News
FX Invest Europe: Developed market currencies still important despite EM buzz
The recovery of major economies will be crucial to the profitability of FX markets, despite the greater returns to be generated from emerging market currencies, according to conference speakers
FX Invest Europe: Investors back away from complex trades to avoid regulation
Some buy-side participants are moving away from complex FX options due to the uncertainty of forthcoming clearing and exchange trading regulations in the US and Europe, according to conference speakers
Central bank's credibility was vital to introducing minimum rate, says SNB’s Schlegel
The decision by the Swiss central bank to introduce a minimum rate to the euro last September was possible because of the SNB’s credibility, says the central bank’s head of foreign exchange and gold
Banks welcome Tradition-Icap’s volatility fix
The daily fix could pave the way to the creation of new volatility-based derivatives, say participants
US dollar emerging from the woods, says SLJ Macro Partners
Weighing up the net effect of a negative outlook in the eurozone with positive growth signs in the US, Stephen Jen favours the US dollar
Buy the Indian rupee, says State Street Global Advisors
Having been bearish on the rupee for several years, the firm's head of currency management has become more positive in recent months, and now rates the currency as a top EM bet
Exploit relative-value opportunities in EM currencies, says Investec
Turkish lira versus the Israeli shekel is a favourite relative-value play for Thanos Papasavvas, fixed-income and currency strategist at Investec Asset Management
Trading places, February 27, 2012
New appointments at Citi, MarketPrizm and ING Investment Management
Margin rules for uncleared FX rest with regulatory working groups
Regulators must adopt a calibrated approach to mandated collateral so that short-dated FX swaps and forwards are not caught up in the rules unnecessarily, argue market participants
UK banks ramp up RMB resources in London
Both RBS and HSBC have made senior appointments to prepare for the growth of renminbi in London. The new business heads talk to Chiara Albanese about their priorities
Digital Vega debuts Traiana’s updated credit and risk service
Post-trade technology provider Traiana has this week launched a new version of Harmony CreditLink to support FX derivatives, with Digital Vega's Medusa the first platform to roll it out
Aussie dollar is overvalued, says UBS Asset Management
Despite the strong performance of the Australian economy, the Aussie dollar is overvalued to "an extreme level", according to Jonathan Davies
Buy US dollar rather than EM currencies as a euro alternative, says Schroders
Clive Dennis, head of currencies at Schroders, doesn't share the widespread enthusiasm for EM currencies and recommends investors should buy the dollar as an alternative to the euro
Greek deal brings early signs of calm in spot and options
Options traders say markets are reflecting a more relaxed view on the euro than in previous months, particularly following this week's Greek rescue package
LTRO has jump-started currency investors out of risk aversion, says Pimco
Currency investors appear to have moved away from risk aversion and become more interested in high-yielding EM currencies as a result of the ECB’s refinancing operation, according to Pimco’s head of FX
SEB recruits Nordea trader
Ida Svensson will be based in Stockholm, trading the Norwegian krone
Barclays Wealth recruits UBS veteran to head FX
Julian Wantling will join the wealth management firm in London
FX markets driven excessively by 'headline noise', says Aviva’s currency chief
Volatility in foreign exchange markets has been driven increasingly by a desire to re-price on the back of every headline, says Pierre Lequeux, head of currency management at Aviva Investors
DealHub expands in London with two hires
Nick de Smith and Mark Marston join the vendor from Rab Capital and Thomson Reuters respectively
Saxo takes mobile trading to new heights
Danish bank engineers the execution of a eurodollar trade on a mobile device during a base jump, as part of a new advertising campaign
Repositories must capture network analysis, says financial stability expert
Financial network analysis can be used to help regulators digest and understand the ‘data tsunami’ in the foreign exchange market, according to Kimmo Soramäki
Trading places, February 20, 2012
Appointments at MarketAxess, Esma, Iosco and the WMBAA
Commerzbank taps smartTrade for liquidity management
The new technology creates a single liquidity pool at Commerzbank, with internal matching engines, external routing and execution, as well as clearing, settlement and pricing functionality
Singapore’s FX exemption welcomed as a sign of global consistency
A proposal by the Monetary Authority of Singapore to exempt FX swaps and forwards from mandatory clearing is seen as a positive move to harmonise treatment of FX with the US