Articles by FX Markets Staff
Deutsche woos private clients
LONDON - Deutsche Bank has established a private clients foreign exchange team in London and Zurich, to target the expanding high-net-worth client base.
Yen stands strong
Philip Brass, global head of CitiFX flows in London, predicts a prolonged period of yen strength as holders of short yen positions change their investment strategies
Reduced growth will fuel FX competition
As the market gears up for a fresh year of activity, Patrick Lefler, FX consultant at Wall Street Systems, predicts the key FX market developments in 2008
FX adds shine to banks' Q4 results
BOSTON & NEW YORK - State Street's acquisition of Currenex led the US bank to a strong 2007 fourth-quarter performance, despite the year's subprime woes.
S&P introduces Currency Arbitrage index
LONDON - London-based ratings agency Standard & Poor's has launched a family of indexes designed to model arbitrage strategies in the financial markets. They include the Currency Arbitrage index.
CFTC stays quiet on forex scam
WASHINGTON DC - The United States Commodity Futures Trading Commission (CFTC) said it could neither "confirm nor deny" the existence of an investigation by its offices into a US man who allegedly defrauded investors millions of dollars.
Citi launches Japan desk in India
NEW DELHI - Citigroup is launching a Japan-focused desk in New Delhi at the end of January, to cater to a growing number of Japanese corporate clients in the country.
Danske Markets expands with GFI's Fenics FX
LONDON - Danske Markets is rolling out pricing and risk management software Fenics FX in Copenhagen, Stockholm, Helsinki, Oslo, London, Dublin, Belfast, Luxembourg and Warsaw.
dbFX goes Spanish
LONDON - Deutsche Bank plans to extend its coverage of the retail foreign exchange market by launching margin trading platform dbFX in additional European languages this year.
Morgan Stanley merges fixed income
NEW YORK & LONDON - Morgan Stanley has merged its fixed-income trading operations into a single unit, one month after announcing a net revenue loss of $7.9 billion in the fourth quarter of 2007.
UBS wins A&L's options outsourcing
LEICESTER - Alliance & Leicester (A&L) has contracted UBS to provide foreign exchange options technology to the UK bank.
UK pension funds face cashflow crisis
LONDON - A predicted GBP downturn means pension funds in the UK need to be prepared to pay out "real money" on losses from passive currency hedges on their overseas investments, warned currency managers.
Reuters launches enhanced prime brokerage service
LONDON - Ten banks and buy-side clients have begun using a revamped prime brokerage offering by Reuters to trade over electronic trading system Spot Matching.
UBS loses staff to Julius Baer
SINGAPORE - Bank Julius Baer has expanded its marketing team in Singapore with senior hires from Swiss rival UBS.
CME e-trading upgrades save time and money
CHICAGO - CME Group has announced several product and technology enhancements aimed at reducing response time and cost.
Coming on strong
Lydia Kranner, analyst at RZB in Vienna, evaluates the prospect of Chinese yuan appreciation in 2008
Nordea builds algorithms
COPENHAGEN - Nordea plans to begin using algorithms for trading and risk management within the first half of this year, a senior official has told FX Week .
FX market goes back to fundamentals
LONDON - A correction in overvalued currencies and risk aversion will promote strategies based on economic factors and real value this year, say analysts.
Swedbank goes live with e-FX price stream
STOCKHOLM - Swedbank plans to offer streaming foreign exchange rates over its proprietary platform and multi-bank platform, FXall, by the end of this month.
NFA shuts down four FX dealers
CHICAGO - Four foreign exchange brokers were forced to close operations last month after failing to meet the National Futures Association's (NFA) $5 million minimum net capital requirements.
UBS launches Greenhouse Index
LONDON - UBS is set to launch UBS Greenhouse Index (UBS-GHI), a tradable investment benchmark tracking a combination of weather futures and greenhouse gas emissions credits, on January 23.
Travelex takes on TwoFour
Foreign exchange specialist Travelex will begin using TwoFour as its global FX trading system following its acquisition of Ruesch International, a business-to-business global payment systems vendor.
US banks in management shake-up
GLOBAL - Lehman Brothers and Merrill Lynch have seen a shake-out of senior management globally as the banks began paying out bonuses last week.