Articles by FX Markets Staff
MMS enhances fixed-income service
LONDON -- FX and fixed-income research and analysis firm MMS International extended its technical analysis coverage of money market futures last week.
Firms line up to join FX standards group
LONDON -- The Treasury Workstation Integration Standards Team (Twist), an industry initiative set up to standardise integration between all FX systems, has doubled its membership to more than 50 firms in the past four months.
ABN realigns risk advisory
LONDON -- ABN Amro has incorporated its FX analytics and risk advisory group into a new cross-product advisory service, the bank announced last week.
HSBC takes Reuters for white-labelling
LONDON -- HSBC Group has chosen Reuters to develop a white-label FX trading platform the bank will then white-label to client banks and corporates.
BarCap expands options
LONDON -- Barclays Capital has hired two in FX options and two in FX structuring to join the bank in London this quarter. Three of the new dealers come from Citigroup.
Trading practices yet to change post-CLS
NEW YORK -- Banks are reporting little change in the way they trade as a result of using the new continuous-linked settlement (CLS) service, according to an official survey out this week.
Market looks to post-war scenarios
LONDON -- The war in Iraq continued to dominate forex trading last week, but analysts are starting to look beyond the current conflict to what might happen next.
War nerves compound cross-border M&A slump
LONDON -- Increased risk aversion due to uncertainty over the war in Iraq took its toll on cross-border mergers and acquisitions (M&A) in the first quarter of this year, according to data released at the end of March.
Hong Kong banks ready SARS contingency plans
HONG KONG -- Banks are readying contingency plans for FX trading in Hong Kong, as a potentially fatal pneumonia virus grips the trading centre.
Bank One adds more traders
CHICAGO -- Bank One hired two FX traders in March, continuing a build-up in spot and options trading begun earlier this year.
Hotspot FXi adds Bear
NEW JERSEY -- New Jersey-based online institutional FX trading platform Hotspot FXi has signed up Bear Stearns as a prime broker and market maker on its FX electronic communications network (ECN), the firm will announce today.
Mizuho sales head leaves
LONDON -- Head of treasury sales Richard Burrows and senior treasury sales dealer Neil Callard have left Mizuho Financial in London, just a year after winning their positions at the new bank.
Reuters mounts EBS challenge
LONDON -- Reuters is mounting a bid to unseat the Electronic Broking Service (EBS) as the premier broker in euro/dollar, a senior Reuters official told FX Week .
Dollar consolidation brings FX manager joy
STAMFORD, CT -- A temporary halt in the US dollar’s downtrend helped 60% of currency managers on the Parker FX Index maintain positive returns in February. But returns were limited -- the index was up just 0.16% for the month.
Japan confirms March interventions
TOKYO -- The Bank of Japan, on behalf of the Ministry of Finance, spent nearly ¥1.2 trillion in March in a bid to ease the Japanese currency’s strength against the dollar and the euro.
CLS interest picks up in Asia
SINGAPORE -- Asian financial institutions are becoming increasingly aware of the continuous-linked-settlement (CLS) service, according to research made public by ABN Amro last week. Just 30% of respondents in the bank’s survey of its clients in the…
Currenex white-labels trading platform
LONDON -- Multi-bank portal Currenex has sold a white-label version of its FX trading platform to an un-named bank, an official said last week.
Pressure mounts to keep Duisenberg at the ECB
FRANKFURT -- Political pressure is mounting on European Central Bank (ECB) president Wim Duisenberg to continue his tenure beyond his planned retirement in June.