News
Ueda Harlow taps Internap
TOKYO – Japanese FX broker Ueda Harlow has selected technology vendor Internap Network Services for internet IP connectivity on its new online FX trading service. Ueda Harlow-FX, launched at the end of June, will use the intelligent routing technology…
Citi extends structuring
NEW YORK – Citigroup has extended its structuring capabilities by setting up a group dedicated to providing derivatives-based solutions for clients.
Oanda offers a simple option
NEW YORK – Oanda, a US currency trading and information firm, has launched Oanda BoxOption, aimed at simplifying options trading.
Reuters enters post-trade market
LONDON – Reuters is to move into post-trade settlement of FX transactions with the forthcoming launch of its Reuters Trade Notification Service (RTNS).
The tip of the eFX iceberg
GREENWICH, CT – Electronic FX volumes could hit a new wave of growth if the banks behind spot broker EBS' buy-side initiative stay committed, according to research by Greenwich Associates.
One in, one out at Deutsche
LONDON – Deutsche Bank has hired Chris Collings as a director with a specialty in strategic corporate structuring. He will be a specialised resource for all the regional FX structuring teams and corporate coverage. Collings was previously part of the…
More hires at JP Morgan
LONDON – JP Morgan has made five hires in its global currency and commodities group in London, to bolster its sales and trading platform in Europe.
Diversification needed for Asian central banks
TOKYO – As much as $450–$500 billion may have to be shifted from dollars to yen and euros if Asian central banks are to avoid big yearly losses, said Thomas Stolper, global market economist at Goldman Sachs in London.
ABN Amro names new distribution head
AMSTERDAM – ABN Amro has made Scott Wacker global head of FX distribution, following a realignment aimed at increasing coverage of futures clients.
CLS cuts costs as well as risk, says survey
LONDON – The introduction of CLS has cut processing costs of FX transactions almost three-fold, according to a survey by Z/Yen, a city-based market research firm.
US FX catching up with UK
LONDON & NEW YORK – Growth in the US FX market is outstripping the UK, according to official figures released last week.
ABN Amro cashes in on retail demand
HONG KONG – ABN Amro is capitalising on retail demand for exposure to forex markets with the launch of the first FX-linked equity notes for retail investors based in Hong Kong.
AIG continues FX restructure
NEW YORK – AIG Financial Products (AIG FP) has restructured its FX trading desk a year after it tried to boost the operation with six hires ( FX Week , July 5 2004).
Reuters strength driven by FX
LONDON – Reuters' half-yearly results were driven by strong foreign exchange and other trading.
Foreign banks slammed in Seoul
SEOUL – Three foreign banks have been reprimanded by Korean authorities for selling inappropriate FX derivatives contracts to state-owned companies.
JP Morgan hires London MD
LONDON – JP Morgan has hired Andrew Simon as managing director and head of global clients in its global currency and commodities group. He joins from Lehman Brothers, where he was a managing director and head of FX derivatives marketing. He also has…
Saxo extends currency offering
COPENHAGEN – Foreign exchange specialist Saxo Bank is set to introduce the new Turkish lira (TRY) onto its platform from next week, in an effort to meet increased demand for trading in the currency.
More expansion at BoA
NEW YORK – Bank of America (BoA) is continuing the unrelenting build-up of its FX team with a series of hires in strategy and an additional prop trader.
US banks boosted by foreign exchange
NEW YORK – US banks have posted a strong Q2 for FX in recent weeks.