Articles by FX Markets Staff
Former Fimat e-forex chief joins Hotspot FX
JERSEY CITY - Chris DeFilippo, former New York-based head of electronic foreign exchange at institutional brokerage firm Fimat is today (November 26) starting at electronic communications network (ECN) Hotspot FX.
Icap follows new pricing model for EBS
LONDON - Interdealer broker Icap is introducing a volume-based pricing model for electronic spot broking system EBS, as it evolves to fit the changing landscape.
Volatility profits Icap
LONDON - High volatility in currency markets led to a 35% rise in first-half foreign exchange revenues at interdealer broker Icap, according to results released last week.
New Deutsche indexes map currency correlation in Asia
SINGAPORE - Deutsche Bank has launched a set of indexes designed to capture returns generated by the apparent growing co-ordination of currency policy among Asian central banks.
Constantia upgrades
SAN FRANCISCO - Calypso Technology has been licensed by Austria's Constantia Privatbank to provide a cross-asset class platform for front, middle and back office.
India to trade rupee futures
MUMBAI - The Reserve Bank of India (RBI) is preparing to introduce rupee futures to create more hedging tools in light of rising capital inflows.
CLS Group deepens footprint in emerging markets
SEOUL - Shinhan Bank has become a shareholder in CLS Group, bringing the total number of Asian shareholders in the settlement system to 12.
New Swift solution aims for better processing
NEW YORK - Bloomberg is teaming up with industry messaging co-operative Swift to tackle the division between the front, middle and back offices when processing foreign exchange trades.
CLS sets record for daily settlements
LONDON & NEW YORK - CLS Bank set a new record for the volume of payment instructions settled in a single day on November 13.
Pre-operational netting now a necessity
LONDON - This summer's credit crisis has highlighted the need for the foreign exchange industry to resolve back-office burdens created by ticketing growth, according to Andy Coyne, global head of FX prime brokerage at Citi.
SWFs more likely than central banks to diversify FX assets
LONDON - Sovereign wealth funds are much more aggressive in diversifying foreign exchange assets than central banks, says Mansoor Mohi-uddin, the managing director of FX stategy at UBS.
ECB needs to have a global outlook
LONDON - Global factors will increasingly influence European Central Bank (ECB) monetary policy decisions, Philippe Moutot, the director of monetary policy at the central bank, said last week.
StanChart introduces electronic NDF trading
LONDON - Standard Chartered began offering electronic trading in emerging market non-deliverable forwards (NDFs) over proprietary electronic platform Straight2Bank Web and through multi-bank platform FXall on November 13.
FX algos no longer just for big players
LONDON - Gaining an edge in foreign exchange execution through trading algorithms is no longer the domain of just the largest forex dealers, according to a panel at the FX Week Europe congress last week.
UBS makes more changes to FICC team
ZURICH - UBS has unveiled further changes to its newly created fixed income, currencies and commodities (FICC) division, less than a month after revealing substantial third-quarter losses relating to the subprime crisis.
Retail sets the pace for future of forex
LONDON - The retail market is likely to set the standard for the future of foreign exchange, said panelists at the FX Week Europe conference last Tuesday.
Apama users given more algo options
Trading technology vendor Progress Software has integrated the Progress Apama algorithmic trading platform into electonic communications network Accelor.
Mifid spurs e-trading growth
LONDON - Best execution requirements under Mifid could boost growth in electronic foreign exchange volume, according to a keynote address at last week's FX Week Europe event.
JP Morgan unveils new multi-commodity index
LONDON - JP Morgan has launched a new commodity curve index that references 33 commodities across various maturities.
Generating alpha: benefiting from beta
HONG KONG - Understanding beta and passive alpha strategies is valuable to alpha generation in foreign exchange, said Raymond Franzi, director and head of global finance and FX structuring for Asia-Pacific at Deutsche Bank.
How to prepare for reduced volatility
In the aftermath of credit-related market turmoil, Neil Mellor, currency strategist at The Bank of New York Mellon in London, suggests a way to prepare for a return to more historically typical levels of volatility
UBS makes more changes to FICC team
ZURICH - UBS has unveiled further changes to its newly created fixed income, currencies and commodities (FICC) division, less than a month after revealing substantial third-quarter losses relating to the subprime crisis.
FXMarketSpace trading slow in October
CHICAGO - Trading on FXMarketSpace continued to decline in October, with average daily volumes dropping 16% to $696 million, according to figures released by the platform last week.