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BarCap expands options

LONDON -- Barclays Capital has hired two in FX options and two in FX structuring to join the bank in London this quarter. Three of the new dealers come from Citigroup.

ABN realigns risk advisory

LONDON -- ABN Amro has incorporated its FX analytics and risk advisory group into a new cross-product advisory service, the bank announced last week.

Firms line up to join FX standards group

LONDON -- The Treasury Workstation Integration Standards Team (Twist), an industry initiative set up to standardise integration between all FX systems, has doubled its membership to more than 50 firms in the past four months.

MMS enhances fixed-income service

LONDON -- FX and fixed-income research and analysis firm MMS International extended its technical analysis coverage of money market futures last week.

BoA management reorg

NEW YORK -- Bank of America has cut three management positions as part of an ongoing strategy to consolidate global FX trading and sales, a senior official at the bank in New York told FX Week .

War threat to Q1 FX profits

NEW YORK – The impact of the war in Iraq on FX will become clear this week, when the US commercial banks publish trading revenues for the first three months of the year.

Singapore dollar hit by SARS woes

SINGAPORE -- Speculation mounted last week that the Monetary Authority of Singapore (MAS) had intervened to protect the Sing dollar’s narrow trading range, as fears over the SARS virus escalated.

Staffing and systems key for exotics

LONDON -- Staffing and systems integration are key to the right exotics options pricing model, according to officials speaking at a derivatives seminar held in London last week.

ABN, Deutsche top forecast rankings

LONDON -- ABN Amro was the most accurate currency forecaster based on a one-month prediction made on March 7, while Deutsche Bank took top spot for 3m forecasts submitted three months ago in FX Week ’s table of forecasters (see below).

Client trading volumes rising

LONDON -- Booming hedge fund interest and an increasing number of client banks in the market are boosting global customer forex volumes, according to data from research consultancy Greenwich Associates.

CFTC charges two for fraud

WASHINGTON, DC -- The Commodity Futures Trading Commission (CFTC) last week continued its drive against retail FX fraud, charging two firms with frauds totalling over $10 million.

Market uncertainty hits Cognotec

LONDON -- Irish FX trading software vendor Cognotec is cutting three positions in New York and one in Frankfurt in response to continuing uncertain market conditions, said chief executive Brian Maccaba.

CLS interest picks up in Asia

SINGAPORE -- Asian financial institutions are becoming increasingly aware of the continuous-linked-settlement (CLS) service, according to research made public by ABN Amro last week. Just 30% of respondents in the bank’s survey of its clients in the…

Japan confirms March interventions

TOKYO -- The Bank of Japan, on behalf of the Ministry of Finance, spent nearly ¥1.2 trillion in March in a bid to ease the Japanese currency’s strength against the dollar and the euro.

Dollar consolidation brings FX manager joy

STAMFORD, CT -- A temporary halt in the US dollar’s downtrend helped 60% of currency managers on the Parker FX Index maintain positive returns in February. But returns were limited -- the index was up just 0.16% for the month.

Reuters mounts EBS challenge

LONDON -- Reuters is mounting a bid to unseat the Electronic Broking Service (EBS) as the premier broker in euro/dollar, a senior Reuters official told FX Week .

Mizuho sales head leaves

LONDON -- Head of treasury sales Richard Burrows and senior treasury sales dealer Neil Callard have left Mizuho Financial in London, just a year after winning their positions at the new bank.

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