News
Tullett starts e-delivering data
LONDON – Tullett Financial, the data sales arm of broking group Collins Stewart Tullett, has started delivering data over the internet in a bid to win more small clients.
ACI European Congress: exhibition preview
Delegates at the seventh ACI European Congress this week will have plenty to keep them busy, as vendors and banks line up a vast array of product demonstrations and promotions.
Hedge funds using more leverage, says Greenwich
Greenwich, CT – Almost a third of 36 hedge funds surveyed by research company Greenwich Associates increased their use of leverage in the past year.
Dresdner returns to Japan
TOKYO – Dresdner Kleinwort Wasserstein has re-launched FX sales in Tokyo after an absence of more than two years.
Congress rise slows Indian rupee ascent
MUMBAI – The success of the Congress Party in the recent Indian elections sent tremors through the FX market last week, and may have a longer-term negative impact on the world’s largest emerging currency market.
CLS is 'changing the front-office'
LONDON – The continuous-linked settlement (CLS) service for FX trades has changed credit and trading practices among the majority of its users, reveals research from IT consultancy TowerGroup to be published this week.
Forwards head leaves Citi
NEW YORK – Head of FX forwards trading Vincent de Lorenzo left Citigroup in New York earlier this month, a source at the bank told FX Week .
Vendors gather for DWT
LONDON – FX and trading technology vendors are gathering in London this week for the tenth annual Dealing with Technology exhibition.
Barclays Capital hires new FX strategy head
LONDON – David Woo will take charge of FX strategy for Barclays Capital in London, effective June 9. He joins from Citigroup, where he was head of local markets strategy for central and eastern Europe, Middle East and Africa, as well as global strategist…
WestLB live with Hotspot FXi link-up
NEW JERSEY – WestLB in April became the first client to go live with technology vendor Cognotec’s automated link to HotspotFXi.
Advanced IRB Basel II approach delayed
BASEL – The Basel Committee on Banking Supervision has said that implementation of the advanced internal ratings-based approach (IRB) for credit risk and the advanced measurement approach (AMA) for operational risk will be delayed until the end of 2007…
NAB’s forex losses wipe out trading income
MELBOURNE – National Australia Bank’s entire first-half trading income was wiped out by its FX options losses, the bank’s financial results revealed last week.
AIB rapped for overcharging
DUBLIN – Allied Irish Banks (AIB) sailed into another forex controversy last week, as it emerged the bank has been overcharging for forex deals for the past eight years.
BIS reports FX options surge
BASEL – FX options business increased by a massive 77% year-on-year in the second half of last year, according to Bank for International Settlements (BIS) statistics released last week.
Swedbank installs new turrets
Stockholm – Swedbank is installing 200 new turrets from US vendor IPC Information Systems for its FX, fixed income and equity trading.
Banks compete for e-FX talent
LONDON – Dealers combining technological and sales expertise are in short supply as banks compete to secure staff that can aid their success in the growing online FX market.
S&P rates Calyon AA-
PARIS – Rating agency Standard & Poor’s has given Calyon Corporate and Investment Bank (formed on April 30 following Crédit Agricole Indosuez’s acquisition of Crédit Lyonnais) an AA- long-term counterparty credit rating.
Tullett plans new data launch
LONDON – Tullett Financial (TF), the data sales arm of broking group Collins Stewart Tullett (CST), is readying the launch of a new currency data product for June.
Data sets tone for firmer dollar
NEW YORK – Much stronger than expected economic data from the US last Friday has set the tone for a firmer US dollar this week – potentially putting an end to the nervousness that has kept some clients out of the market in recent days.