Articles by FX Markets Staff
Banks slow to prepare for Mifid
PARIS – Investment banks have spent 20–25% less than initial estimates on preparations for the Markets in Financial Instruments Directive (Mifid), according to research from Paris-based IT service provider Atos Origin.
Handelsbanken live with D-3 pricing system
Stockholm-based Handelsbanken Capital Markets has begun using Digitec’s D-3 system to calculate and distribute FX and money market rates.
Merrill suffers $5.6 billion FICC losses
NEW YORK – Merrill Lynch last week reported record results in interest rates and currencies during the third quarter, but gains were wiped out by big losses in credit and mortgage markets.
Thomson launches online news service
Thomson Financial has launched Thomson FX Hub, an online news service for retail FX traders.
BGC expands in north America
NEW YORK - Interdealer broker BGC has expanded its north American foreign exchange franchise, hiring Clive England in a newly created role as head of e-commerce for the region.
Deutsche dbFX now in Arabic
MANAMA - Deutsche Bank has launched an Arabic version of its margin trading platform dbFX, to capture the burgeoning retail foreign exchange market in the Middle East.
FXCM launches systems selector
NEW YORK - Online broker FXCM has created a new systems trading platform, Forex System Selector (FSS), which allows clients to customise and manage their own trading systems.
Citi posts double-digit FX growth
YORK - Citigroup last week reported double-digit percentage growth in foreign exchange revenues during the third quarter, but FX gains were overshadowed by massive losses in the credit and mortgage markets.
Ex-Deutsche exec to head Goldman's Asian sales
HONG KONG - Goldman Sachs is believed to have hired Vinit Sahni as head of foreign exchange, interest rates and macro product sales for Asia.
South Korean forex reaches record high
SEOUL - FX turnover hit a record high in South Korea in the third quarter.
Philippines to continue FX deregulation
MANILA - The Philippines central bank, Bangko Sentral ng Pilipinas (BSP), is set to liberalise the foreign exchange market at the end of October, said the bank's deputy governor, Diwa Guinigundo, last week. The central bank will lift documentary…
TraderTools gets Smart
NEW YORK - Electronic FX solutions provider TraderTools has teamed with liquidity management provider Smart Trade Technologies to provide asset managers with access to multiple liquidity providers.
IDC global data available on XE.com
NEW YORK - Financial market data and analytics firm Interactive Data Corporation is rolling out its global foreign exchange data to FX website XE.com.
The value of a fall
The dollar might be in serious trouble, but its fall could also be its salvation, according to David Bloom and Paul Mackel of HSBC's FX strategy team in London
Will intervention work?
European Central Bank intervention could spark a battle with the foreign exchange market, says Mitul Kotecha, head of global foreign exchange research at Calyon in London
Market demands multi-asset solutions
SINGAPORE - Hedge funds are driving demand for multi-asset platforms in Asia, said Michele Wee, director and head of electronic FX at Deutsche Bank in Singapore.
ANZ expands London FX
LONDON - ANZ has made four additions to its spot foreign exchange and currency options trading desk in London, as it looks to stengthen its trading presence in the city.
Market innovation threatens platforms
SINGAPORE - Growth in the Asian FX market is leading to big operational changes in the way buy- and sell-side institutions do business, according to Justyn Trenner, chief executive at market research company ClientKnowledge.
London forex faces 130 job cuts
LONDON - Foreign exchange workers in London should brace themselves for 130 job cuts in 2008 as the interbank market crisis forces banks to reduce staff levels, according to estimates by London's Centre for Economics and Business Research (CEBR).
Asian corporates hungry for new FX products
SINGAPORE - Asian corporates typically have a bigger appetite for new and innovative structured FX products than their European counterparts, according to Selene Chong, head of FX structuring at HSBC in Hong Kong, speaking at the FX Week Asia congress in…
Icap breaks into post-trade forex
LONDON & NEW YORK - Icap's agreed acquisition of post-trade technology vendor Traiana signals a push by the industry to tackle post-trade processing strains brought on by surging ticket volumes.