News
ABN Amro considers trader transfers
LONDON & AMSTERDAM – ABN Amro is planning to transfer some of its Amsterdam-based traders to London, according to sources close to the bank.
HSBC FX revenues rise
LONDON – HSBC ended 2005 with a 6% rise in revenue from foreign exchange over the previous year, with the bank benefiting from increased interest in emerging markets.
DrKW makes senior hires
LONDON – Dresdner Kleinwort Wasserstein (DrKW) is continuing to rebuild in sales, trading and structuring with three further hires.
Peso strong despite political turmoil
MANILA - The Philippine peso has weathered the storm of the recent political turmoil to close at a fresh three-and-a-half year peak of 51.17 per dollar (March 3 midday GMT) as political worries eased, according to traders.
Saxo adds Web and Mobile Trader
COPENHAGEN - Saxo Bank has announced that it is introducing a browser-based trading platform to complement its Saxo Trader.
Dresdner launches FX prime brokerage
LONDON - Dresdner Kleinwort Wasserstein (DrKW) last week launched a foreign exchange prime brokerage (FXPB) business, completing its cross-asset class product PB offering.
Hedge fund signing for Deutsche Bank's Select
FRANKFURT - Deutsche Bank has added to its FX Select platform by signing Sagio's new FX hedge fund, according to FX Week sister publication Hedge Funds Review .
Currenex platform for Marex
LONDON - Marex Financial, a Refco spin-off, began offering Currenex's white label FX platform, FXtrades to clients last week.
Systematic approach delivers in January
The second monthly round-up of hedge fund performance sees managers with a systematic approach top the table, while those with a technical approach and longer-term investment horizons suffered
Royal Bank of Scotland reports rise in trading income
LONDON - The Royal Bank of Scotland (RBS) reported a 16.8% rise in income from trading activities in its annual report, released last week.
Algorithmic trading in forex limited by fragmentation
NEW YORK - The growth of algorithmic trading in the FX space has been limited by the fragmented dealer market, according to research by Tabb Group released last week.
LavaFX builds up sales in New York
NEW YORK - LavaFX is building up its sales team in New York with the hire of Curtis Perkins as a senior salesperson.
BarCap loses in London
LONDON - Barclays Capital (BarCap) has seen two departures from its London FX desk in the past two weeks.
FXall ownership speculation mounts
NEW YORK - The future ownership structure of FXall looks set to be decided within the next few weeks, as private equity firms submit their bids to adviser Goldman Sachs.
Two arrive, one leaves at ABN
GLOBAL - ABN Amro has made more changes globally in FX, with two key hires and a departure.
BarCap highlights FX benefits
LONDON - Portfolio diversification and alpha generation are the two key reasons why non-FX investors should access the asset class, according to a report released by Barclays Capital last week.
SunGard expands Asia-Pacific operations
TOKYO - Software vendor SunGard is expanding its operations in the Asia- Pacific region in 2006. It will provide solutions for trading, treasury and risk management, benefit administration and insurance. Other services include institutional asset…
Marex enters metals
NEW YORK - Independent brokerage firm Marex Financial has teamed up with vendor Patsystems to give clients access to LME Select.
Carry trades set to lose their sparkle
LONDON - Conditions for carry trades are likely to deteriorate further this year, according to French bank BNP Paribas.
Deutsche expands PB offering
LONDON - Deutsche Bank is boosting its prime brokerage capabilities with the hire of a European head and an expansion of services.
Russian activity on the up
MOSCOW - Russia's stable economy, booming markets, soaring demand for financial services and growing number of high net-worth individuals, means banks are now investing in more FX staff in the country, say market participants.
Market snubs Reuters' full-year growth
LONDON - Reuters announced more positive news in its 2005 preliminary results last Thursday, February 23, which marked the first full year of revenue growth since 2001.
BoA to reclassify
NEW YORK - Bank of America (BoA) has had to recalculate its financial statements since 2002, after it emerged that it had wrongly classified FX and interest rate derivatives earnings.