Regulation

Fraud charges at Florida's FIG

WASHINGTON, DC – The US District Court for the Southern District of Florida has frozen the assets of foreign currency firm First International Group (FIG) following fraud charges by the US Commodity Futures Trading Commission (CFTC).

Lava moves into interbank FX space

NEW YORK – Citigroup subsidiary, Lava Trading has confirmed plans to launch a new interbank forex trading system this year. The move makes it the first of a number of platforms rumoured to be taking the plunge into the space.

Icap concludes deal with EBS

LONDON – Interdealer broker Icap's agreement to acquire electronic forex heavyweight EBS last week could signal a shift in the current landscape of the forex market, say analysts.

Icap concludes deal with EBS

LONDON – Interdealer broker Icap's agreement to acquire electronic forex heavyweight EBS last week could signal a shift in the current landscape of the forex market, say analysts.

CFTC finds trader liable for $32 million

WASHINGTON, DC – The US Commodity Futures Trading Commission (CFTC) has granted a permanent injunction against Ronald Steven Holt and three associated companies for financial misdemeanours, while fining them a total of $32 million.

April – a perfect storm for Asian FX?

Investors could profit from the prospect of an unusually volatile month for the normally low-vol USD/SGD. Sean Callow , senior currency strategist at Westpac Institutional Bank in Singapore, explains how this can be achieved

Demand for ETFs at an all-time high

BASEL – Demand for exchange-traded futures and options contracts reached an all-time high last year, with annual turnover up 22% on 2004, according to the latest quarterly data released by the Bank for International Settlements (BIS).

Is risk adequately priced?

An end to carry plays on high-yield emerging currencies would create volatility in FX markets and potential flight to safe-haven assets. Sharada Selvanathan , currency strategist at BNP Paribas in Singapore, suggests a basket to benefit from this

SunGard expands Asia-Pacific operations

TOKYO - Software vendor SunGard is expanding its operations in the Asia- Pacific region in 2006. It will provide solutions for trading, treasury and risk management, benefit administration and insurance. Other services include institutional asset…

BoA to reclassify

NEW YORK - Bank of America (BoA) has had to recalculate its financial statements since 2002, after it emerged that it had wrongly classified FX and interest rate derivatives earnings.

BIS group to work on settlement delays

BASEL – A Bank for International Settlements (BIS) working group will look at settlement problems in the over-the-counter derivatives market, in an effort to deal with delays in trade processing.

GFT gains Japan approval

ADA, MICHIGAN – Global Forex Trading (GFT) has become the first foreign-based non-Japanese firm specialising in FX trading services to receive licensing from the Financial Services Agency (FSA) of Japan, it claims.

BoA builds algo FX capabilities

NEW YORK – Bank of America (BoA) has taken a major step towards building up its algorithmic trading capabilities in the FX space, with the acquisition of algorithmic-driven pricing and trading specialist, Financial Labs.

CFTC charges another forex fraudster

WASHINGTON, DC – The Commodity Futures Trading Commission (CFTC) last week charged an individual with defrauding more than $5 million by soliciting customers to trade foreign exchange futures contracts via hedge funds.

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