Articles by FX Markets Staff
Missing links in Korea and Taiwan
Mirza Baig and James Malcolm, FX researchers at Deutsche Bank in Singapore, examine the relationship between the Korean won’s surplus and changes in the Taiwanese dollar
Credit Suisse starts algorithmic trading
LONDON – Credit Suisse is developing multi-asset algorithms to complement its Advanced Execution Services (AES) suite of algorithmic trading capabilities, according to an official at the bank.
Bank of China broadens CLS horizons
HONG KONG & BEIJING – Bank of China (BoC) has become a shareholder in CLS Group, as the world’s largest emerging economy takes another step towards integration into global capital markets.
Students to trade forex, with a $10,000 prize
AUSTIN, Texas – Online forex platform GFT has set up a competition that pits students’ wits against a simulated FX market. The prize is $10,000 with which to trade on the real thing.
IBM offers bleak news for traders
LONDON – Nine out of 10 traders in the City of London will be out of a job in 2015, mainly because of the rise of algorithmic trading, according to an IBM white paper released last week. However, bank officials and analysts doubt the numbers.
CLS: a slow adopter, sticking fast
The move by CLS into China reflects well on the settlement system. The fact that the bank-owned utility spent more than two years diligently negotiating Bank of China’s (BoC) path to becoming a shareholder shows it is genuine about welcoming emerging…
Decoupling is key to Asian strength
Stephen Jen, head of currency research for Morgan Stanley, and Charles St-Arnaud, acting Asian currency strategist in London, say Asian currencies will strengthen once Asia decouples from the US
Cognotec moves into custody
SYDNEY – Technology vendor Cognotec this week launches a custody service that automates the forex component of securities transactions.
DK pulls digital plug
LONDON & FRANKFURT – Dresdner Kleinwort (DK) has culled its digital markets division, and Sean Park, the division’s head, will leave the bank this month, FX Week has learned.
The underrated value of a quiet market
History shows that times of strife produce the greatest technological innovations. The First World War hastened the use of aircraft as a practical technology rather than a hobby for the wealthy. The Second World War sped mankind’s journey into space and…
Hat-trick for Patsystems in Singapore
Three institutions in Singapore have bought trading technology from software vendor Patsystems.
FX Week Asia approaching fast
Time is running out to book for the second FX Week Asia conference being held in Singapore on October 17. There will be a number of high-profile speakers, including Michael Bass, global head of rates and FX at Standard Chartered Bank, who will give the…
New talent thin on the ground
LONDON – Banks are struggling to attract junior FX derivatives staff according to banks and headhunters.
SwapsWire for Nordea
Swedish bank Nordea has started using electronic confirmation system SwapsWire to confirm its OTC interest rate derivatives trades.
Rabobank becomes EBS Prime bank
LONDON – Rabobank has become the latest institution to join spot broker EBS’ Prime initiative as a prime bank.
Currenex ties up with TwoFour
Software vendor TwoFour Systems has linked up with multi-bank portal Currenex to enable clients to consolidate positions across all transactions.
Black clouds over the greenback
David Woo, head of global FX strategy at Barclays Capital in London, looks at the threats to the US dollar from Chinese trade and a weak housing market
High-pressure tactics earn Presidential fine
RICHMOND, VIRGINIA – A Virginia-based FX trading firm was fined last week after a judge found it was engaged in "high-pressure sales tactics".
LavaFX adds timeslice tool
NEW YORK – Electronic communications network (ECN) LavaFX introduced a timeslice tool to its platform last month.
FXMarketSpace builds Americas sales force
LONDON – Forex trading platform FXMarketSpace has appointed Phillip Harris as senior vice-president and head of sales, Americas, as it continues to add staff ahead of its launch.
Fundtech adds new modules
JERSEY CITY, NJ – Software vendor Fundtech introduced additional modules for its CLS settlement system, PAYplus for CLS, last week.
Safe to implement trial FX reforms in China
BEIJING – Chinese authorities last week approved the trial of FX reforms in a pilot project to be established in the northern financial district of Tianjin.