FX Markets - Vol 18 No 24
Articles in this issue
FXMarketSpace volumes continue to rise
LONDON – Average daily trading volumes on FXMarketSpace rose 54% in May, indicating steady growth over the platform, say analysts.
Saxo's short-term yen view pays out
Saxo Bank's weak short-term view on the Japanese currency has helped the bank beat rivals UBS, GFT and Citi in FX Week 's one-month currency rankings.
The rise of the vol product
To get pure exposure to the new asset class, Philippe Lintern , head of FX Complex Products at The Royal Bank Of Scotland in London, proposes volatility products
BoA names head of forex Americas
NEW YORK – Bank of America (BoA) has promoted Herbert Perez to head of global FX for the Americas and global head of spot and emerging market currency trading, based in New York.
Reuters upgrades RTFX service
LONDON – Reuters has gone live with a revamped version of Reuters Trading for Foreign Exchange (RTFX), its bank-to-client FX trading service.
PIA launches independent research service
A team of three former Dresdner Kleinwort bankers last week launched Price Information Advantage (PIA), an independent provider of technical research platform.
Maybank launch targets retail clients
KUALA LUMPUR – Malaysian bank Maybank last week launched G10FX CG, currency-linked investment products aimed at retail clients.
FXMarketSpace's advantage is eroded
FXMarketSpace has released its second set of volume figures, showing the platform is growing steadily.
Landsbanki selects SuperDerivatives
REYKJAVIK – Iceland's Landsbanki has gone live with SuperDerivatives' multi-asset class price discovery platform, signalling the move towards multi-asset class sales by banks.
FX and DX: volatility events and the bid-ask spread
Charles Wright suggests a rational means for adjusting the bid-ask spread to compensate for the uncertainty associated with routine event-driven conditions
Citi forex teams in London and Paris suffer losses
LONDON & PARIS – Citi has suffered two losses at its FX trading and sales teams in London, and is believed to have lost a third man in Paris.
SEB introduces worldwide senior management changes
LONDON, STOCKHOLM & NEW YORK – Skandinaviska Enskilda Banken (SEB) has undergone a reshuffle of senior FX management.
Deutsche and ABN expand their retail offerings
LONDON – Deutsche Bank plans to target Middle Eastern retail investors with an Arabic language version of margin trading platform dbFX, due for release in the third quarter.
GSAM jumps on Hotspot FX bandwagon
JERSEY CITY – Goldman Sachs Asset Management (GSAM) is understood to have signed on for electronic communication network (ECN) Hotspot FX, sources have told FX Week .
BarCap poaches Tokyo team from JP Morgan
TOKYO – Barclays Capital has poached four FX sales staff from JP Morgan in Tokyo, as part of an effort to expand its coverage of the Japanese market.
CME gets go-ahead from UK regulator
The Chicago Mercantile Exchange (CME) received approval from the UK Financial Services Authority to provide global clearing services in the UK.
Shock departures at Icap
NEW YORK – Interdealer broker Icap has witnessed the resignation of three senior members of the former EBS team, shortly after the departure of former chief executive Jack Jeffery.
Best to return to State Street from JP Morgan
NEW YORK – Stephen Best, former global head of e-commerce at JP Morgan in New York, is due to resurface at State Street, the bank has confirmed.
