Articles by FX Markets Staff
Boost for Mexican derivatives
MEXICO CITY – The Mexican derivatives market is set for expansion, with foreign participants getting access to the Mexican Derivatives Exchange (MexDer) through BT Radianz.
Strong activity continues as dollar slides
GLOBAL – Last week again saw big moves in the major currency pairs as traders capitalised on a weaker dollar to make much-needed trading gains.
FXall in ruble push
MOSCOW – Multibank platform FXall has added five liquidity providing banks to bolster trading in the Russian ruble.
ASIA PACIFIC NEWS: ABN Amro pays $4.5m settlement in Vietnam forex trading case
HANOI – Dutch bank ABN Amro has paid $4.5 million to police to settle a dispute over allegations by the Vietnamese government that its traders broke FX trading regulations.
Asia focus for Bank Julius Baer
ZURICH & SINGAPORE – Bank Julius Baer is understood to be transferring Fred Etheart from Zurich to Singapore, where he will develop an institutional foreign exchange sales desk.
Citigroup and GSB sign memo of understanding
BANGKOK – Government Savings Bank (GSB), Thailand's state bank, has signed a memorandum of understanding with Citigroup in Thailand to start an international banking business that will launch in the first part of next year.
Icap switches voice brokers
LONDON – Icap is moving resources from the major currencies into emerging markets, as the interdealer broker acts to reflect the changed FX landscape.
Relief for traders as volatility returns
LONDON – Last week saw unexpectedly large moves in the dollar/yen and euro/dollar as traders welcomed a pre-Christmas build-up in volatility after a year of flat markets.
Citi forms FICC group
NEW YORK – Citigroup has merged its global fixed income and emerging markets businesses to establish a new global fixed income, currencies and commodities (FICC) group.
BarCap joins LiquidityHub
NEW YORK – Barclays Capital (BarCap) has joined the LiquidityHub bank consortium, which plans to aggregate liquidity and market data for electronic trading, for their clients.
Dow Jones launches daily report
NEW YORK – Dow Jones Newswires last week announced the launch of Tomorrow's News Today , a daily wrap-up of FX, fixed income and money markets.
ISE prepares FX options launch
NEW YORK – The International Securities Exchange (ISE) has begun publishing the underlying rates for its new ISE FX options, in preparation for launch next year.
EBS credited for 75% rise in e-broking revenues at Icap
LONDON – Spot broker EBS was largely behind a 75% rise in second-half electronic broking revenues at interdealer broker Icap, the broker said last week.
Margin trading – an untapped opportunity
Brian Maccaba , executive chairman of Cognotec, highlights the huge growth in web-based FX margin trading and argues that banks cannot afford to ignore the opportunities that this presents
US and UK regulators sign MoU to improve market surveillance
LONDON & WASHINGTON DC – The UK Financial Services Authority (FSA) and the US Commodity Futures Trading Commission (CFTC) signed a Memorandum of Understanding (MoU) to strengthen market communication oversight last week.
Relief for traders as volatility returns
LONDON – Last week saw unexpectedly large moves in the dollar/yen and euro/dollar as traders welcomed a pre-Christmas build-up in volatility after a year of flat markets.
Proportionate regulation is the key
The move by the US and UK regulators to work in closer co-operation can only be a good thing for the market as a whole.
RMB needs closer look, says HSBC
BEIJING – Foreigners should take a closer look at China's foreign exchange policies when considering the future of the renminbi, Hongbin Qu, chief economist for HSBC in Beijing told FX Week last week.
RBS expands emerging market capabilities
LONDON – Royal Bank of Scotland (RBS) is expanding its portfolio of emerging markets products, with plans to launch interest rate options and exotics.
Safe approves four banks to join forward market
BEIJING – China's State Administration of Foreign Exchange (Safe) has approved four new banks to join the interbank foreign exchange forward market.
Deutsche Bank adopts latest version of Reuters Messaging
FRANKFURT – Deutsche Bank is currently working on migrating to the upcoming version 6 of Reuters Messaging (RM), which is due for release next month, according to officials at the vendor.