Investment
Indonesia bans FX derivatives
JAKARTA - Indonesia's central bank moved to curb speculation on the rupiah last week, by banning banks from making loans for derivatives transactions. The regulations went into effect last Tuesday (December 16).
All change for Citi's structured products team
LONDON - Citi has announced a host of changes to its structured products business, including the appointment of Jean-Luc Bernardi as head of structuring for Europe, the Middle East and Asia (EMEA).
Risk reversals slowing down
LONDON - Risk reversals on emerging market currencies indicate a reduction in the magnitude of the sell-off compared with that over the past six months, according to Barclays Capital.
HSBC offers Islamic FX options in London
LONDON - HSBC is now dealing in sharia-compliant plain vanilla foreign exchange options from London, in response to growing global demand for the product.
Retail FX benefits as traders go DIY
LONDON - The retail foreign exchange revolution could benefit from reduced headcounts within the financial services industry, according to Mark Davison, vice-president of pro-sales at Forex Capital Markets (FXCM).
UBS shines as CLS provider during turmoil
UBS took home the accolade for the best third-party CLS provider, in a year that has tested the model's basic premise.
Value managers come up trumps in October
LONDON - Currency managers using the value strategy are likely to have fared well in October, a month described as one of the most volatile in history, according to research by the Royal Bank of Scotland.
A call to action on electronic pricing
The protracted explosion in bid/ask spreads and implosion in liquidity since mid-September is causing mounting frustration among algorithmic traders.
RBS sells e5m note linked to new FX Radar
LONDON - Royal Bank of Scotland (RBS) has sold its first structured product linked to the new FX Radar Index, an automated index linked to 20 emerging market currencies.
Harsh climate suits Aus FX
SYDNEY - Australian foreign exchange dealers expect to continue benefiting from increased deleveraging and client hedging activities seen since September.
Calls on low yielders overpriced
GLOBAL - Dealers report an overpricing on calls in low-yielding currencies, as investors move into less risky assets.
BNP Paribas ups the ante in forex
LONDON - BNP Paribas plans to roll out a new foreign exchange trading platform to select clients by the end of the year, in a bid to grow its presence in FX.
Monier: Markets feel structural shift
SINGAPORE - "We might be entering more of a structural shift than just another crisis," said Stephane Monier, global head of fixed income and currencies at Fortis Investments, at the FX Week Asia Congress last week.
A return to vanilla
GLOBAL - Banks are preparing for a vanilla year next year in the derivatives market, as investors seek transparent structures in an environment of heightened volatility and inconsistent liquidity.