Articles by FX Markets Staff
CMS Forex launches e-FX platform
NEW YORK -- New York-based broker Capital Market Services Forex (CMS) aims to add 1,000 retail FX clients in the next six months with a new online spot FX trading platform.
BoJ management moves disappoint forex market
TOKYO -- There was an air of disappointment in the FX markets last week as the Bank of Japan revealed its new management line-up.
RBA unwinds Australian dollar holding
SYDNEY -- The Reserve Bank of Australia took profits on its Australian dollar holdings earlier this year, selling nearly A$500 million, according to the bank’s February bulletin.
Market static as uncertainty rules
LONDON -- There was little action in G3 FX last week, as the geopolitical stand-off over Iraq extended to the markets.
ABN Amro overhauls FM division
AMSTERDAM -- ABN Amro last week completed a thorough overhaul of its financial markets division, in a reorgnisation that will affect foreign exchange in two key ways.
FX offers hope for Reuters
LONDON -- Dealing 3000, Reuters’ FX trading system, lost some ground last year, but FX provided some joy for the information and technology giant in its annual results published last week.
Hotspot FXi opens in Europe
NEW JERSEY -- Online institutional FX trading platform Hotspot FXi has hired Rakesh Shah to head its new European office in London.
Traders reap rewards in LatAm markets
MEXICO CITY -- As clients and banks scour the globe for volatile FX markets, Latin America has become a key battleground for new FX business, senior market participants told FX Week .
IG takeover sparks FX job worries
LONDON -- FX jobs could be under threat if City Index, the London-based spread-betting shop owned by Intercapital private group, goes ahead with a takeover of rival IG Index.
Trichet still best bet for ECB job
Jean-Claude Trichet’s trial is not an insurmountable obstacle to his accession to ECB presidency. But while the outcome is uncertain, French officials must come up with a back-up candidate, says Stephen Sandelius, Paris correspondent for Market News…
Rob Standing quits JPMC with spun-off hedge fund
LONDON -- Rob Standing, head of European rates at JP Morgan Chase in London, will leave the bank to head the London Diversification Fund (LDF) in the coming months, a spokesperson for the bank told FX Week .
CLS settles a trillion a day
NEW YORK -- Continuous Linked Settlement, the new settlement service for foreign exchange, settled a record $1 trillion in FX payments on February 18.
Refco launches web prime brokerage using Currenex
CHICAGO -- Refco F/X Associates, part of Refco Group, has taken its FX prime brokerage service online in a bid to improve efficiency, a senior official at the broker in Chicago told FX Week .
BBH takes FX Index Link online
NEW YORK -- US custodian Brown Brothers Harriman (BBH) has put its FX Index Link trading service online.
Blix report boosts dollar
NEW YORK -- The US dollar rallied slightly in the wake of United Nations chief weapons inspector Hans Blix’s report on Iraq late last Friday.
Politics, economy deal double blow to sterling
LONDON -- The British pound was at the mercy of economic and political concerns last week as it plummeted to a three-and-a-half-year low against the euro.
Forex unhurt as ING cuts in New York
NEW YORK -- Foreign exchange has been spared in a cull of staff at ING in New York. Only one forex position was cut, said a bank spokesperson, in a spate of departures in January and February.
GFI closes FX options mark-to-market gap
NEW YORK -- Solving the problem of marking FX options to market came a step closer to being resolved last week, with the launch of a new ‘revaluation fixing’ service from New York-based interdealer broker GFI.
Trema corners central bank FX market
STOCKHOLM -- Swedish technology firm Trema is tightening its grip on the market for central bank FX technology, senior officials at the firm told FX Week .
Goldman to add FX to research portal
LONDON -- Investment bank Goldman Sachs will add FX to a new centralised data and research platform in March.
ABN reports FX uptick
LONDON -- Dutch bank ABN Amro reported a 40% rise in FX dealing income for 2002 in a report released last week.