Articles by FX Markets Staff
India's RBI to allow OTC FX options
MUMBAI - The Reserve Bank of India (RBI) released draft proposals on November 12 that will allow importers and exporters to write over-the-counter forex options contracts, in response to calls by banks and industry bodies.
Industry reaffirms CLS as FX data repository
NEW YORK - The foreign exchange industry has reaffirmed industry utility CLS Bank as the FX trade data repository, as US and European authorities push to introduce similar facilities in the derivatives market.
Bank of East Asia signs on to GFI's Fenics Enterprise
SINGAPORE - Bank of East Asia (BEA) has deployed GFI's Fenics Enterprise for the pricing and analysis of retail dual currency products.
Celent report: financial firms' IT spending on the rise
MONTREAL - Despite the economic decline, absolute spending figures in information technology are set to rebound globally, according to Jacob Jegher, author of the Celent report: IT spending in financial services: A global perspective .
Diode decoupling
While there is increasing optimism about the global economy's rebound, the growth story is fractured. Asia - especially China but also South Korea, among others - is seeing strong growth while Western economies lag, says Paul Mortimer-Lee, strategist at…
Bo Li returns to BoA Merrill Lynch
HONG KONG - Bank of America (BoA) Merrill Lynch has appointed Bo Li from Standard Chartered in Hong Kong, to head north Asia institutional foreign exchange sales, according to market sources.
Concerns raised over CCPs
NEW YORK - Various attendees raised concerns about central clearing at Risk USA in New York - with JP Morgan's chief risk officer even pointing to it as a possible source of the next financial crisis.
RBI builds currency futures
MUMBAI - The Reserve Bank of India (RBI) plans to extend the list of currency futures traded on the country's exchanges, as part of efforts to grow the risk management tools available in the local market.
The central clearing backlash continues
As the foreign exchange industry continues to get its house in order to prevent any undue regulatory scrutiny, cracks persist in the arguments extolling the virtues of central clearing facilities.
StanChart open all hours for GCC currencies
DUBAI - Standard Chartered has extended its online coverage of Gulf Co-operation Council (GCC) currencies to 24 hours daily from Monday to Friday, to match client demand.
State St case puts FX deals under scrutiny
LONDON & NEW YORK - Banks will come under increased pressure to provide greater transparency on foreign exchange transactions, following the California state attorney-general's FX fraud lawsuit against State Street, according to market participants.
JP Morgan names EMEA head
LONDON - JP Morgan has named a new head of Europe, the Middle East and Africa (EMEA) in London, market sources tell FX Week .
Ipam banned for audit failures
WASHINGTON, DC - The US National Futures Association (NFA) banned Orlando-based introducing broker Income Plus Asset Management (Ipam) from NFA membership on October 28, after it failed to comply with a regulatory audit.
Budenberg appointed UKFI CEO
LONDON - Former UBS banker Robin Budenberg has been appointed chief executive of UK Financial Investments, the body established to manage the UK government's investments in financial institutions including the Royal Bank of Scotland (RBS), Lloyds TSB and…
SunGard upgrades Front Arena
LONDON - SunGard is this week (March 12) launching a new version of its FX and money markets supporting cross-asset trading system, Front Arena.