FX Markets - Vol 19 No 8
Articles in this issue
Harnessing the future
Standard Chartered's decision to launch a quant academy programme is further evidence of banks putting more resources in developing the markets through human capital.
Banks and hedge funds spur growth in OIS trading
LONDON & NEW YORK - Central bank activity has contributed towards a surge in trading overnight index swaps (OIS) over the past year, according to dealers.
Icap quells fears with positive Q2 results
LONDON - Interdealer broker Icap quelled fears over the future performance of its businesses last week, by reporting a 15% rise in second quarter revenues compared with the same period last year.
FIX Protocol encourages more buy-in from emerging markets
FIX Protocol Ltd (FPL) has launched a new membership category that aims to encourage firms located within emerging markets to join and become active participants within FPL.
Taratunio joins Bank of America
NEW YORK - Senior foreign exchange salesperson Gary Taratunio is heading to Bank of America (BoA) in New York, after leaving JP Morgan last month.
Logicscope and NCI release notification tool
LONDON - Post-trade technology vendors Logicscope and NCI have entered an agreement to integrate elements of both companies' software to release a trade notification solution to end-user clients of banks, brokers and trading platforms.
Retail platforms in currency expansion
NEW YORK - Online FX trading companies CMS Forex and FXCM have added new currencies to their trading platforms, allowing retail traders to trade in emerging market currencies.
Taiwan banks accuracy warning
TAIPEI - The Taiwanese monetary authority issued a circular to banks last week warning dealers to ensure the necessary paper work is accurately reviewed when executing currency forwards and non-deliverable forwards trades.
JP Morgan live on FXSettle
CHICAGO - JP Morgan has emerged as one of the three prime broking banks using settlement system FXSettle on trading platform FXMarketSpace (FXMS).
Will we ever move to a fee-based model?
The competition to gain retail clients and white-label partnerships by retail trading companies and vendors is leading to more creativity in service provision.
Lloyds TSB expands forex solutions team
LONDON - Lloyds TSB Corporate Markets has made four hires in its corporate and institutional foreign exchange solutions team in London, as part of a continued effort to expand its risk solutions service.
Gray decamps from Saxo Bank
LONDON - Saxo Bank has lost its senior manager in institutional sales in London, the Copenhagen-based dealer has confirmed with FX Week .
Barclays Capital rises above credit crisis
LONDON - Barclays Capital released solid full-year results last week, as banks across mainland Europe posted results tarnished by the effects of the credit crisis.
FX head quits Credit Suisse
LONDON - Credit Suisse has lost its head of UK foreign exchange sales, the Swiss dealer has confirmed.
Riding the US recession
Adam Cole, global head of foreign exchange strategy at RBC Capital Markets in London, evaluates the prospects of a US dollar recovery amid a US recession
StanChart launches quant academy to crack market
LONDON & SINGAPORE - Standard Chartered is boosting its quantitative skills base through a new quant academy programme.
Deutsche offers CRI-linked auto-callables
LONDON - Deutsche Bank is now selling auto-callable and target redemption notes linked to its Currency Return Index (CRI).
Icap suspends interbank FX forwards and swaps pricing in mainland China
LONDON & SHANGHAI - Icap stopped quoting forwards and swaps in the Chinese interbank market through its local joint venture last week, due to a lack of regulatory clarity.
Kerviel acted alone - SG report finding
PARIS - The Société Générale (SG) investigation into rogue trader Jérome Kerviel has found no evidence of an accomplice, but criticises the bank's oversight teams for failing to take the initiative in following up 93 alerts triggered by his unauthorised…
UBS receives India banking go-ahead
MUMBAI - UBS joined an elite pool of foreign banks to receive an Indian banking licence last Monday (Feb 18) from the Reserve Bank of India.
Letter to the Editor
I read your comments regarding our acquisition of FX Solutions (published February 11) and just wanted to make a couple of comments.
BarCap rides the commodities surge
Barclays Capital topped the one-month currency forecast rankings this week by calling for a weaker dollar off the back of surging oil prices.
Another good quarter for FX
BOSTON & NEW YORK - US dealers posted record second-quarter revenues from foreign exchange business, as volatility remained high over the period.
Mifid compliance: a matter of principles
Since the EU's Markets in Financial Instruments Directive (Mifid) went into effect on November 1, 2007, financial firms have been racing to implement principles-based regulation to remain compliant and competitive. With various EU members in different…
ANZ sets sights on north-east Asia
HONG KONG - ANZ has expanded its Hong Kong office to create a new regional hub for its capital markets business and foreign exchange operations across north-east Asia, officials tell FX Week .
Thomson gets go-ahead for purchase of Reuters
LONDON & STAMFORD, CT - Thomson Corporation received approval from the European Commission, US Department of Justice and Canadian Competition Bureau to acquire Reuters last Tuesday (February 19).
Deutsche ETN yields top returns
NEW YORK - Deutsche Bank's Australian dollar currency exchange-traded note (ETN) has generated the highest three-month returns among those surveyed by FX Week , at 7.86% as of July 17.
Dollar view pays off for Gain Capital
A bullish dollar view based on recent US rate cuts has seen Gain Capital take pole position in this week's one-month currency forecasts rankings.
Bringing it home
Naomi Fink, Japan strategist in global markets sales and trading at the Bank of Tokyo Mitsubishi UFJ says tax breaks in Japan won't be enough to encourage Japanese investors to repatriate their Brazilian profits to the country
Korea relaxes won NDF rules
SEOUL - Plans by South Korean officials to ease restrictions on won non-deliverable forwards (NDF) trading could shift speculative trading onshore, say traders.
