Currency Derivatives
Further boost for Asian forex volumes
HONG KONG – Asia’s forex markets will continue to see strong activity this year as more participants pile into the asset class.
BIS paints bright future for FX
BASEL – The huge growth in daily turnover in the global foreign exchange market, revealed in the Bank for International Settlements’ (BIS) triennial FX survey last week, has painted a bright future ahead for forex market participants.
NDFs for a company with operations in China
Clients based in one country with manufacturing bases in another are exposed to risk if the country of production’s currency appreciates. Here, Ashish Advani, director, risk solutions at Travelex in London, proposes a solution that hedges the risk using…
Protecting speculative trade management positions
Some clients will have specific views on the future movements of currencies to which they have exposure. UBS's global FX solutions group shows how barrier strategies can be used to limit risk on these positions
Rivals gear up for FX clearing
LONDON – The stage is set for a central counterparty clearing (CCP) system for FX as two potential providers moved their plans forward last week.
Kemp takes FX helm at Merrill
NEW YORK – Morgan Stanley FX chief Stephen Kemp is set to take on the continued build-up of Merrill Lynch’s forex business, following the resignation of co-head of global FX and rates Michael DeSa.
Banks add NDFs to e-trading tools
LONDON -- Royal Bank of Scotland, Barclays Capital and Standard Chartered are planning to launch electronic trading of non-deliverable forwards (NDFs) this year, chasing market leaders in the field such as Dresdner Kleinwort Wasserstein and Deutsche Bank.
HBOS profits up 10% on corporate growth
EDINBURGH -- HBOS Treasury Services had a successful year in forex, with FX profits rising by about 10% year-on-year for 2003, a senior official told FX Week .
Reuters to launch FX swaps
LONDON -- Reuters is to expand its foreign exchange product range by launching FX swaps on its Reuters Dealing 3000 matching platform next month, a senior official said last week.
Korean regulations to keep won stable
SEOUL -- Analysts are forecasting more near-term stability for the Korean won, after the South Korean Ministry of Finance and Economics (Mofe) last week introduced regulations aimed at limiting activity in the non-deliverable forwards (NDF) market by…
StanChart continues FX build-up in Africa
LUSAKA -- Standard Chartered sold its first Zambian kwacha FX options in October, as part of its continued forex build-up in Africa, senior officials told FX Week .
New era dawns for FX data
NEW YORK -- A new era in FX data is on its way, as the continuous-linked settlement service (CLS) for forex prepares to sell its market data back to users early next year.
Lehman Brothers continues forex hiring drive in London
LONDON -- Lehman Brothers has hired nine forex staff in London in the past three months as part of its continued FX build-up. Two more -- including global head of FX Grant Whiteside -- have transferred to the City from New York, as the bank pursues a …
Reuters FX under threat EBS-Bloomberg forex alliance prompts defiant response from UK firm
LONDON -- Reuters was last week fighting back to secure its position in FX, following the announcement of an alliance between two rivals.
Dollar bloc upsurge boosts Australian forex turnover
SYDNEY -- Increasing interest in Australian dollar trading is boosting Australian banks’ forex turnover, senior market participants told FX Week .
Asian forex still untapped
SINAGPORE -- Five years on from the Asian financial crisis, FX trading opportunities in the region remain largely untapped, market participants told FX Week .
Goldman's plan pays off
NEW YORK -- Goldman Sachs’ five year investment in foreign exchange is paying off, according to US banks’ financial results published last week.
Reuters reasserts forex dominance
UK trading technology and information firm Reuters may be having a difficult year, but its forex business is booming, according to FX Week ’s 2002 survey.
Upsurge in German forex
FRANKFURT -- Deregulation of the German insurance market is attracting the world's top investment banks to expand in Frankfurt.