Investment
Nothing beats a good trading scandal
The past week has produced a frenzy of headlines, from the FTSE index hitting seven-year lows and the Federal Reserve's surprise 75 basis point rate cut, to the billions of dollars in writedowns at major dealers. But nothing grabs the attention as much…
Saxo Bank sells 5% stake for $92m
COPENHAGEN, LISBON & LONDON - Espirito Santo Financial Group (ESFG) and subsidiary Banco Espirito Santo Group (BESG) have bought a 5% shareholding in Saxo Bank, in a move to expand the bank's electronic capabilities.
Seeking a sterling collapse
By Pete Luxton, global markets adviser, and Dave Willmer, foreign exchange options market strategist, at Informa Global Markets in London
Carrying a mixed bag
Analysts polled by FX Week reveal an industry split on the sustainability of resurging risk appetite and the future of yen-based carry trades. Compiled by Wendy Mock
UBS launches Greenhouse Index
LONDON - UBS is set to launch UBS Greenhouse Index (UBS-GHI), a tradable investment benchmark tracking a combination of weather futures and greenhouse gas emissions credits, on January 23.
There's nothing as certain as change
Happy New Year! As we enter 2008, one thing is for certain - the evolution of the foreign exchange industry continues at an unprecedented rate.
Icap follows new pricing model for EBS
LONDON - Interdealer broker Icap is introducing a volume-based pricing model for electronic spot broking system EBS, as it evolves to fit the changing landscape.
Retail sets the pace for future of forex
LONDON - The retail market is likely to set the standard for the future of foreign exchange, said panelists at the FX Week Europe conference last Tuesday.
How to prepare for reduced volatility
In the aftermath of credit-related market turmoil, Neil Mellor, currency strategist at The Bank of New York Mellon in London, suggests a way to prepare for a return to more historically typical levels of volatility
European dealers post record FX results
ZURICH & FRANKFURT – Losses linked to the credit crisis have overshadowed what has been a bumper third quarter for foreign exchange dealers, according to results released last week.
Saxo and JDFX offer risk management online
COPENHAGEN & ZURICH – Saxo Bank and Zurich-based foreign exchange trading company JDFX are today releasing Meta RMS, a risk management software package within JDFX’s online trading front end, MetaTrader.
Reversal of fortunes for Parker FX
STAMFORD, CT – The Parker FX index reported a return of 1.40% in September, with managers benefiting from a declining greenback.
Carry strategies are thriving in Asia
SINGAPORE - Carry models have proliferated in Asia as alpha-generating strategies over the past four years, according to Thomas Harr, senior FX strategist at Standard Chartered in Singapore.
Asian corporates hungry for new FX products
SINGAPORE - Asian corporates typically have a bigger appetite for new and innovative structured FX products than their European counterparts, according to Selene Chong, head of FX structuring at HSBC in Hong Kong, speaking at the FX Week Asia congress in…
Market innovation threatens platforms
SINGAPORE - Growth in the Asian FX market is leading to big operational changes in the way buy- and sell-side institutions do business, according to Justyn Trenner, chief executive at market research company ClientKnowledge.
StanChart hires ex-Deutsche head
SINGAPORE - Standard Chartered is continuing its assault on foreign exchange and interest rates with a key hire in Singapore.
Deutsche signs record sharia collar trade
DUBAI - Deutsche Bank has closed the largest Islamic profit-rate collar to date, for Dubai Islamic Bank (DIB).
The true cost of pre-settlement netting
As the industry comes to terms with the fact that banks have begun pre-settlement netting, conversation is moving to the implications this has for the smaller of the 57 CLS member banks.
Is the dollar dross?
Pete Luxton, global markets adviser, and Shant Movsesian, FX options manager, at Informa Global Markets in London, seek ways to benefit from the flagging US dollar
Global FX trading up 71%
BASEL - The huge growth in daily turnover in the global foreign exchange market, revealed in the Bank for International Settlements' (BIS) triennial foreign exchange survey last week, continues to solidify FX as an asset class.
Lehman launches quant platform for currencies
LONDON - Lehman Brothers has launched the Macro Quantitative Currency Strategies platform (MarQCuS), an investable product enabling investors to access quantitative foreign exchange strategies.