Foreign exchange
CME prepares to handle increased trading volume
NEW YORK – The Chicago Mercantile Exchange (CME) plans to add additional servers and lanes to handle increased exchange-traded volume, according to a presentation on technology bottlenecks in the global FX market at the FX Week USA conference in New York…
Algos annihilate platform favouritism
NEW YORK – Algorithms are making trading on FX platforms agnostic, according to a panel discussion at FX Week 's USA congress in New York last week (July 10).
Surveying our changing landscape
The e-FX awards celebrate best practice and innovation in the forex market. The increasingly demanding needs of clients from the sell-side to the buy-side have meant technological developments continue at full throttle. This year was no exception. In…
Dresdner boosts global sales and trading coverage
LONDON & NEW YORK – Dresdner Kleinwort is expanding its sales and trading coverage across London and New York with hires from Dutch rival ABN Amro.
Keeping pace in an explosive market
Rick Schumacher, product manager at Wall Street Systems in New York, explores recent transformations in the FX market and the new challenges and opportunities these present for banks
Deutsche scales back on FXMS
LONDON & CHICAGO – Deutsche Bank has reduced its trading volumes on FXMarketSpace, the Reuters and Chicago Mercantile Exchange joint-venture platform. The decision lies behind a sharp fall in the volumes traded on FXMarketSpace in June, informed sources…
Deutsche deepens cross- border presence
ISTANBUL – Deutsche Bank has bought the institutional cross-border custody unit of Istanbul-based Türkiye Garanti Bankasi (Garanti Bank), in a deal rumoured to be worth $115 million.
Currency volatility sparks record trading volumes
CHICAGO & LONDON – Volatility in currency markets led to record trading volumes on spot broking platform EBS and the Chicago Mercantile Exchange (CME) last month.
Singapore hub for Julius Baer
SINGAPORE – Swiss bank Julius Baer is making its Singapore location its South-east Asia hub after being granted a licence to open a wholesale banking branch in the city sate.
Margin trading platform race gathers pace
The race to launch a margin trading platform continues to gather pace, with at least two further banks in the process of signing deals with online trading companies to launch retail platforms.
ABN Amro beefs up forex in Singapore
SINGAPORE – ABN Amro has shifted more FX staff to Singapore in a further bid to centralise its Asia-Pacific forex business.
Banks sign up to Bloomberg NDFs
NEW YORK – HSBC, Lehman Brothers, the Royal Bank of Scotland and Standard Chartered have committed to offering liquidity in non-deliverable forwards (NDFs) over the Bloomberg FX Dealing platform.
Offshore relocation minimises forex processing costs
LONDON – Offshoring and rising cash FX and FX options trade volume have led to a significant reduction in cost per trade, according to a survey by London-based market intelligence firm Z/Yen.
Deutsche scales back on FXMS
LONDON & CHICAGO – Deutsche Bank has reduced its trading volumes on FXMarketSpace, the Reuters and Chicago Mercantile Exchange joint-venture platform. The decision lies behind a sharp fall in the volumes traded on FXMarketSpace in June, informed sources…
BIS confirms continuing importance of carry trade
BASEL – Foreign exchange carry trades continue to be a main driver of global exchange rate movements, according to the Bank for International Settlements’ 2007 annual report, released on June 24.
AXA IM forex fund targets institutional investors
LONDON – AXA Investment Managers (AXA IM) has launched its first active FX fund since creating a new currency management team last July.
List of e-FX Awards finalists drawn up
The shortlist for the FX Week e-FX Awards has been decided. This year we received an unprecedented number of submissions, each of a high degree of quality, demonstrating the increasingly competitive landscape for e-FX.
F&C gathers assets for FX volatility hedge fund
LONDON – F&C Alternative Investments has begun raising funds for its F&C Garnet Fund, a hedge fund targeting absolute returns by investing and trading in FX volatility and forward rate bias (FRB). The move indicates the growing prominence of volatility…
JP Morgan's reshuffle of management continues
LONDON & NEW YORK – JP Morgan has made further senior management changes under its newly structured global rates and G10 foreign exchange business.
FXMarketSpace enhances prime brokerage service
LONDON & NEW YORK – FXMarketSpace (FXMS) has joined the ranks of spot broker EBS and electronic communications network Hotspot FX by introducing the NetLink service onto the platform.
Derivative Fitch launches beta CFXO model
LONDON – Derivative Fitch last Wednesday (June 27) released a beta version of its Vector CFXO model for collateralised foreign exchange obligations, aimed at increasing transparency in the market and the understanding of its ratings.
Senior management shifts for ANZ FX sales
LONDON – ANZ has promoted David Wilkinson to a newly created role of head of currency and currency option trading for Europe and America. Wilkinson will be responsible for overseeing FX and FX options trading at the bank and will relocate from
StanChart expands in e-commerce
Standard Chartered has hired Richard Koh, former regional head of e-channels for JP Morgan in Asia, in Singapore.