News
Japan institutional investors start unwinding dollar/yen hedge after steep yen drop
While foreign hedge funds have been driving down the value of the yen, now Japan insurers may strengthen the trend
FX Concepts moves execution to MarketFactory aggregator
New York-based currency hedge fund switched from Thomson Reuters to MarketFactory last month as it seeks to rationalise and simplify the process of aggregating liquidity
Trading places, February 4, 2013
Morgan Stanley hires in FX sales, while Legal & General unveils a management reshuffle
Increased risk appetite causes spike in relative value FX trades
Investors are turning to relative value trades to provide low-premium, guaranteed downside and good leverage to the upside, traders say
Traders prepare for HFT shift into emerging markets
Better infrastructure and deeper liquidity is attracting high-frequency traders to exploit EM currencies, say traders and technology providers
Currency managers up in December
Index of 43 managers makes minor gains as political uncertainties and accommodative pro-growth monetary policies drove FX trends
CME reports four days of record open interest in yen
Investors continue to pile into yen options to capture gains from further yen weakness
EMFX options head exits UBS in Asia
Manu Tripathi has left UBS in Singapore after less than a year as head of EMFX options for Asia
TraFXpure adds Nomura and BTMU ahead of launch
Tradition's new platform now has 11 founder members and has been renamed ParFX as it moves towards 'imminent' launch
Regulators divided over collateral exemption for FX
Delays to the WGMR’s final standards on margin are due in part to disagreements over the treatment of FX, while the Financial Stability Board has called for variation margin to be tackled by a separate standard-setting body
National Futures Association announces timeline for client fund reporting
Bank and trust company depositories to begin reporting end-of-day balances from February
ThinkForex registers under new Asic rules in move to target large accounts
Broker abandons lax registration in New Zealand to gain larger clients in Asia-Pacific
Fidelity Management and Research hires Hawes
Foreign exchange industry veteran joins the buy side
US volumes dive after Sandy hits FX survey data
Average daily FX volume fell again in the US, UK and Canada in October 2012, but the fall was sharpest in the US, partly due to the effects of Hurricane Sandy
Jefferies hires e-FX sales head
Former head of e-FX sales for the Americas joined Jefferies in New York last week to build out its e-FX business
Further exits at Morgan Stanley as US sales head departs
Thomas Haskins and Juha Sternberg have left the US bank in New York and London, as cuts continue to bite into the FX business
Bank of China (Hong Kong) designated as market maker for CME USD/CNH futures
Market maker named for CME offshore Chinese yuan futures set for launch in February
Senior salesman exits Deutsche
Former Morgan Stanley FX sales head leaves Deutsche Bank in New York
CME launches three-year CNH futures contract to meet dim sum bond hedging demand
CME to offer CNH futures from February 25; becomes second provider after HKEx launched CNH futures contract last September
LCH approved for client clearing on ForexClear
The clearing house expects to begin client clearing for FX NDFs during the first quarter, and has now surpassed $500 billion in cleared volume for interbank NDFs
Could FX volumes bounce back in 2013?
As the central bank FX committees prepare to publish their semi-annual turnover surveys today, trading volumes are expected to have remained depressed in October 2012, but many now expect a recovery in volumes this year
Exchanges converge on INR/USD futures to boost Indian rupee
This month's launch of Indian rupee futures on CME and Ice has been welcomed by traders as an important step in boosting liquidity in the currency
Trading places, January 28, 2013
New hires at SurfacExchange and EBS, while CFTC commissioner Jill Sommers steps down
Global margin standards face further delays
Proposals to collateralise non-centrally cleared derivatives could now be subject to further consultation and impact assessment, having missed the original end-of-2012 deadline