News
Aussie dollar is overvalued, says UBS Asset Management
Despite the strong performance of the Australian economy, the Aussie dollar is overvalued to "an extreme level", according to Jonathan Davies
Buy US dollar rather than EM currencies as a euro alternative, says Schroders
Clive Dennis, head of currencies at Schroders, doesn't share the widespread enthusiasm for EM currencies and recommends investors should buy the dollar as an alternative to the euro
Greek deal brings early signs of calm in spot and options
Options traders say markets are reflecting a more relaxed view on the euro than in previous months, particularly following this week's Greek rescue package
LTRO has jump-started currency investors out of risk aversion, says Pimco
Currency investors appear to have moved away from risk aversion and become more interested in high-yielding EM currencies as a result of the ECB’s refinancing operation, according to Pimco’s head of FX
SEB recruits Nordea trader
Ida Svensson will be based in Stockholm, trading the Norwegian krone
Barclays Wealth recruits UBS veteran to head FX
Julian Wantling will join the wealth management firm in London
FX markets driven excessively by 'headline noise', says Aviva’s currency chief
Volatility in foreign exchange markets has been driven increasingly by a desire to re-price on the back of every headline, says Pierre Lequeux, head of currency management at Aviva Investors
DealHub expands in London with two hires
Nick de Smith and Mark Marston join the vendor from Rab Capital and Thomson Reuters respectively
Saxo takes mobile trading to new heights
Danish bank engineers the execution of a eurodollar trade on a mobile device during a base jump, as part of a new advertising campaign
Repositories must capture network analysis, says financial stability expert
Financial network analysis can be used to help regulators digest and understand the ‘data tsunami’ in the foreign exchange market, according to Kimmo Soramäki
Trading places, February 20, 2012
Appointments at MarketAxess, Esma, Iosco and the WMBAA
Commerzbank taps smartTrade for liquidity management
The new technology creates a single liquidity pool at Commerzbank, with internal matching engines, external routing and execution, as well as clearing, settlement and pricing functionality
Singapore’s FX exemption welcomed as a sign of global consistency
A proposal by the Monetary Authority of Singapore to exempt FX swaps and forwards from mandatory clearing is seen as a positive move to harmonise treatment of FX with the US
360T secures new investment
Summit Partners is to take a majority stake in the Frankfurt-based trading platform provider
Lawrie to retire from senior trading role at BNY Mellon
The trading head’s responsibilities will be shared between Jack Moss and John Riesmeyer
FX strategy duo departs UBS
FX strategists Taso Anastasiou and Manuel Oliveri were based in Zurich with the Swiss bank
Tradeweb joins multibank FX options fray
The launch of Tradeweb’s multibank platform for FX options puts the vendor into competition with a host of other new platforms
SocGen’s ex-FX trading head calls for apology over unfair dismissal
Didier Meyer, who along with Eric Leandri was cleared of allegations of unauthorised trading earlier this week, is disappointed by SG’s failure to apologise for unfair dismissal
Industry establishes STP guidelines for offshore yuan
Swift releases guidelines to improve processing for offshore yuan transactions
ING restructures sales force in London
Michael Dryden, previously head of financial markets sales, has moved to a new role in the fixed-income team
FXall listing gets off to a soaring start
Shares in FXall surged on the first day of its IPO on the New York Stock Exchange, with participants expecting it to move into new initiatives as a public company
Euro sentiment turns upbeat after Greek deal
Politicians and strategists are cautiously optimistic on the euro, despite the considerable challenges that might lie ahead
Latest turnover figures tell positive story for FX, say committee members
Steady volume rises in US and UK indicative of healthy state of foreign exchange markets
LCH’s ForexClear awaits regulatory approval
FX clearing platform for NDFs is ready for launch, pending regulatory approval, LCH.Clearnet confirmed in its annual report today