Articles by FX Markets Staff
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.
CLS mulls netting option
NEW YORK - CLS is reviewing the possibility of launching a netting service, as the settlement platform looks to adapt to the changing landscape.
Fimat opens Sydney FX desk
SYDNEY - Brokerage firm Fimat has launched an FX desk in Sydney as it expands its Asia-Pacific presence.
Parker FX index reports flat returns for January
STAMFORD, CT - The Parker FX index has reported a flat return for January, with exactly half its indexed programmes reporting positive results, and the remaining half reporting losses.
South Africa looks to currency futures
JOHANNESBURG - South Africa will launch currency futures trading on its interest rate exchange platform, YieldX, in coming months.
Raised margin requirements threat to global liquidity?
CHICAGO - The Chicago futures exchanges' decision to raise margin requirements could affect global liquidity, warn analysts.
BarCap adds commodity-linked structured notes
LONDON - Barclays Capital has added commodity-linked structured notes trading to its Barx Investor Solutions platform.
Thailand to scrap controls
BANGKOK - The Bank of Thailand's plans to get rid of remaining capital controls will lead to a widening of the spread between the onshore and offshore spot rates, say analysts.
Slovakia braced for euro arrival
What factors will determine the conversion rate of the Slovakian koruna when it joins the euro, asks Jan Toth, ING's chief economist in Bratislava
Gains and losses at Credit Suisse
LONDON - Credit Suisse lost three members of its UK sales team in London last week.
Trading platform volumes surge as stock markets plunge
LONDON - The sharp correction in stock markets around the world last week triggered the unwinding of the carry trade, bringing record trading volumes to foreign exchange platforms.
Saxo adds ruble to SaxoTrader platform
Saxo Bank has added the Russian ruble to its online trading platform SaxoTrader. The currency can be traded versus the US dollar.
Pension funds at risk from currency fluctuations
LONDON – UK institutional investors are overexposed to carry trades and currency risk in their portfolios, according to research released last week. The rise in currency risk comes from greater exposure to international equity markets.
Deutsche names global head of options
LONDON – Deutsche Bank has named Mark Carrodus global head of FX spot and options in London.
ETrade pilots platform for US retail investors
NEW YORK – Electronic broker ETrade Securities has begun piloting an electronic trading platform for US retail investors to trade FX and equities in international markets.
Philippines makes progress towards forex liberalisation
MANILA – The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), last week approved a package of reforms set to liberalise the country's regulatory framework for FX.
FXall goes live with Accelor ECN
LONDON – FX trading portal FXall has launched Accelor, its new anonymous electronic communications network (ECN). The platform went live with a pilot group of 30 sell- and buy-side participants at the end of last month, and is now being rolled out more…
Man Financial fined by CFTC for poor supervision
WASHINGTON DC – Man Financial is paying almost $316,000 in penalties for failing to effectively supervise staff.
Traders unmoved by BoJ interest rate rise
TOKYO – Traders shrugged off the Bank of Japan's decision to raise interest rates by 25 basis points last Wednesday (February 21), with the yen remaining weak in its wake.
Lloyds TSB expansion plans proceed apace
LONDON – Lloyds TSB Capital Markets has hired Nicholas Hogg to join its FX sales team in London, with the title of assistant director of commercial banking sales. He comes from HSBC, where he was team leader of FX and interest rate retail sales. Hogg…
Carry on... with a difference
There are many ways to take advantage of uncorrelated carry trades, says Marios Maratheftis, FX strategist at standard chartered in London
Where there's change, there's opportunity
The financial markets are exceptionally good at thinking up new and innovative ways of getting things done when hurdles emerge.