Articles by FX Markets Staff
ACI Congress programme unveiled
STOCKHOLM – The line-up for the ACI World Congress, to be held on 26–28 May in the Swedish capital, has been finalised.
All change for CLS management
LONDON and NEW YORK – CLS has announced a shake-up of its senior management and the forthcoming departure of chief executive Joseph De Feo.
IFX launches forex fund
LONDON – IFX Capital Management, a division of IFX Markets, will launch the Zenith Currency Fund this week.
Icap and CST settle dispute out of court
HONG KONG – Interdealer brokers Icap and Collin Stewart Tullett (CST) have settled a legal dispute over the defection of 25 staff from CST to Icap, confirmed a CST spokesperson.
GFI expands Fenics with bank volatilities
NEW YORK – Interdealer broker GFI is expanding the coverage of its Fenics pricing and risk tool to include volatility surfaces – the methods by which options are priced – from bank clients.
RBS launches online FX trading service
EDINBURGH – The Royal Bank of Scotland has launched Trade, an online trading service for forex, money markets and global treasury funds.
ABN Amro launches e/$ indicator
LONDON – ABN Amro has launched FX Regime Prediction Indicator, a model indicating how euro/dollar is likely to trend, or whether it will be subject to movements within a trading range.
NAB revamping and re-opening foreign exchange options desk
MELBOURNE – National Australia Bank (NAB) will reopen its FX options desk on May 9, following its closure after last year's trading scandal ( FX Week , January 19, 2004).
Activity set to soar in Romanian leu
BUCHAREST – Interest in trading the Romanian leu is picking up, as the country opens to foreign investment and gears up for entry into the European Union.
Senior changes at TD Securities
TORONTO & LONDON – TD Securities' foreign exchange team has undergone a major change at senior level, following the departure of Cliff Feehan, global head of wholesale forex at the Canadian bank in Toronto.
India becomes latest CLS addition
MUMBAI – Indian FX settlement service the Clearing Corporation of India (CCIL) has gone live on CLS.
Alstom picks FXpress
PARIS – Alstom, the Parisian technology vendor, has gone live with risk management software provider FXpress's First treasury workstation.
Diverging views over renminbi
BEIJING – Banks have divergent views on the likely size, extent and timing of a revaluation of the Chinese renminbi (CNY).
Capping downsides, tapping upsides
Jeffery Todd Lins (right), director of quantative analysis, and Peter Ager Hafez, senior research associate, at Saxo Bank, suggest a mechanism to cap the downside risk while allowing for upside potential in the absence of options on a currency fund
US banks' FX profits surge
NEW YORK – US banks have benefited from the recent recovery in the greenback, with profits up in the first quarter.
Risk appetite and FX positioning
Richard Franulovich, currency analyst for Westpac in New York, says weaker US data is likely to lead to a weaker dollar
DrKW rebuilds FX team
LONDON – Dresdner Kleinwort Wasserstein (DrKW) continues to rebuild in forex following a series of departures at the bank last December.
CME-Reuters service picks up
CHICAGO & LONDON – The Chicago Mercantile Exchange (CME) and Reuters added four new clearing firms to its 'CME FX on Reuters' service last week.
Hotspot FXi opens in Beijing
BEIJING – Electronic trading marketplace Hotspot FXi has opened an office in Beijing to support its activities in mainland China, Hong Kong and Taiwan.
Further changes at Bank of America
SINGAPORE – Ramanathan Madhavan Muckai, senior strategist, focusing on macro-economics, is the third departure from Bank of America's (BoA) currency strategy team in Singapore.