Asia
US volumes dive after Sandy hits FX survey data
Average daily FX volume fell again in the US, UK and Canada in October 2012, but the fall was sharpest in the US, partly due to the effects of Hurricane Sandy
SEB eyes FX growth in London under new regional head
In his new role as head of FX for London, Shaun Barham has a mandate to grow the bank’s forex business in the city, as well as to bolster the FX prime brokerage business, which now reports directly to him. He talks to Robert Mackenzie Smith
Asian currency hedgers to be hit by ‘fatal flaw’ in new accounting rules
A major change is needed to correct new hedge accounting rules that could restrict derivatives use by Asian firms hedging their foreign currency exposures
LMAX management team buys majority stake from Betfair
Management buyout will give LMAX Exchange the necessary flexibility to evolve into a leading FX venue within three to five years, says chief executive David Mercer
Credit Suisse concentrates Asia FX in Singapore
The Swiss bank is seeking to focus its FX business for the region in one location, except for small teams in Tokyo and Hong Kong
Barclays grabs top spot for FX options
The UK bank has risen from fourth to third place in this year's survey, and has also added FX options to its awards tally
HSBC cleans up in emerging Asia and Emea
A strategic coverage in key emerging markets, coupled with its ongoing focus on onshore and offshore renminbi trading, has landed HSBC with a string of awards this year, including both emerging Asia and Emea
ANZ continues expansion as Aussie dollar popularity rises
The Australian bank will soft launch its new collateral FX platform next month, ahead of a full roll-out scheduled for February
Barclays Asia FX strategy head departs
Head of FX strategy for Asia ex-Japan has left Barclays after just 15 months at the bank
Banks face up to fragmented clearing landscape in Asia
In preparing for mandatory clearing, the priority is to ensure all CCPs across Asia adhere to the same set of standards, says Deutsche's David Lynne
China to widen RMB trading band again before end-2012
Further liberalisation of renminbi is on the cards in the near future, says senior RBS strategist
Angling for the Asian frisbee
Regulation was top of the agenda at the FX Week Asia conference, with serious concerns voiced alongside some signs of positivity, writes Joel Clark
Credit Suisse's Asia sales head departs
Ivan Chan, head of FX sales for Asia-Pacific in Singapore, is the latest in a string of senior forex departures from the Swiss bank
BAML appoints Deutsche veteran to head Asia global markets
Loh Boon Chye, formerly head of corporate and investment banking for Deutsche Bank Asia-Pacific, is to join Bank of America Merrill Lynch
GFI extends ForexMatch into Asian and African currencies
The interdealer broker is expanding the footprint of its forex derivatives platform by adding Asian and African currency pairs
CFTC cross-border guidance a threat to ‘systemic stability’, say Asian regulators
Leading regulators from across Asia complain of the potentially negative impact of the US regulator’s latest proposals
Central banks turn to RMB assets
Central banks in Asia are diversifying their holdings into RMB, marking the latest stage in the currency’s internationalisation
The platforms of 2012: Gain GTX
Two-and-a-half years after its launch as a subsidiary of Gain Capital, the GTX platform is gathering steam and now trades average daily volumes of up to $8 billion. In the latest in a series of articles assessing the challenges facing new and existing…
Credit Suisse hires options trading head for Asia
Former Citi trader has relocated to Singapore to join the Swiss bank
Spotlight on: Drew Niv, FXCM
FXCM’s co-founder and chief executive talks to Robert Mackenzie Smith about the challenges facing the foreign exchange market in 2012, as well as the company’s new initiatives, including the FastMatch platform and the 50% stake it has acquired in Lucid…
Cautiously optimistic on EM currencies
While FX markets remain constrained by weaker-than-expected growth, a savvy combination of emerging market currencies offers the potential for strong returns, argues Callum Henderson
ADB economist moots idea of common currency in Asia
Principal economist at Asian Development Bank says common currency possible in ‘long run’; panellists outline possibilities for greater Asian economic integration
Diverse netting approaches create OTC headache
A lack of legal statutes over netting in several Asian countries means OTC trades could become prohibitively expensive in a post-Basel III world, potentially pushing international banks out of some markets in the region
Spotlight on: Beng-Hong Lee, Deutsche Bank
Deutsche’s head of offshore renminbi in Shanghai talks to Joel Clark about his role in leading the bank’s efforts in the new currency, and where he believes the biggest opportunities and challenges lie