FX Markets - VOL 14 No 5
Articles in this issue
Hungary: when the funds go marching in
The Hungarian forint’s peg should be scrapped before another speculative attack on the currency, say Marios Maratheftis and David Mann, economists at Standard Chartered Bank in London
New US laws could hit retail market
NEW YORK -- New laws being drawn up by US regulators could hit volumes in the US retail FX market, officials said last week.
Trading places
Commerz names head of options
Intervention risk looms
LONDON -- As the US prepares to invade Iraq, FX dealers could soon be facing their own battle against central banks.
Tech briefs
New FXall interface
TD Securities sets up London options desk
LONDON -- Toronto Dominion Securities has bucked a trend among Canadian banks by setting up a European options trading desk in London. The bank completed a restructure of its FX options business to focus on European clients from the City, said Cliff…
Egypt floats pound
CAIRO -- The Egyptian pound remained stable last week at 5.41 per dollar after it was freely floated for the first time last Wednesday (January 29).
Shift in risk sentiment shores up Australian options market
SYDNEY -- A change in risk sentiment, coupled with major underlying spot moves in local currencies, is bringing extra FX options business to Australia, according to local dealers.
Amex Bank’s FX revenues rising
BOSTON -- American Express Bank last week announced an uptick in its FX revenues for 2002. Amex reported foreign exchange income and other, undefined, trading revenues for full-year 2002 of $170 million, up 18% from $144 million in 2001.
Bank Julius Baer reshuffles for cross-product FX drive
ZURICH -- Bank Julius Baer reorganised its trading and sales businesses in January to foster greater cross product co-operation, Mark Linnan, global head of trading at the bank in Zurich, told FX Week .
Venezuela eyes fixed rate for the bolivar
CARACAS -- Venezuelan foreign exchange markets were closed last week, but a plan has been hatched to stabilise the bolivar.
Market stumped on BoJ plans to replace governor
TOKYO -- Masaru Hayami, governor of the Bank of Japan (BoJ), completes his four-year tenure at the start of April, but candidates to replace him in one of the most prestigious jobs in central banking are few.
Mystery vendor asks $29,000 for FX Connect domain name
LONDON -- The internet domain name FXconnect.com was briefly up for sale last week -- but confusion reigns over who may have bought it.
Barclays merges FX/FI prime brokerage
LONDON -- Barclays Capital will complete the merger of its FX and fixed-income prime brokerage businesses by the end of March, a senior official told FX Week .
New Fimat platform targets exchange clients
PARIS -- Fimat Group, the brokerage arm of French investment bank SG, will launch an online FX dealing platform this week in a bid to snare clients from major futures exchanges.
SuperDerivatives adds benchmarking tool
LONDON -- UK forex options pricing vendor SuperDerivatives last week announced the launch of a new buy-side interface for its benchmark FX options model. The firm hopes the move will encourage more buy-side users to price and use options to hedge their…
