Articles by FX Markets Staff
'Instividual' investors switch on to FX
One area of the foreign exchange market that appears to be continuing on a healthy growth trajectory is retail FX trading, according to research released last week.
Parker FX bounces back
STAMFORD, CT - The Parker FX Index regained lost ground by clocking a 0.24% return during September, as investors' avoidance of emerging market currencies and US banks' hoarding of liquidity caused a continued US dollar appreciation.
UBS posts record Q3 FX revenues
ZURICH - UBS reported record foreign exchange and money markets revenues in the third quarter of this year, reaching $1.3 billion.
Value managers come up trumps in October
LONDON - Currency managers using the value strategy are likely to have fared well in October, a month described as one of the most volatile in history, according to research by the Royal Bank of Scotland.
Forwards spreads start to tighten
LONDON & NEW YORK - Dealers are reporting a retreat in forwards spreads, reflecting marginal improvements in liquidity as Libor eases after weeks of government and central bank action.
Citi's Sherrard relocates to Asia
LONDON & SINGAPORE - Rodney Sherrard, a foreign exchange options trader for Citi in London, is transferring to the bank's Singapore office to work in correlation trading.
Harsh climate suits Aus FX
SYDNEY - Australian foreign exchange dealers expect to continue benefiting from increased deleveraging and client hedging activities seen since September.
South Korea hits back at foreign media
SEOUL - The South Korean government hit back at foreign media last Wednesday (October 29), claiming Korea is better positioned to withstand the global economic crisis now than it was during the 1997 Asian crisis.
Exshaw rejoins Culham, Carrington
TORONTO - Christian Exshaw, formerly global head of foreign exchange sales, EMEA at Merrill Lynch in London, has resurfaced at CIBC World Markets.
Averting the crisis
Nicholas Kwan, regional head of research, Asia, at Standard Chartered in Hong Kong, says Asian countries need to work together to avert the worst effects of the financial crisis
Nomura reports poor H2 results
TOKYO - Nomura's global markets division suffered pre-tax losses of ¥148.3 billion in the bank's half-year results, released last week (October 28).
Strong FX fails to lift CME in Q3
CHICAGO - The Chicago Mercantile Exchange (CME) posted record volumes in foreign exchange products in Q3 but suffered a $28 million loss associated with FXMarketSpace, its joint-venture platform with Thomson Reuters.
Westpac reports rise in FX revenues
SYDNEY - Westpac has reported a rise in foreign exchange and energy revenues amid heightened market volatility.
StanChart revamps e-pricing
SINGAPORE - Standard Chartered has gone live with a liquidity aggregator developed for its foreign exchange electronic pricing and trading division in Singapore.
Investors shun FX-only funds
LONDON - Fund managers are abandoning foreign exchange-only funds in favour of currency overlay programmes, according to research by London-based client strategy firm ClientKnowledge.
The need for speed
Irene Aldridge, quantitative portfolio manager and managing partner at Able Alpha Trading in New York, looks at what defines a good high-frequency system
Deutsche posts strong Q3 for FX
FRANKFURT - Foreign exchange sales helped raise Deutsche Bank's revenues in the third quarter of this year, according to the bank's third-quarter results released October 30.
UBS chops 13 in forex
ZURICH - Stephane Treny, global head of foreign exchange corporate sales for UBS, was one of 13 redundancies from the FX team at the Swiss bank's Zurich office last Tuesday (October 28).
MF Global gets new CEO as Davis quits
NEW YORK - Kevin Davis resigned as chief executive of MF Global on October 29 and has been replaced by Bernard Dan, after a turbulent few months for the institutional broker.
RBS sells e5m note linked to new FX Radar
LONDON - Royal Bank of Scotland (RBS) has sold its first structured product linked to the new FX Radar Index, an automated index linked to 20 emerging market currencies.
Lehman close-out DTCC's largest ever
NEW YORK - The Depository Trust & Clearing Corporation (DTCC), which provides post-trade clearing and settlement services in the US capital markets, has completed the largest close-out in its history, clearing more than $500 billion of market…
FX chiefs made partners at Goldman Sachs
LONDON - Kevin Connors and Paddy Boyle, London-based members of Goldman Sachs' foreign exchange division, were made partners in the biennial induction of new members to the partnership pool last Wednesday (October 29).