Derivatives
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…
Sentiment indexes gain importance
LONDON -- Traders and investors are increasingly looking to new market sentiment indexes to help them manage their positions in the currency markets.
The kick-knock solution for cable
Trevor Carr, manager in FX options at HBOS Treasury Services in London, suggests a creative solution for a UK parent company wanting to hedge against continuing sterling strength
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.
All eyes on the Middle East
Growing interest in Islamic banking, new technological developments and a wave of freshly repatriated money have put forex trading in the Middle East on the cusp of an exciting new era, reports Nikki Marmery
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.
Indian market opens up
MUMBAI -- Reform of India’s FX rules could create the next large emerging market, signalling a lucrative new area for banks to exploit.
Riding with the euro
A European client buying US dollars should consider a three-year swap to use the current euro strength to their advantage, says Pritpal Gill, head of structuring at Lehman Brothers in London
Aussie calls offer no worries hedge
Sara Sullivan, senior manager, FX options sales at ANZ Investment Bank in London, summarises an options solution for a corporate client concerned about a reversal of the AUD strength against the USD.
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.