Articles by FX Markets Staff
RBS names Richardson head of options and EM in New York
NEW YORK – RBS has made Jason Richardson head of currency options and emerging markets for the FX business in New York.
Currenex set to move into new asset class
NEW YORK – Trading technology vendor Currenex is going multi-asset class, according to officials at the company in New York.
Texas court fines PIC $123 million
WASHINGTON DC – The Texas Federal Court has levied more than $123 million in fines and restitution, in a case filed against Premium Income Corp (PIC) and its affiliates, Inforex and Tri-Forex International.
ECB, BoE leave rates unchanged
Daragh Maher, senior FX strategist at Calyon in London, evaluates the European Central Bank and the Bank of England's inaction on rates last week, and what lies ahead
Morgan Stanley creates global head of FX role
NEW YORK – Morgan Stanley has named Steve Mettler global head of FX sales and trading in New York.
BarCap hires Lehman hedge fund FX chief
GLOBAL – Graham Bibby, head of FX hedge fund sales at Lehman Brothers, is understood to have left the bank for a similar position at Barclays Capital.
Citigroup names Prasad global head of forex and local markets
LONDON – Anil Prasad, head of CEEMEA sales and trading, has been named global head of FX and local markets at Citigroup in London.
Dresdner exodus continues in forex
LONDON – The exodus from Dresdner Kleinwort's foreign exchange business continued last week, with three departures hitting the institutional FX sales desk, and one each from FX options and spot FX trading in London.
CME forex volumes rose 29% in January
CHICAGO – The Chicago Mercantile Exchange daily FX volume averaged 494,000 contracts in January, up 29% from the same period last year.
Parker index reports bad year for currency funds
STAMFORD, CONNECTICUT – Currency funds closed 2006 with weak results, according to data from Parker Global Strategies' currency funds index.
NAB recovers after options scandal
ADELAIDE – National Australia Bank chairman Michael Chaney announced "good" growth in profitability last year.
Charting the rise of the ruble
Dmitri Fedotkin, economist at VTB Bank Europe, says the Russian ruble is set to rise further against the dollar and euro this year
EIIB launches Islamic money-market instrument
LONDON – The European Islamic Investment Bank (EIIB) has begun accepting funds under Wakala placements, following approval by the Financial Services Authority (FSA) in the UK.
CME, Reuters finalise FXMarketSpace
CHICAGO & LONDON – The Chicago Mercantile Exchange (CME) and Reuters are making final preparations for the launch of their joint-venture platform, FXMarketSpace.
Dresdner exodus continues in forex
LONDON – The exodus from Dresdner Kleinwort's foreign exchange business continued last week, with three departures hitting the institutional FX sales desk, and one each from FX options and spot FX trading in London.
BoT closes NDF trading loophole
BANGKOK – The Bank of Thailand (BoT) has again intervened in the FX markets, by ordering banks not to trade non-deliverable forwards (NDF) with foreign counterparties.
Tradition hires five in inflation, new desk head
EUROPE – Interdealer broker Tradition has added to its inflation team across Europe and appointed a new desk head, John Cullen.
...and CS loses two in trading
NEW YORK – Credit Suisse has lost two spot traders in New York, and reorganised its fixed-income business.
Goldman loses two in FX sales...
LONDON – Goldman Sachs has lost two staff from its institutional FX sales business in London.
FinIQ rolls out DCD white-label
SINGAPORE – Technology vendor FinIQ has released a white-label version of its structured deposit pricing and processing system for dual currency deposits (DCD) distribution.
RBC subscribes to Ffastfill for CME forex service
CHICAGO & LONDON – Software vendor Ffastfill has signed on RBC Capital Markets for its CME FX on Reuters application service. The service gives direct access to CME's FX futures and options contracts. FFastfill, which was chosen by Reuters as the launch…
New platforms: ready, steady, go
And it's all systems go, literally. FXMarketSpace is very close to testing in a live environment, with final details being put in place. Meanwhile others, such as FXall's new anonymous trading platform, should have begun piloting by now.