Foreign exchange
Mifid and forex in a nutshell
The Markets in Financial Instruments Directive is placed under the microscope by Richard Hartheimer , managing director at Currenex, Europe in London
How Mifid affects the global FX market
Mifid will create an even more efficient market for FX services that can be delivered quickly, inexpensively and globally, says Chris Pickles , chair of its Joint Working Group in London
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
Icap launches Aussie/Kiwi pair
LONDON – Interdealer broker Icap is going live with the Australian dollar (AUD) and Kiwi dollar (NZD) as a tradable pair today (April 30).
Extending forex market reach
There is great scope for further integration between FX and interest rate swap markets, says Philip Whitehurst of independent developer MID Analytics in London
Opening up can be so hard to do...
Reuters' decision to open up its desktops to other platforms is clearly a sign of the changing tides in the foreign exchange industry.
Reuters to open up desktops, hailing radical new strategy
LONDON – Reuters is opening up the Dealing 3000 and 3000 Xtra desktops to rival platforms, in what signals a seismic shift in strategy for the electronic broker.
Reuters to open up desktops, hailing radical new strategy
LONDON – Reuters is opening up the Dealing 3000 and 3000 Xtra desktops to rival platforms, in what signals a seismic shift in strategy for the electronic broker.
ACM re-acquires ex-Refco shareholding
GENEVA – Geneva-based online currency trading platform ACM Markets has re-acquired the outstanding 768 of 3,000 shareholding, from the creditors of defunct futures broker Refco.
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.
Merrill reorg triggers forex hires
LONDON & NEW YORK – Merrill Lynch has made four hires in its FX options team, amid a reorganisation of its FX and local currency trading businesses.
Forex shuffle at London Citi
LONDON – Citi is undergoing changes at its FX team in London, with three departures and two hires.
Lehman Brothers expands e-FX capabilities
LONDON – Lehman Brothers is expanding its e-commerce capabilities, as part of the continued expansion of the bank's forex business.
Four ISE forex contracts go live
NEW YORK – Four FX options contracts began trading on the New York-based International Securities Exchange (ISE) last Tuesday (April 17).
Merrill reorg triggers forex hires
LONDON & NEW YORK – Merrill Lynch has made four hires in its FX options team, amid a reorganisation of its FX and local currency trading businesses.
Marex hooks up with Accelor
LONDON – Independent brokerage Marex Financial has established connectivity to Accelor, FXall's new electronic communications network, enabling clients to trade over the platform.
Icap challenges Reuters with i-Forwards platform
GLOBAL – Interdealer broker Icap is taking on rival electronic forward FX broker Reuters, with the global rollout of i-Forwards, its electronic trading platform.
Directional Trading opens to investors
LONDON – Proprietary trading company Directional Trading has opened three currency management programmes to investors, in the form of managed accounts.
China forex market advances with launch of RMB e-trading
SHANGHAI – The Chinese Foreign Exchange Trading System (Cfets) last week launched electronic trading in RMB crosses, marking the next phase in the evolution of the country's foreign exchange market.
ABN Amro departures highlight staff jitters
HONG KONG – ABN Amro continues to suffer departures in FX sales and structuring in Hong Kong, as rival banks target talent at the regional operations of the Dutch bank.
BarCap loses two, gains one in London
LONDON – Barclays Capital has undergone changes to its foreign exchange team in London, with two departures and a hire.
Merrill Lynch reshuffles London forex sales structure
LONDON – Merrill Lynch has reorganised its London-based forex sales team, as it shifts away from a regional structure to a client-focused one.
E-trading lifts retail volumes
LONDON – Electronic trading platforms have spurred the growth of retail foreign exchange trading volumes in the global FX market, according to research released last week.
Forex tech spend set to rise 65% in 2010
BOSTON – Expenditure on technologies to support advanced trading strategies for FX trading in North America is expected to rise by around 65% over the next three years, as firms struggle to keep pace with the demands of low-latency trading, according to…