Derivatives
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
Collateralised FX obligation market takes off
LONDON – The market for collateral- ised foreign exchange obligations (CFXO) is gaining pace, with Derivative Fitch establishing a ratings methodology for the products.
Deutsche restructures FX operations in Japan
TOKYO – Deutsche Bank has rebuilt its FX operations in Japan with seven hires and two transfers, amid a sweeping reorganisation of the business in the country.
Who's who on the exhibition floor?
FX Week gives a rundown of some of the top exhibitors at this year's event. Find out who's showcasing what, then see the box on the next page for your entertainment listings
Clariden centralises forex pricing data
LONDON – Swiss private bank Clariden Leu has rolled out an FX pricing solution to centralise pricing and distribution of FX rates throughout the organisation.
Bloomberg Tradebook adds forex forwards
NEW YORK & LONDON – Electronic broker Bloomberg Tradebook plans to add FX forwards to its electronic communications network Bloomberg Tradebook FX, in the second quarter.
BoT closes NDF trading loophole
BANGKOK – The Bank of Thailand (BoT) has again intervened in the FX markets, by ordering banks not to trade non-deliverable forwards (NDF) with foreign counterparties.
History calls for caution on Kiwi
History suggests we may see one last squeeze higher over Christmas for the kiwi, says Rhiannon Healy, solutions specialist for ANZ in London
China bans pricing in offshore NDF market
BEIJING – Chinese officials last week banned local banks from quoting prices in the offshore non-deliverable forwards (NDF) market in an effort to boost trading onshore, said analysts.
China bans pricing in offshore NDF market
BEIJING – Chinese officials last week banned local banks from quoting prices in the offshore non-deliverable forwards (NDF) market in an effort to boost trading onshore, said analysts.
How to play gravity-defying USD/JPY
Peter Luxton, Global Markets Adviser and Shant Movsesian, Senior Options Analyst at Informa Global Markets advise taking dollar bulls into account when trading on potential weakness
Managing exposure to forex volatility
Manuel Deijk in the structured FX team at UBS looks at a selection of quantitative methods applied in the implementation of FX risk management policies
Pension funds should increase FX exposure – Deutsche Bank
LONDON – Pension funds should substantially increase their exposure to forex in order to increase returns and decrease volatility of returns, according to research from Deutsche Bank released last week.
Forex trading on the rise again
GLOBAL – It has been another bumper six months for forex, according to figures published from the various global FX committees.
HSBC realigns FX in US
NEW YORK – HSBC has re-aligned forex management in New York amid broader changes for its US operations.
EBS set to take NDF trading online
LONDON – Non-deliverable forwards are set to be traded electronically with EBS. The platform is in discussion with banks about making them available on the platform.
Bloomberg continues FX boost
NEW YORK – Bloomberg is continuing to build up its forex capabilities with a new information product called FXIP (foreign exchange information platform).
Bloomberg continues FX boost
NEW YORK – Bloomberg is continuing to build up its forex capabilities with a new information product called FXIP (foreign exchange information platform).
There are no options benchmarks
The following is a case study of option volumes with delayed delivery, by Nasir Afaf, global head FX options, Commerzbank Corporates & Markets in London
HSBC names Brown global FX chief
GLOBAL – HSBC has undergone a major reorganisation in FX, resulting in a newly created global head of FX role.
Hong Kong set for retail yuan NDF contracts
HONG KONG – Authorities in the Special Administrative Region are to follow China's lead in making renminbi non-deliverable forwards (RMB NDFs) available for trading next month.
Interactive to switch FX feed
BEDFORD, MASSACHUSETTS – Data vendor Interactive Data is to switch off an old forex data feed from its ComStock division and replace it with a new one from another part of ComStock, GTIS.
Using probability for barrier placement
Mark Miklavs, director, structured derivatives at HBOS treasury services in London, develops an option hedging strategy to take advantage of the recent pick-up in volatilities by using normal distribution to provide a theoretical perspective on barrier…
A cheaper way to take a bearish stance
Ian Stannard, senior currency strategist at BNP Paribas in London, suggests using an anticipated short-term recovery to significantly reduce the cost of entering a longer-term bearish strategy on USD/JPY