Articles by FX Markets Staff
Saxo Bank opens virtual head office
CYBERSPACE – Saxo Bank has opened a virtual headquarters in social networking site Second Life.
ICE pilots Nybot index
ATLANTA – The Intercontinental Exchange (ICE) began piloting the New York Board of Trade (Nybot) US dollar index and FX futures products last Friday (March 16), with a full launch due in April.
BarCap gains and loses in EM
LONDON – Barclays Capital has made a gain and a loss on its emerging markets options desk in London, indicating the competitive landscape for emerging markets traders.
Oanda adds five exotic currency pairs
TORONTO – Online FX trading company Oanda has added five new currency pairs to its trading platform FXTrade.
Dresdner recruits in New York
NEW YORK – Dresdner Kleinwort has hired Ira Koyner as head of FX options in New York.
Bullish results for US investment banks
LONDON & NEW YORK – US investment banks have continued to report year-on-year growth, in first quarter results released last week.
Calpers begins trading over LavaFX
SACRAMENTO – The California Public Employees' Retirement System (Calpers) has begun trading over electronic communications network (ECN) LavaFX.
GFI gains Fenics FX client in Singapore
SINGAPORE – A major Singapore bank, thought to be DBS, is deploying foreign exchange option pricing and risk management software, Fenics FX, from interdealer broker GFI.
WestLB plugs into Gissing Software
LONDON – German bank WestLB is using technology from Gissing Software to distribute foreign exchange and money market prices across its offices globally.
FXMarketSpace build-up continues with eight hires
LONDON, NEW YORK & CHICAGO – FXMarketSpace, the Reuters and Chicago Mercantile Exchange (CME) joint-venture platform, has made eight new hires ahead of launch at the end of this quarter.
RBS builds macro team
LONDON – The Royal Bank of Scotland Global Banking and Markets has established a new macro proprietary trading team in London.
WestLB relocates Asian forex hub to Sydney
SYDNEY & Düsseldorf – WestLB is relocating the Asian hub for its 24-hour FX trading business from Singapore to Sydney.
Wall Street Systems realigns technology profile
NEW YORK & LONDON – Technology vendor Wall Street Systems has repositioned its products in an attempt to target banks in addition to corporates.
Merrill Lynch to boost FXPB
LONDON – Merrill Lynch looks to be building up its foreign exchange prime brokerage (FXPB) capabilities, with the hire of Roger Allen in London.
When opportunity comes a-knockin'
In the past few weeks, FX Week has looked at opportunities the retail forex market presents for banks.
HSBC hit by departures in FX
LONDON & HONG KONG – HSBC's international FX operations saw the loss of a number of staff last week.
HSBC hit by departures in FX
LONDON & HONG KONG – HSBC's international FX operations saw the loss of a number of staff last week.
Bloomberg adds Asian NDIRS to its terminal
SINGAPORE – Bloomberg has added trading in Asian non-deliverable interest rate swaps to its Professional terminal, signalling the continued push by platforms to expand coverage of the region.
State Street acquires Currenex
BOSTON & NEW YORK – State Street has completed the acquisition of multibank platform and technology vendor Currenex for $564 million.
EBS to expand EM capability
SINGAPORE – Spot broker EBS plans to expand its emerging markets capabilities with a number of new currencies set for launch in the coming months.
The risky business of trading
The case for banks entering the retail market with trading platforms of their own seems to be getting stronger.
Bear Stearns poaches senior BNP Paribas staff
PARIS – Bear Stearns has hired two senior FX staff from BNP Paribas, as part of plans to launch its FX business in Paris, market sources say.
The beginning of a long-term decline?
The carry trade environment for GBP/JPY is scrutinised by Simon Derrick, managing director, global markets at Bank of New York in London