Articles by FX Markets Staff
Barclays launches FX-linked ETNs
NEW YORK – Barclays Bank launched three exchange traded notes (ETN) linked to the movement of the euro, sterling and yen relative to the dollar on the New York Stock Exchange last Wednesday (May 9).
BoE rate hike should have been higher
Commenting on last week's widely anticipated 0.25% rise in UK base rates, London-based fund manager Ted Scott of F&C Investments believes the Bank of England's Monetary Policy Committee should have done more to stamp out inflationary expectations
Merrill Lynch continues global FX expansion
NEW YORK & SINGAPORE – Merrill Lynch is continuing to build up in FX, with hires made in the US and Asia.
Royal Bank of Scotland makes senior hire in Asia
HONG KONG & SEOUL – The Royal Bank of Scotland (RBS) has hired Water Cheung as head of treasury investor products.
Misys upgrades Opics Plus for higher volumes
NEW YORK – Technology provider Misys has launched Opics Plus v2.0, to accommodate an anticipated rise in FX trading volumes by clients.
Citi embarks on major shake-up
NEW YORK, LONDON & SINGAPORE – Citi has completed the next phase of senior management changes in FX under the new fixed income, currencies and commodities (FICC) structure introduced in 2006.
ABN Amro loses sales staff amid merger talks
LONDON & FRANKFURT – ABN Amro has seen departures from its London and Frankfurt sales desks in the run-up to the bank's proposed merger with Barclays.
Hotspot and Traiana warm up to Netlink
JERSEY CITY, NJ – Electronic communications network Hotspot FX is teaming up with FX post-trade technology vendor Traiana, to roll out NetLink over its institutional platform.
Standard Chartered launches e-trading channel
LONDON – Standard Chartered went live on May 2 with Straight2Bank, its proprietary electronic banking channel for corporate and institutional clients.
CME hires two for forex product push
CHICAGO – The Chicago Mercantile Exchange (CME) has expanded its FX products team, with two newly created positions in FX options and sales.
Credit Suisse joins index bandwagon
LONDON – Credit Suisse has launched FX Rolling Optimised Carry Indices (ROCI) for forex carry trade investors.
Feeling the strain of high-volume trading
The decision to roll out netting services by electronic communications network Hotspot FXi demonstrates initiative on the platform's part.
BNP hires two US rates heads
NEW YORK, LONDON & PARIS – BNP Paribas has boosted its New York rates and London commodities businesses, but is said to have lost in French FX sales.
Logicscope to use BT Radianz for TradeSTP
LONDON – Logicscope, a data management and STP systems vendor, said it will use the BT Radianz shared market infrastructure to offer hosted access to TradeSTP, its multi-asset trade notification product.
Wall Street Systems eyes smaller banks
MONTREAL – Wall Street Systems has made its Wallstreet FX trade processing tool available over an application service provider (ASP) aimed at smaller banks.
Scotiabank automates forex trading in Mexico
LONDON – Scotiabank has adopted and deployed Cognotec's AutoDeal+ trading platform in Mexico, to offer automated FX trading to its clients for the first time.
Mixed results for Swiss banks
ZURICH & NEW YORK – Credit Suisse and UBS posted a mixed bag of results in fixed-income last week, with the former seeing a rise, the latter experiencing a decline.
BoA creates London team
LONDON – Bank of America (BoA) has created a proprietary rates trading team to manage strategic positions for Europe, the Middle East and Africa (EMEA).
Avoiding corporate cable complacency
UK corporates need to keep their eyes on hedging policies as city analysts debate the sustainability of the current cable price, says John Haines , managing director, financial markets sales at Lloyds TSB Corporate Markets
Morgan Stanley gets Tradebook
NEW YORK – Morgan Stanley has enabled its institutional clients to electronically trade FX and interest rate futures on Bloomberg's Tradebook platform.
Merrill Lynch launches first rated CFXO
LONDON – Merrill Lynch has launched the first full rated and managed collateralised foreign exchange obligation. The product is being managed by Crédit Agricole Asset Management, and rated by Standard & Poor's.
Opening up can be so hard to do...
Reuters' decision to open up its desktops to other platforms is clearly a sign of the changing tides in the foreign exchange industry.