News
Currenex ties up with TwoFour
Software vendor TwoFour Systems has linked up with multi-bank portal Currenex to enable clients to consolidate positions across all transactions.
Rabobank becomes EBS Prime bank
LONDON – Rabobank has become the latest institution to join spot broker EBS’ Prime initiative as a prime bank.
SwapsWire for Nordea
Swedish bank Nordea has started using electronic confirmation system SwapsWire to confirm its OTC interest rate derivatives trades.
New talent thin on the ground
LONDON – Banks are struggling to attract junior FX derivatives staff according to banks and headhunters.
FX Week Asia approaching fast
Time is running out to book for the second FX Week Asia conference being held in Singapore on October 17. There will be a number of high-profile speakers, including Michael Bass, global head of rates and FX at Standard Chartered Bank, who will give the…
Hat-trick for Patsystems in Singapore
Three institutions in Singapore have bought trading technology from software vendor Patsystems.
Bank of America adds to ETS
Bank of America is enhancing its suite of e-trading capabilities to include live options execution, improved pricing and risk management among other new features.
CME names first market-makers for Korea futures contracts
SEOUL – The Chicago Mercantile Exchange (CME) has announced the selection of five banks as the first market-makers for CME Korean won futures contracts.
Morgan Stanley held back by poor Q3 currencies and interest rates results
NEW YORK – Third quarter results from fixed-income trading and sales at Morgan Stanley were held back by weak performance in currencies and interest rates, according to results released last week.
e-Mid opens to Turkey
ISTANBUL – Interbank deposit market e-Mid is to open to Turkish banks, in a bid to drive revenues and access more liquidity from this rapidly developing market.
SG CIB realigns FX business
LONDON & PARIS – SG Corporate and Investment Banking (SG CIB) plans to realign its foreign exchange business within a new fixed income, currencies and commodities division early next year.
Bloomberg revamps FX Dealing system
NEW YORK – Data and trading technology vendor Bloomberg has released a revamped version of its single and multibank request-for-quote (RFQ) system, FX Dealing.
First OTC rouble basket deal
LONDON – Interdealer broker GFI has completed the first interbank over-the-counter rouble basket trade. The six-month trade has a notional value of $100 million, with an at-the-money forward strike price of 29.70. The weighted ratio was 60% dollar, 40%…
Cuts follow ABN Amro research merger
LONDON – ABN Amro has merged its FX, credit, rates, strategy and economic research into one global team, resulting in at least seven redundancies.
Tullett Prebon benefits from market volatility
LONDON – First half results at Tullett Prebon benefited from volatile market conditions in FX, interest rate derivatives and energy, according to the interdealer’s interim report released last week.
Thailand coup makes little impact on baht
BANGKOK – Last week’s military coup in Thailand is unlikely to have a lasting impact on the baht, according to analysts in the region.
Hungarian riots fail to dent market
Political turmoil in the Hungarian capital produced sharp moves in the forint last week, but the currency remains relatively stable as the prime minister held onto power.
Bank of Russia irks market over IMF investment
MOSCOW – The Bank of Russia invested around $257 billion into the world economy by the end of August, according to statistics from the IMF released last week.
Senior hires at FXMarketSpace
LONDON – FXMarketSpace, the centrally cleared forex market-place established by Reuters and the Chicago Mercantile Exchange (CME), has made four senior hires to its global management team.
FXall sees strong take-up on MM platform
LONDON – More than 65 institutions have participated on the FXall money markets platform since it was launched in June, the platform said last week.
Risk survey recognises top derivatives players
LONDON – Tullet Prebon, UBS, Deutsche Bank, and Royal Bank of Scotland (RBS) shared the spoils in the currency category of FX Week sister publication Risk’s 2006 interdealer survey.
Mixed results for US banks
NEW YORK – Low volatility in currency markets provided a challenging third quarter for US investments banks, with a mixed bag of results released last week.
New Xinhua rules intercept foreign news
BEIJING – Xinhua News Agency, the Chinese government-controlled information service, has issued new rules designed to stop foreign competitors from working directly with their customers in China.