News
Generating alpha: benefiting from beta
HONG KONG - Understanding beta and passive alpha strategies is valuable to alpha generation in foreign exchange, said Raymond Franzi, director and head of global finance and FX structuring for Asia-Pacific at Deutsche Bank.
Apama users given more algo options
Trading technology vendor Progress Software has integrated the Progress Apama algorithmic trading platform into electonic communications network Accelor.
SWFs more likely than central banks to diversify FX assets
LONDON - Sovereign wealth funds are much more aggressive in diversifying foreign exchange assets than central banks, says Mansoor Mohi-uddin, the managing director of FX stategy at UBS.
UBS makes more changes to FICC team
ZURICH - UBS has unveiled further changes to its newly created fixed income, currencies and commodities (FICC) division, less than a month after revealing substantial third-quarter losses relating to the subprime crisis.
More forex departures at Bank of America
YORK - Further changes at Bank of America's foreign exchange business have emerged as the US dealer realigns FX with its rates business.
Electronic FX volumes expected to reach 80% by 2010
NEW YORK - Electronic foreign exchange trading will account for 80% of the overall FX market by 2010, according to research released last week.
FX Solutions presents Web Trader platform
NEW YORK - New York-based retail trading company FX Solutions has begun demonstrating a browser-based version of online trading front-end GTS Pro.
SuperD adds inflation products to platform
NEW YORK - Derivatives data and pricing software vendor SuperDerivatives is adding support for inflation-linked securities and derivatives to its SD-IR interest rate derivatives pricing module, in response to client demand for data to hedge inflation…
UBS reign over, Citi back on top
LONDON - Citi has usurped UBS to take top spot in this year's FX Week Best Bank Awards, ending a four-year winning streak for its Swiss rival.
Deutsche shakes up north American FX
NEW YORK - Deutsche Bank has realigned its foreign exchange sales business in north America, with a new head of FX sales for the region, based in New York.
Japan's 120 forex brokers under investigation
TOKYO - Japan's Financial Services Agency (FSA) is investigating the country's 120 licensed retail forex brokers, after local online broker FX Sapporo filed for bankruptcy last month.
UniCredit expands FICC
NEW YORK - UniCredit has hired a new head of fixed income, currencies and commodities (FICC) for the Americas, as part of a push to expand its global foreign exchange franchise.
Saxo makes key hire in Denmark
COPENHAGEN - Saxo Bank has hired Albert Maasland as European chief operating officer in Copenhagen.
BarCap's FX expansion continues
LONDON - Barclays Capital has hired James Polansky as head of European and Latin American emerging markets foreign exchange options trading in London.
FXMarketSpace trading slow in October
CHICAGO - Trading on FXMarketSpace continued to decline in October, with average daily volumes dropping 16% to $696 million, according to figures released by the platform last week.
BoA swings the axe
NEW YORK – Bank of America has taken a hatchet to its three-month-old global rates, currencies and commodities (GRCC) business, with senior level departures and desk closures last week.
ABN Amro trading chief quits ahead of merger
LONDON – Gary Hawkins, London-based local markets trading chief at ABN Amro, has resigned from the bank in the same month a consortium led by the Royal Bank of Scotland (RBS) has won a long-running takeover battle for the dealer.
360T signs up to Harmony
NEW YORK – 360T is set to provide straight-through processing (STP) on multibank platform TEXR Multidealer Trading System and spot FX aggregator Supersonic TEXR using the Traiana Harmony network.
European dealers post record FX results
ZURICH & FRANKFURT – Losses linked to the credit crisis have overshadowed what has been a bumper third quarter for foreign exchange dealers, according to results released last week.
BoA swings the axe
NEW YORK – Bank of America has taken a hatchet to its three-month-old global rates, currencies and commodities (GRCC) business, with senior level departures and desk closures last week.