Regulation
Greenspan and Snow to visit Cfets
BEIJING – Alan Greenspan, Federal Reserve chairman, and John Snow, treasury secretary, will visit the Shanghai office of the China FX trading system (Cfets) on their visit to China this week.
Central banks increase FX holdings
BEIJING AND WASHINGTON DC – A Chinese official last week highlighted the possibility of a significant move out of US dollar reserves, as the latest IMF figures show central banks have continued to hold faith in the greenback.
Structured products in the spotlight
WASHINGTON, DC – Concerns over the mis-selling of structured products to investors in the US has prompted the National Association of Securities Dealers (NASD) to issue guidelines to ensure members fall within the scope of sales practice codes.
CST merger leads to derivatives domination
LONDON – The £132 million Collins Stewart Tullett (CST) acquisition of Prebon Yamane last October has propelled the combined group to domination of the broker categories for interest rate and currency derivatives in sister pulication Risk 's 2005 inter…
Eurex to roll out its futures platform in United States
CHICAGO & Frankfurt – Eurex, the Frankfurt-based derivatives exchange, will be rolling out its FX futures platform in the US this month as planned, confirms an official at the exchange in Frankfurt.
Banks risk US regulatory backlash
NEW YORK – FX banks could face a regulatory backlash in the US for the mis-selling of FX products by retail brokers, warn market players.
Dollar boosts FX derivatives
BASLE – The rally in the US dollar has worked to the benefit of exchanges offering trading in currency derivatives.
Hedging rupee currency pairs
The global markets team at ICICI Bank in Mumbai suggests ways for Indian corporates to hedge against volatility in the Indian rupee currency pairs.
Heading for the final USD selling opportunity
Hans-Guenther Redeker, global head of FX strategy at BNP Paribas in London, suggests a way to take advantage of the prospect of near-term dollar strength to protect against the likelihood of longer-term USD weakness.
The relative merits of zero-premium structures
Zero-premium structures can do a better job as a hedge than a vanilla instrument, when the full cost of insurance is paid. By Kenrick Ramlochan, director, FX analytics and risk advisory at ABN Amro in London
US banks boosted by foreign exchange
NEW YORK – US banks have posted a strong Q2 for FX in recent weeks.
Portals tackle liquidity issues
NEW YORK – The rise in anonymous trading has changed the way banks distribute liquidity.
OCC reports decline in forex derivatives trading
WASHINGTON, DC – Foreign exchange has bucked the trend for derivatives trading with a fall in value for the first quarter of the year, according to the US Office of the Comptroller of the Currency (OCC).
Euro fall to continue, say analysts
LONDON, COPENHAGEN AND NEW YORK – The euro is set to stay weak against the dollar, according to FX strategists.
Five charged over $3m currency fraud
WASHINGTON, DC – The US Commodity Futures Trading Commission (CFTC) has filed another action against individuals taking part in fraudulent foreign exchange trading.
InfoReach adds HotspotFXi to TMS
NEW YORK – InfoReach, the financial securities trading technology firm, has teamed up with Hotspot FXi, the online foreign exchange platform, to allow its clients access to its prices.
Romania takes Delta Dealing System
Bucharest – Dublin-based software vendor Delta Community has successfully entered the Romanian market.
‘FX markets are unreadable’
Foreign exchange markets are notoriously difficult to predict, so corporates shouldn’t bother, argues Simon Miles (right), currency strategist at Corporate FX. Instead they should focus on deciding how to hedge the risk so they can determine its real…
‘No’ votes lead to record flows
LONDON – The ‘no’ votes on the EU constitutionreferendums last week led to unexpectedvolatility in the currency markets, and the highestvolumes ever seen on some platforms.
Deutsche loses staff across desks
LONDON – Deutsche Bank in London has haemorrhaged five foreign exchange staff from structuring, sales and trading in recent weeks. Jeremy Smart, director of FX structuring, who reported to Rhomiaos Ram, global head of complex risk, has been linked with a…
Benefiting from yuan revaluation
The Lloyds TSB Financial Markets team suggests how to benefit if the Chinese yuan revalues and Asia follows suit
UK least likely to adopt euro
GLOBAL – Of the European Union members yet to join the euro, the UK is the least likely to join the single currency, according to a survey of FX Week readers.