative to European options. Jeff Cooper (right), vice-president, foreign exchange, Bank of Montreal in Toronto, clarifies the misconception
Hotspot FXi adds Singapore dollar trading
SINGAPORE – Electronic trading platform Hotspot FXi has today launched trading in Singapore dollars to meet growing demand from clients.
GFI and Traiana offer processing boost for forex options trading
NEW YORK and LONDON – FX options trading is to get a boost, with broker GFI and technology vendor Traiana both launching automated processing services in the market.
Central banks increase FX holdings
BEIJING AND WASHINGTON DC – A Chinese official last week highlighted the possibility of a significant move out of US dollar reserves, as the latest IMF figures show central banks have continued to hold faith in the greenback.
ABN Amro chooses Singapore for currency futures base
SINGAPORE – Dutch Bank ABN Amro has restructured its regional futures business, and is moving staff from its Sydney office to operate out of a single office in Singapore.
Calypso signs Rabobank – and adds four staff
SAN FRANCISCO AND UTRECHT – Rabobank has gone live on vendor Calypso Technology, and is now using it for its forex processing, the vendor has announced.