News
Tech briefs - Multi-bank portals fight for viability
Multi-bank FX portals’ fight for viability is about to be won -- or lost -- said London-based research firm ClientKnowledge, after publishing its estimates of the portals’ trading volumes last week.
Ex-dealers seek to return
LONDON -- January will see a host of forex market participants returning to the markets, after stints in e-commerce or at buy-side firms, report industry recruiters.
WestAM launches currency hedge fund
LONDON -- WestAM, the e38 billion asset management arm of German bank West LB, has launched a currency and fixed-income hedge fund.
HBOS names new treasury head as senior exec resigns
LONDON -- HBOS Treasury Services last week named Lindsay Mackay as its new head of treasury, following the departure of Roger Woodbridge, deputy chief executive.
Goldman refutes rumours of fixed income/equities merger
NEW YORK -- Goldman Sachs dismissed market rumours last week that it is considering a merger of its fixed income and currencies division with equities in the US
New York banks silent on FX job cut rumours
NEW YORK -- Spokespeople for Citigroup and Dresdner Kleinwort Wasserstein (DrKW) in New York last week declined to comment on rumours that both have recently cut FX staff in the centre.
Reuters reasserts forex dominance
UK trading technology and information firm Reuters may be having a difficult year, but its forex business is booming, according to FX Week ’s 2002 survey.
Top five dealers close ranks
Shrinking market rewards top players in biggest ever forex survey
BIS opens Americas office
MEXICO CITY -- The Bank for International Settlements (BIS) has opened a representative office for the Americas in Mexico City.
French push for ECB reform
PARIS -- A French economic think tank has urged European authorities to reform the European Central Bank (ECB) ahead of the enlargement of the European Union and the eurozone.
Trading Places
Rabo trader slated to join NCB
German banks report modest growth
FRANKFURT -- The major German banks reported modest upticks in their FX earnings for the first nine months of 2002.
RBC builds London FX
LONDON -- Royal Bank of Canada is building its London foreign exchange group in response to growing business in London and Europe, a senior official told FX Week .
ACI UK elects new president
LONDON -- The UK branch of forex body ACI-The Financial Markets Association elected Pinder Grewal as its new president on October 10.
Citi to outsource e-liquidity
Forex giant goes online to service growing ranks of 'buy-side' banks
Malaysian central banker addresses forex market
KUALA LUMPUR -- The governor of the Central Bank of Malaysia last week told forex dealers the concept of a single Asian currency was unlikely in the immediate future. But, "this does not preclude greater co-operation on exchange rate issues and other…
AIG joins CLS as new shareholder
LONDON -- American International Group (AIG) has become a shareholder of CLS Group Holdings, the holding company for Continuous Linked Settlement (CLS), the firm announced last week.
Asian banks reinvent treasury
KUALA LUMPUR -- Banks in Asia are reinventing their treasury departments to become more customer-centric, with increasingly sophisticated products, heard delegates at the forex industry congress in Kuala Lumpur.
Vendors showcase custom-built solutions
KUALA LUMPUR -- Customised solutions dominated the trade show at the ACI -- The Financial Markets Association’s 22nd Asia Pacific Congress earlier this month.
Congress bites
CME launches online futures tool
BBH upgrades web platform for investors
NEW YORK -- US custodian Brown Brothers Harriman (BBH) went live with the upgrade of its web-based currency trading service FX WorldView last week, Brenda Kerins, head of FX e-commerce at BBH in New York told FX Week .
Tech briefs
WSS launches upgrades
Real makes shaky steps to recovery
SAO PAULO -- The Brazilian real has steadied in the aftermath of the recent presidential elections, but Brazil’s debt problems are still threatening the currency.