Articles by FX Markets Staff
Ex-EBS chief now at SuperD
LONDON - Jack Jeffery, former chief executive at electronic spot broker EBS, has resurfaced at options pricing and risk management software vendor SuperDerivatives.
Between a rock and a hard place
Patrick Lefler, foreign exchange consultant at Wall Street Systems in New York, looks at the future of CLS as demand grows for bilateral netting
Hedge funds keen on FX
STAMFORD, CT - Hedge funds increased their forex trading volumes by 180% in 2007, as global FX trading volumes rose 36% to $99 trillion, according to statistics released May 28.
OSE to launch FX margin trading market
OSAKA - The Osaka Securities Exchange (OSE) will launch a foreign exchange margin trading market in March next year.
The end of the beginning
David Mann, head of research, at Standard Chartered in Hong Kong looks at the key drivers for the major foreign exchange markets
Saxo makes Trader mobile
COPENHAGEN – Saxo Bank launched SaxoWebTrader 2.0 and SaxoMobile-Trader 2.0 last week.
Indian banks demand clarity on forex tax
MUMBAI – Institutional banks in India are requesting clarification from the country’s Central Board of Direct Taxes (CBDT) over whether a new levy on foreign exchange transactions applies to wholesale and interbank trades.
Corporates wary of forex e-trading
NEW YORK – Corporates have been avoiding the use of electronic platforms in the execution of their foreign exchange trades, with most showing a preference for traditional voice trading.
Reuters’ RTFX offers algo strategies
LONDON – Thomson Reuters is teaming up with Credit Suisse to introduce algorithmic trading strategies on the Reuters Trading for Foreign Exchange (RTFX) product next month.
Icap revenues soar on back of volatile forex markets
LONDON & NEW YORK – Volatile currency markets led to a 23% increase in annual foreign exchange revenue at interdealer broker Icap, according to results released last week (May 20).
Integral launches FX Power Trade
MOUNTAIN VIEW, CA – Trading technology vendor Integral Development officially launched FX Power Trader, a private-branded FX margin trading system, on May 22
Death by association
The application of credit technology to diverse underlyings led to the birth of collateralised foreign exchange obligations in 2006. But despite being built from uncorrelated underlyings, their fortunes have proven highly correlated with the wider market…
NewEdge grows in Asia-Pacific
HONG KONG – Brokerage firm Newedge is expanding its presence in Hong Kong with five new hires in the special administrative region that will grow its futures and options offering
BoA’s Gotelli joins Wells Fargo
SAN FRANCISCO – Wells Fargo has hired Bob Gotelli as head of global sales for corporate foreign exchange in San Francisco.
Japanese retail forex boom expected to continue
TOKYO – The boom in retail margin foreign exchange trading in Japan is likely to continue, according to research by Boston-based consultancy Celent.
Five go to Deutsche in North America
NEW YORK – Deutsche Bank Securities has made five hires in its foreign exchange sales and trading team for North America.
WallStreet FX upgrade ups processing speed to 72 trades a second
NEW YORK – New York-based trading technology vendor Wall Street Systems has upgraded its trade-processing system Wallstreet FX to make it faster, it said last week (May 19)
CLS live with Israeli shekel and Mexican peso
LONDON & NEW YORK – CLS Bank is today (May 26) launching settlement of Israeli shekel and Mexican peso foreign exchage trades in a move that expands its footprint in the emerging market currencies.
China's FX derivatives protocols 'must be clarified', say speakers
BEIJING - China's FX derivatives market must find a way to clarify differences and overlaps between the country's two major protocols on entering into derivatives transactions, said industry observers.
Asia and the US-led slowdown
Jane Foley, senior foreign exchange strategist and portfolio manager at Redtower Asset Management in London, looks at the implications of a US slowdown on the Asian markets
Non-bank firms to get China look-in
BEIJING - China plans to lower barriers to entering the country's interbank FX market to enable non-bank institutions to participate, said Wang Xiaoyi, deputy head of regulatory body, the State Administration of Foreign Exchange (Safe).
Banks at odds over FX flows outlook
LONDON & PARIS - Major banks are at odds as to whether high foreign exchange volumes seen during the first quarter will continue into the rest of 2008.