News
Lloyds TSB to open night desk
LONDON -- Lloyds TSB will be opening a forex night desk in March as part of its continued expansion into FX.
European banks get boost in Q4
ZURICH -- European banks were back in the black by the end of 2004 after tough market conditions in the third quarter brought about dire results for foreign exchange.
Etrali connects trading rooms
PARIS -- Etrali is offering an internet protocol (IP) gateway allowing FX traders to access positions and conferencing facilities while moving between trading floors globally.
Asia to set up Bellagio Group
BANGKOK -- Asian nations are looking to set up a group that will bring greater regional co-operation.
China prepares for currency flexibilit
HONG KONG -- Chinese authorities are making further preparations towards a more flexible currency with new rules aimed at minimising an appreciation in the renminbi, say analysts.
Wachovia adds in UK and HK
LONDON & HONG KONG -- Wachovia Bank is continuing its expansion in Europe and Asia with two recent hires.
CFTC shuts down forex boiler operation
WASHINGTON, DC -- US authorities have frozen the assets of six firms and arrested four of their employees after the Commodity Futures Trading Commission (CFTC) charged them with fraud last week.
Deutsche quits EBS Prime
LONDON -- Deutsche Bank is pulling out of EBS Prime due to a lack of economic benefit it has seen from being on the platform.
NAB gears up for forex options restart
SYDNEY -- National Australia Bank (NAB) has hired in preparation for the re-launch of its forex options desk, following its closure last year as a result of a trading scandal.
ABN begins restructuring
LONDON -- ABN Amro’s restructuring has led to the first forex casualties.
FNX extends in Thailand
BANGKOK -- FNX, the Philadelphia-based technology vendor, has said that Siam Commercial Bank (SCB) is now using its Sierra Treasury Solution, the third client to go live with it in Thailand.
Legal standards for FX prime brokers
NEW YORK -- Legal standards for documentation between foreign exchange prime brokers and their dealers will be introduced next month.
Calyon chooses Reuters for FX
LONDON -- Calyon has launched its revamped FX online trading platform, Aquarius, using Reuters technology.
Trio departs Lehman Brothers
NEW YORK & LONDON -- Lehman Brothers is the latest bank to see high-profile departures from its desk, with the exit of three senior members of staff.
Lebanese central bank to keep currency stable
BEIRUT -- The Central Bank of Lebanon has vowed to keep the Lebanese pound stable, after last week’s assassination of former prime minister Rafiq Hariri.
Reuters & Bloomberg target buy side
NEW YORK -- Bloomberg and Reuters are going head to head in a bid to target the burgeoning buy-side market, with forex transactional capabilities being launched by both global information providers.
Banks focus on mid-caps
LONDON -- Commercial banks are focusing more on mid-cap corporates this year as an alternative to the ‘over-banked’ blue chip firms, say market participants.
Aussies loosen FX regulations
SYDNEY -- Australian authorities have amended regulations to make it easier for foreign exchange businesses to operate in the country. The Australian Securities and Investments Commission (Asic) has extended the scope of those exempt from holding an…
Multibank platforms ‘to consolidate’
LONDON -- The multibank platform space is set for further rationalisation following the demise of Centradia, according to market participants.
ACM adds currencies and precious metals
GENEVA -- Advanced Currency Markets (ACM), the online FX trading firm owned by Refco group, is adding several new currency pairs and precious metals to its online dealing platform.
Regional FX investments take off
LONDON -- Sales of investments linked to baskets of regional currencies have taken off as investors search for yields from broad macro themes in Asia and central Europe.