Articles by FX Markets Staff
SEB introduces worldwide senior management changes
LONDON, STOCKHOLM & NEW YORK – Skandinaviska Enskilda Banken (SEB) has undergone a reshuffle of senior FX management.
Maybank launch targets retail clients
KUALA LUMPUR – Malaysian bank Maybank last week launched G10FX CG, currency-linked investment products aimed at retail clients.
Shock departures at Icap
NEW YORK – Interdealer broker Icap has witnessed the resignation of three senior members of the former EBS team, shortly after the departure of former chief executive Jack Jeffery.
Citi forex teams in London and Paris suffer losses
LONDON & PARIS – Citi has suffered two losses at its FX trading and sales teams in London, and is believed to have lost a third man in Paris.
BarCap poaches Tokyo team from JP Morgan
TOKYO – Barclays Capital has poached four FX sales staff from JP Morgan in Tokyo, as part of an effort to expand its coverage of the Japanese market.
FXMarketSpace's advantage is eroded
FXMarketSpace has released its second set of volume figures, showing the platform is growing steadily.
Landsbanki selects SuperDerivatives
REYKJAVIK – Iceland's Landsbanki has gone live with SuperDerivatives' multi-asset class price discovery platform, signalling the move towards multi-asset class sales by banks.
FXMarketSpace volumes continue to rise
LONDON – Average daily trading volumes on FXMarketSpace rose 54% in May, indicating steady growth over the platform, say analysts.
Best to return to State Street from JP Morgan
NEW YORK – Stephen Best, former global head of e-commerce at JP Morgan in New York, is due to resurface at State Street, the bank has confirmed.
CME gets go-ahead from UK regulator
The Chicago Mercantile Exchange (CME) received approval from the UK Financial Services Authority to provide global clearing services in the UK.
FXMS embarks on global push
LONDON, CHICAGO & NEW YORK – Eight new roles have been created at Reuters and CME joint venture FXMarketSpace (FXMS), to drive the platform's continued global expansion.
Banks strike landmark deal in Vietnam
HONG KONG – HSBC and Standard Chartered last week entered into the first interbank Vietnamese dong interest rate swap, marking a landmark deal for the local currency derivatives market.
Cantor to merge BGC and eSpeed in defensive move
NEW YORK & LONDON – Cantor Fitz-gerald's decision to merge subsidiary BGC Partners with separately listed affiliate eSpeed in a $1.3 billion deal is being viewed as defensive by market participants.
SwapsWire rolls out to South Korea
SEOUL – SwapsWire has gone live in South Korea. Interdealer brokers Tullett Prebon and BGC Capital Markets are now using the service to provide OTC trade confirmation and straight-through-processing (STP) services to dealing clients in the country.
Parker index rises on risk-adjusted basis
STAMFORD, CONNECTICUT – The Parker FX index saw a 1.99% return in April, with three-quarters of indexed programmes recording positive results, the remainder reporting losses.
Exchange-traded rupee futures contract to launch
DUBAI – On June 7, the Dubai Gold and Commodities Exchange (DGCX) will launch the first exchange-traded Indian rupee futures contract.
Sensible, flexible, stable: meet the GBP
Despite dropping all talk of euro membership, the UK has achieved exactly what it needed: a stable and sensibly priced currency while maintaining a flexible monetary policy, says Simon Derrick , head of currency research at Bank of New York in London
HSBC suffers losses in New York, London and Bristol
LONDON, BRISTOL & NEW YORK – HSBC is said to have lost members of its global FX team in three cities.
China's foreign assets reach $1.63 trillion
BEIJING – China's foreign financial assets increased 33% year-on-year to reach $1.63 trillion by the end of 2006, according to a statement released on May 25 by the regulator Safe (State Administration of Foreign Exchange).
Mifid: the final countdown
Those that haven't firmly addressed their execution policy must take action, says Chris Pickles , chair of the directive's Joint Working Group in London
Canadian dollar reaches record highs
OTTAWA – The Canadian dollar rose to record highs last week, amid better than expected growth leading to anticipation of interest rate rises.
UK comfortably leads the forex pack, report finds
LONDON – The UK continues to dwarf the US and Japan in its global share of FX transactions, according to a report by UK financial services promoter International Financial Services London (IFSL).