Articles by FX Markets Staff
More fraud uncovered by CFTC
WASHINGTON, DC – The US Commodity Futures Trading Commission (CFTC) has settled a forex fraud action resulting in over $2.5 million in civil penalties.
Vietnam probe into ABN Amro traders widens
HANOI – Vietnamese authorities have increased uncertainty for all FX operations in the country by widening the criminal investigation into ABN Amro traders.
New Xinhua rules intercept foreign news
BEIJING – Xinhua News Agency, the Chinese government-controlled information service, has issued new rules designed to stop foreign competitors from working directly with their customers in China.
Mixed results for US banks
NEW YORK – Low volatility in currency markets provided a challenging third quarter for US investments banks, with a mixed bag of results released last week.
Risk survey recognises top derivatives players
LONDON – Tullet Prebon, UBS, Deutsche Bank, and Royal Bank of Scotland (RBS) shared the spoils in the currency category of FX Week sister publication Risk’s 2006 interdealer survey.
FXall sees strong take-up on MM platform
LONDON – More than 65 institutions have participated on the FXall money markets platform since it was launched in June, the platform said last week.
Senior hires at FXMarketSpace
LONDON – FXMarketSpace, the centrally cleared forex market-place established by Reuters and the Chicago Mercantile Exchange (CME), has made four senior hires to its global management team.
Maintain a long Swiss franc exposure
Todd Elmer, currency strategist at Citigroup in New York, predicts an upturn in Swiss franc fortunes, and advises directional trades on EUR/CHF
A capital adventure
Michael Spencer tells FX Week about how he turned Icap from a four-man business into a £3 billion FTSE 100-listed powerhouse in 20 years, and about his plans for EBS
Old news set to leave China behind
China’s plans to delay the information flow from foreign news agencies by filtering it through Xinhua news agency is worrying, and it is likely to be counterproductive.
Merrill Lynch swoops on top Dresdner Kleinwort trio
LONDON – Merrill Lynch raided Dresdner Kleinwort last Thursday to take the bank’s most senior foreign exchange personnel.
Bank of Russia irks market over IMF investment
MOSCOW – The Bank of Russia invested around $257 billion into the world economy by the end of August, according to statistics from the IMF released last week.
Reuters’ system failure disrupts FX trading
ASIA – Reuters suffered a temporary systems failure in its currency matching system Reuters Dealing 3000 Matching Host, causing disruption to trading in Asian hours last Friday. The outage acted as a firm reminder of the competitive landscape for…
FXall boosts global team
GLOBAL – Multibank platform FXall has made six new hires and two promotions on three continents in an aggressive push in sales and client services.
Bear adds more in London
LONDON – Bear Stearns has made two new additions to its London forex desk, in what continues to be an aggressive year of hiring at the US investment bank.
Reuters’ system failure disrupts FX trading
ASIA – Reuters suffered a temporary systems failure in its currency matching system Reuters Dealing 3000 Matching Host, causing disruption to trading in Asian hours last Friday. The outage acted as a firm reminder of the competitive landscape for…
Barclays Capital continues global build-up
NEW YORK – Barclays Capital (BarCap) has made two senior hires to its US operations, as it continues to expand its global FX franchise.
ABN Amro rebuilds Swedish desk in London
LONDON – ABN Amro has re-established its multi-product Swedish coverage desk in London, as it continues to hub sales and trading in the city.
Sammann resurfaces at CME
CHICAGO – Derek Sammann, former managing director and global head of FX options and structured products at Calyon, has resurfaced at the Chicago Mercantile Exchange (CME).
Saxo Bank continues hiring spree
LONDON – Saxo Bank has made another series of hires as it continues to beef up its London operations.
FNX launches margin trading and client management solution
PHILADELPHIA – Trading technology vendor FNX has rolled out Cayman, a real-time FX and cross-asset solution designed for high-volume margin trading and client management.
Strategists in demand
GLOBAL – Forex strategists are en vogue this month, with a number of hires at major banks in the US and Europe.