Articles by FX Markets Staff
Erste Bank implements Calypso
VIENNA – Erste Bank has begun implementing a front- to back-office solution from San Francisco-based techno- logy vendor Calypso Technology for interest rates, foreign exchange and credit derivatives.
HSBC names new forex line-up in North America
NEW YORK – HSBC has named two new co-heads of FX for North America.
GFI opens office in Seoul
SEOUL – Interdealer broker GFI has opened an office in Seoul, to provide onshore coverage to the Korean market. The new office began operations last Monday (March 5) under the name GFI Korea Money Brokerage. It brokers Korean interest rate swaps, and…
BoA hit by spate of forex departures
LONDON & NEW YORK – Gaps are widening within Bank of America's FX operations, with a flood of departures last week.
Italy's Banca Akros adopts Corona CLS
MILAN – Banca Akros, the investment-banking arm of Italy's Banca Popolare di Milano group, has implemented SmartStream Technologies' Corona CLS to manage its confirmation matching process.
BarCap loses three in Asia
HONG KONG – Barclays Capital has lost three members of its foreign exchange team in Asia, market sources told FX Week .
SuperDerivatives launches derivatives trading platform for hedge funds
LONDON – Technology firm Super-Derivatives has launched an online multi-asset derivatives trading platform, designed for hedge funds.
CFTC stings Pioneer for record-keeping lapses
WASHINGTON, DC – The US Commodity Futures Trading Commission has fined futures commission merchant Pioneer Futures $25,000 in civil penalties, for failing to keep up-to-date records.
Gain Capital rolls out web-based platform
BEDMINSTER, NEW JERSEY – Gain Capital has launched a Windows-based margin trading platform for institutional and individual investors.
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.
AIG launches emerging markets FX indexes
NEW YORK – AIG Financial Products last week launched emerging-markets (EM) foreign exchange indexes, to leverage the continued investor interest in the area.
Nordea triples its autoquote limits
COPENHAGEN – Nordea is continuing to develop its e-commerce capabilities, with an almost threefold increase to autoquote limits across all platforms to which it deals.
Why retail FX should be taken seriously
According to research from client strategy firm ClientKnowledge, profits from retail FX traders can be anywhere between $1 billion to $2 billion a year.
Gains and losses at Credit Suisse
LONDON - Credit Suisse lost three members of its UK sales team in London last week.
Trend-following strategies lose out once more
LONDON - Research by ABN Amro has found that trend- following strategies were the poorest performers in February, losing 2.5% over the month, said James Binny, head of FX analytics at the Dutch bank in London.
Bear Stearns targets emerging markets
LONDON - Bear Stearns has appointed two co-heads for an emerging markets initiative first trailed in January in FX Week .
US derivatives volumes rocket on market fears
CHICAGO & NEW YORK - Several US derivatives exchanges broke their daily traded volume records by more than 20% during February 28.
Concerns mount over reserve increases
LONDON - Foreign exchange reserves are set to grow by 20-59% over the next three to four years, according to a survey released by Central Banking Publications last Monday (February 26).
ABN Amro relocates Asia G11 FX business
SINGAPORE - ABN Amro has relocated its G11 FX business to Singapore from Sydney as it continues to centralise sales and trading in regional centres.
Retail FX offers lucrative returns
LONDON - Retail FX traders account for $50 billion of the $2.5 trillion a day FX market, according to research released last week.
Forex drives major bank earnings
ZURICH, UK AND COPENHAGEN - European banks have reported a strong set of results for 2006, with FX businesses playing a key role.