Investment
Japan traders dump short yen positions
TOKYO - Japanese retail foreign exchange margin traders abandoned $16 billion worth of short yen positions within days last week, in a scramble to limit losses from unwinding carry trades.
Strike while the iron is hot
Pete Luxton, economic adviser, and Shant Movsesian, manager, foreign exchange options, at Informa Global Markets in London suggest a basket strategy to play euro weakness
RealStream Margin revamped
LONDON - Cognotec is set to roll out the latest version of its web-based margin trading system, RealStream Margin 3.0, in response to market demand for efficiency and enhanced risk management products.
Another FX trader fined
STOCKHOLM - Sweden's financial regulator has imposed a maximum penalty on Forex Bank for insufficient money laundering controls, signalling a global clampdown by regulators on risk management failings at retail foreign exchange institutions.
Currency strategies add value in September
LONDON - Currency managers employing value strategies are the most likely to have been rewarded by strong profits over the past 12 months, according to research by the Royal Bank of Scotland (RBS).
ETP boom fuels concern over counterparty risk
GLOBAL - Issuance of currency-linked exchange-traded products (ETPs) has soared in the past year, but concerns are emerging over the counterparty risks inherent in these products.
RBS launches new forex index
LONDON - RBS launched FX Radar Index, an automated index linked to 20 emerging market currencies, on October 1.
WisdomTree adds EM ETFs
NEW YORK - WisdomTree, a New York-based guarantor, is set to introduce 25 new currency exchange-traded funds (ETFs), with a focus on emerging market currencies, as it continues to deepen its footprint in this market.
EM currencies will weather the storm
LONDON - Analysts at Barings and State Street Global Advisors (SSgA) expect emerging market (EM) currencies to continue on a trajectory of strength, despite suffering bouts of weaknesses amid the current market turmoil.
Barclays launches forex trend index
LONDON - Barclays Capital launched the Barclays Adaptive FX Trend Index last week, the latest in its range of investable foreign exchange indexes.
OCBC cashes in on Asian DCR growth
SINGAPORE - OCBC Bank expects to see 20% growth in its dual currency returns (DCR) business in Singapore next year, following implementation of a structured deposit pricing and processing system from FinIQ, said bank officials.
Volatility pushes up prices for short-dated forex options
LONDON - Short-dated foreign exchange option prices have skyrocketed as liquidity in the derivatives market dried up amid turbulent market conditions last week.
What the Reauthorisation Act means for retail FX
Felix Shipkevich, general counsel at online FX trading company CMS Forex in New York, provides an overview of the US regulatory environment for retail FX brokers
The post-trade value chain
Nick Dyne, head of business development at post-trade technology vendor Logicscope in London, evaluates the prospect of a 'virtual' back office
Barclays Asian ETN gains $4.7m
NEW YORK - Barclays received $4.7 million worth of investment into its Asian currency-linked exchange-traded note (ETN) by September 9, five days after launch.
GTS Pro broadens range
LONDON - City Index will extend the list of tradable products on recently acquired retail foreign exchange trading platform GTS Pro for non-US customers in October, a senior official has told FX Week .
Retail FX broker suspended in Dubai
DUBAI - The Dubai Financial Services Authority (DFSA) imposed its first-ever sanctions against a foreign exchange broker last week, sending a warning to online brokers to maintain standards when operating retail FX businesses in the city.
Saxo suspends trading head
GENEVA - Saxo Bank has suspended Charles-Henri Sabet, global head of trading for the bank in Geneva.
OCL netting gets CLS-compliant
LONDON - Options Computer Limited (OCL) has launched a new version of its year-old pre-settlement netting tool that aims to manage back-office capacity constraints and cut messaging costs, while remaining CLS-compliant.
BoA in trans-Atlantic forex drive
LONDON & NEW YORK - Bank of America has bolstered its US and UK foreign exchange teams with newly created FX emerging market (EM) roles in New York and senior replacement hires in London.