Articles by FX Markets Staff
GFI trades first interbank rouble swaption
Interdealer broker GFI Group brokered the first interbank over-the-counter ruble interest rate option trade at the end of November.
Currenex platform revamp boosts corporate coverage
NEW YORK - Currenex has released a redesigned platform in an effort to boost activity from the corporate market, FX Week has learned.
Tullett Prebon expands product range in Japan
LONDON & TOKYO - Interdealer broker Tullett Prebon has restructured its Tokyo joint venture with broker-dealer house Central Tanshi, a move that will have a big impact on revenues coming out of Japan, a company official told FX Week .
Barclays promotes four FX managing directors
LONDON & FRANKFURT - Barclays Capital's foreign exchange division has started the new year with four new managing directors.
Dah Sing Bank deploys Fenics FX
HONG KONG - Dah Sing Bank has begun using foreign exchange options pricing and risk management system Fenics FX, developed by interdealer broker GFI, at its Hong Kong-based treasury department.
Algorithmic trading comes of age
Last summer's resurgence in market volatility highlighted the role of algorithmic trading in maintaining the active flow of electronic liquidity.
There's nothing as certain as change
Happy New Year! As we enter 2008, one thing is for certain - the evolution of the foreign exchange industry continues at an unprecedented rate.
Trading levels show growth of forex as asset class
LONDON & CHICAGO - Interdealer broker Icap and the Chicago Mercantile Exchange (CME) reported record foreign exchange trading volumes in 2007, demonstrating the continued adoption of forex as an asset class.
SWFs look beyond the US dollar
NEW YORK & HONG KONG - The greenback is likely to be the main loser as sovereign wealth funds (SWFs) diversify into yen and other non-euro currencies, say analysts.
Yen carry traders dealt New Year blow
LONDON & TOKYO - Several dealers were caught out when rolling over short yen positions in GBP/JPY carry trades over the New Year period as the yen surged against the pound, traders told FX Week .
FXall posts record volumes for 2007
LONDON - Multibank portal FXall reported record annual trading volumes of over $13.4 trillion - single count - in 2007, a 37% rise over 2006 figures.
Forex results strong in Q4
NEW YORK - Goldman Sachs and Morgan Stanley reported strong results for foreign exchange in the fourth quarter of 2007, despite challenging market conditions.
The final frontier
Win Thin, senior currency strategist at Brown Brothers Harriman & Co in New York, evaluates the investment prospects for the frontier markets
Alliance & Leicester boosts FX
LONDON - Alliance & Leicester Commercial Bank is developing its foreign exchange coverage with a key hire in London.
Yen carry traders dealt New Year blow
LONDON & TOKYO - Several dealers were caught out when rolling over short yen positions in GBP/JPY carry trades over the New Year period as the yen surged against the pound, traders told FX Week.
FxTrade fined $9.9 million for fraud
WASHINGTON, DC - The US District Court for Tennessee found Gordon Jack Vandeveld, a broker at Tennessee firm FxTrade Financial, guilty of futures fraud on December 12.
Short-dated RMB forwards curve widens
HONG KONG - Short-term renminbi non-deliverable forwards (NDFs) will remain priced higher than onshore forwards into year end, as a US dollar liquidity squeeze causes onshore market participants to hold onto the greenback, say analysts.
Holiday Break
FX Week is taking a break over the holidays and will next be published on January 7, 2008. We wish all our readers a very happy Christmas and a prosperous new year.
Lehman sees forex up but fixed income down in Q4
NEW YORK - Lehman Brothers has achieved strong foreign exchange revenues for the fourth quarter, despite suffering big losses in fixed income.
Subprime crisis drains FX bonus pool
LONDON - Staff at banks worst hit by the subprime crisis are due to face reductions in cash payouts, sources tell FX Week .
BGC loses FX chief but gains e-commerce head
LONDON - Interdealer broker BGC Partners has lost its London-based managing director of foreign exchange, but has strengthened its e-commerce capabilities with a key hire in the City.