Currency
Crisis a boon to spot brokers, volumes up 60%
LONDON - Electronic spot-broking systems EBS Spot and Thomson Reuters saw a 60-65% surge in average daily volumes in May, reflecting a return to traditional liquidity sources during times of crisis.
The euro's new clothes
Nick Beecroft, senior markets consultant at Saxo Bank in London presents a gloomy prediction of the next phase in the 2007-2010 debt crisis
Trend followers power through in May
LONDON - Currency managers using the trend strategy were the best performers in May, with an overall net movement into the US dollar, indicates research by Royal Bank of Scotland.
No margin for error
Are money market margins a new science or just an overhaul? By Carl Martin, group technology director at Eurobase Banking Solutions in London
CLS sets new record for daily settlement volumes
NEW YORK - CLS settled a record 1,758,902 sides today (June 1) surpassing the previous record of 1,758,902 sides set on February 16.
Tullett Prebon extends post-trade with Thomson Reuters
LONDON - Thomson Reuters is capturing a larger slice of the post-trade market for forex derivatives, through a deal extension with Tullett Prebon.
April a pleasant month for ParkerFX
STAMFORD, CT – The Parker FX Index is reporting a 0.52% return for the month of April as managers benefited from the continued decline in European currencies.
Out of crisis comes opportunity?
The past few weeks of rampant volatility have no doubt put the technology of a number dealers to the test. particularly interesting though are the strategic rumours circulating about an unlikely dealer.
Euro to continue decline
LONDON – Analysts are predicting further euro weakness, expecting the unit to return to 1.2135, with the short covering correction be short-lived.
Hotspot extends reach
JERSEY CITY, NJ - Agency broker and market-maker Knight Capital Group has connected foreign exchange and fixed-income trading platforms - HotSpot FX and BondPoint, respectively - to the Secure Financial Transaction Infrastructure (SFTI) network from NYSE…
Non-banks drive up Hotspot volumes
JERSEY CITY, NJ - HotspotFX reported a 107.9% rise in average daily volumes to $35.2 billion - double count - in April, versus $16.9 billion last year.
Citi sales reorg after Jan Bak departure
LONDON – Citi has reorganised its institutional sales team with the departure of Jan Bak, head of non-UK European institutional sales in London.
SEB targets Asia growth
SINGAPORE - SEB has relocated Seppo Leskinen, chief investment officer of the SEB Multi-Manager Currency Fund, to Singapore from London, to leverage demand for currency management by investors in the Asia Pacific region.
Bank FX price feeds fall short
LONDON - Banks must improve their foreign exchange pricing and trading infrastructure or risk losing order flow, according to currency traders.
Asia's currencies steady under pressure
Callum Henderson, global head of foreign exchange research at Standard Chartered in Singapore, says the Asia play is far from over, despite the recent pullback in the region’s currencies
SmartTrade bows OTC pricing tool
French trading systems vendor SmartTrade will this week announce a new component to its liquidity management system for dealers to distribute customised prices on over-the-counter instruments to clients.
CIBC continues to grow
NEW YORK - CIBC has made two hires in its financial solutions group in New York, as it increases its presence in the city.
FXall adds trade analytics
NEW YORK – Investment Technology Group (ITG) launched a transaction cost analysis service in co-operation with trading platform FXall, last week.
Chinese forex regulator warns against 'hot money'
BEIJING - Xiaoyi Wang, deputy governor at the State Administration of Foreign Exchange (Safe) has warned against the inflow of 'hot money' into emerging markets, as the risk of a worsening asset bubble continues.
UBS FICC revenues up in Q1
ZURICH – UBS experienced improving data from its fixed income, currencies and commodities (FICC) business in the first quarter, largely benefiting from a turnaround in the credit business.
FXCM to buy ODL Securities
FXCM is acquiring troubled online trading company ODL Securities, pending a final due diligence review and regulatory approval.
Brazil raises intervention stakes
Nick Chamie of Royal Bank of Canada in Toronto reports on Brazil’s stance on intervention, as relayed by its finance minster at the Brazil Summit in April, and predicts how this will affect the real
Bilateral collateral agreements up in 2010
SAN FRANCISCO - Bilateral collateral agreements make up 83% of all collateral agreements in circulation in the over-the-counter derivatives market this year, versus 75% last year, according to a survey by the International Swaps and Derivatives…
High-frequency trading will be 40% of market by 2012
BOSTON - High-frequency traders could win from the introduction of central clearing in over-the-counter markets, according to research by Boston-based consultancy Aite Group released last week (April 26).