Articles by FX Markets Staff
Icap gains foothold in China
BEIJING - Icap has cast a wider net into the Chinese foreign exchange market by forming a strategic partnership with the country's largest data and information vendor, Xinhua News Agency.
The Bank of Korea offers competitive option swap facility
SEOUL - The Bank of Korea (BoK) is introducing a competitive auction swap facility today (October 20), to ease the recent foreign currency funding strains in the market.
Credit Suisse launches currency basket options
LONDON - Credit Suisse has introduced currency basket options on Merlin, its proprietary electronic foreign exchange structured products trading platform, in response to client demand.
Wall St Systems launches ESN
LONDON & PARIS - Wall Street Systems is in discussion with a Tier II and two Tier III US banks for use of its pay-as-you-go post-trade processing utility, Electronic Settlement Network (ESN).
Mixed forecast for FX
LONDON - Foreign exchange teams will avoid the worst of the job cuts in the City of London, although market sources warn no-one will be immune from redundancies.
Central bank turns broker
ISTANBUL - The Central Bank of the Republic of Turkey (CBRT) has stepped in to broker interbank foreign exchange trades, in a bid to quell fears over counterparty risk in the local FX market.
Futures broker RCG buys MG Financial
CHICAGO & NEW YORK - Rosenthal Collins Group (RCG) completed the acquisition of online foreign exchange trading company MG Financial on October 15.
Hotspot FX hires Asia sales head
SINGAPORE - Hotspot FX has appointed Trent Beacroft as head of Asia sales in Singapore.
SWF assets reach $3.8trn
LONDON - Assets under management by global sovereign wealth funds (SWFs) are set to reach $10 trillion by 2015, according to a new report by International Financial Services London (IFSL), a private sector industry body.
Currencies shine in Q3
NEW YORK - Record levels of volatility are ensuring rates and currency businesses continue to be the shining lights, as evident in third-quarter fixed-income results released by dealers last week.
BarCap picks Caplin for rates
LONDON - Barclays Capital has signed a contract to purchase web-based application Caplin Trader for its fixed-income electronic commerce system.
Swissie set to replace greenback in Russia
Igor Suzdaltsev, head of financial institutions at OTP Bank (Russia) in Moscow, explains why he believes Russia will switch affections from the US dollar to the Swiss franc
The confusion over central clearing
Over the past month, the concept of central counterparty (CCP) clearing has taken centre stage, as concerns over counterparty risk consume the market in the aftermath of the collapse of Lehman Brothers in September.
Ex-Lehman UK staff find new FX roles
LONDON - Deutsche Bank, Credit Suisse, Standard Chartered and JP Morgan have all moved to make further hires from Lehman Brothers' former foreign exchange team.
BoNY signs up to GFI's Fenics FX
NEW YORK - Bank of New York Mellon has signed a three-year licence for GFI Fenics FX, a pricing and risk management software system.
FXMPG tackles FX practices
BRUSSELS - The Foreign Exchange Market Practice Group (FXMPG) plans to hold its first meeting in January, to begin establishing global market practice for foreign exchange activities.
Icap expands European coverage with Equinix
LONDON - Icap has extended a deal with datacenter provider Equinix to give European clients access to low-latency data from Icap's EBS spot foreign exchange trading platform.
ICE launches FX futures
ATLANTA - The Intercontinental-Exchange (ICE) is launching ICE Millions, a suite of foreign exchange futures contracts, on November 6, in the latest move by an exchange to capitalise on fears over counterparty credit risk.
Caplin Systems a star onboarder
LONDON - Caplin Systems, a London-based web technology vendor, has signed two major European banks to its multi-asset trading platform, Caplin Trader.
$80bn bail-out likely in Asia
SEOUL - A group of Asian nations might be moving closer to creating a pool of rescue funds worth more than $80 billion, in a bid to resolve the short-term liquidity shortages plaguing the region, say analysts.
BNP and Deutsche give homes to Lehman staff
LONDON - Not all Lehman Brothers' refugees have ended up at Nomura - BNP Paribas and Deutsche Bank have also stepped in to make hires.
RealStream Margin revamped
LONDON - Cognotec is set to roll out the latest version of its web-based margin trading system, RealStream Margin 3.0, in response to market demand for efficiency and enhanced risk management products.