News
Who's who on the exhibition floor?
FX Week gives a rundown of some of the top exhibitors at this year's event. Find out who's showcasing what, then see the box on the next page for your entertainment listings
UBS hit by base metal departures in London, NY
LONDON & NEW YORK – UBS is said to have suffered a blow to its base metals business with departures in London and New York.
Icap launches Aussie/Kiwi pair
LONDON – Interdealer broker Icap is going live with the Australian dollar (AUD) and Kiwi dollar (NZD) as a tradable pair today (April 30).
Banks still dominate market, report finds
BOSTON – Electronic trading may be expanding, but increased automation is failing to push major dealing banks from a dominant position in the FX market, according to a report released last week.
BarCap adds to Barx platform
LONDON – Barclays Capital has extended its suite of FX algorithmic trading services to include PowerFill Orders over its Barx platform.
Reuters to open up desktops, hailing radical new strategy
LONDON – Reuters is opening up the Dealing 3000 and 3000 Xtra desktops to rival platforms, in what signals a seismic shift in strategy for the electronic broker.
Reuters to open up desktops, hailing radical new strategy
LONDON – Reuters is opening up the Dealing 3000 and 3000 Xtra desktops to rival platforms, in what signals a seismic shift in strategy for the electronic broker.
ACM re-acquires ex-Refco shareholding
GENEVA – Geneva-based online currency trading platform ACM Markets has re-acquired the outstanding 768 of 3,000 shareholding, from the creditors of defunct futures broker Refco.
Commerzbank continues EM expansion
FRANKFURT – Commerzbank has re-hired Frank Berger as head of emerging markets FX forwards in Frankfurt, as it continues to expand its EM capabilities.
Clariden centralises forex pricing data
LONDON – Swiss private bank Clariden Leu has rolled out an FX pricing solution to centralise pricing and distribution of FX rates throughout the organisation.
Merrill reorg triggers forex hires
LONDON & NEW YORK – Merrill Lynch has made four hires in its FX options team, amid a reorganisation of its FX and local currency trading businesses.
Former FX salesperson sues BNP Paribas for discrimination
LONDON – A former FX salesperson at BNP Paribas, Katharina Tofeji, is suing the bank for £1.35 million ($2.7 million) on the grounds of sex discrimination, victimisation and constructive dismissal.
Continental shift for Reuters sales force
SINGAPORE, LONDON & NEW YORK – Electronic broker Reuters has realigned its sales force across three continents, to adapt to the evolving market-place.
Forex shuffle at London Citi
LONDON – Citi is undergoing changes at its FX team in London, with three departures and two hires.
Lehman Brothers expands e-FX capabilities
LONDON – Lehman Brothers is expanding its e-commerce capabilities, as part of the continued expansion of the bank's forex business.
Four ISE forex contracts go live
NEW YORK – Four FX options contracts began trading on the New York-based International Securities Exchange (ISE) last Tuesday (April 17).
Citi and Merrill post bullish results
NEW YORK – Citi and Merrill Lynch have posted record results for their fixed-income businesses, with FX playing a strong role. Merrill said record currency revenues helped revenues from the fixed-income, currencies and commodities division grow from…
Sterling breaches $2 barrier for first time in 15 years
LONDON – Only five banks predicted correctly that sterling would breach $2.00 in mid-April and be capped below $2.02, according to FX Week 's currency forecasts.
Cantor Fitzgerald rejects rival bid for eSpeed
LONDON – A takeover bid for electronic trading network eSpeed was rejected by majority owner Cantor Fitzgerald last week.
Saxo Bank hails record month
COPENHAGEN – Danish-based investment bank Saxo Bank saw a 12% rise in new-client acquisition in March over the previous month.
Merrill reorg triggers forex hires
LONDON & NEW YORK – Merrill Lynch has made four hires in its FX options team, amid a reorganisation of its FX and local currency trading businesses.
Marex hooks up with Accelor
LONDON – Independent brokerage Marex Financial has established connectivity to Accelor, FXall's new electronic communications network, enabling clients to trade over the platform.
Icap challenges Reuters with i-Forwards platform
GLOBAL – Interdealer broker Icap is taking on rival electronic forward FX broker Reuters, with the global rollout of i-Forwards, its electronic trading platform.