Foreign exchange
COESfx forms strategic partnership
PLAINVIEW, NY – COESfx, an online foreign currency trading firm, has formed a strategic partnership with Connecticut-based daily market forecasting company Crosscurrents Investment Advisory Service.
BoA boosts sales and trading
NEW YORK – Bank of America (BoA) has boosted its global FX business with three hires in New York and Singapore, it has confirmed.
CME to offer won trading
SEOUL & CHICAGO – Chicago Mercantile Exchange (CME) and the Korean Ministry of Finance and Economy (MOFE) have announced plans to list futures and options on futures on the Korean won.
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).
Looking at the past with an eye to the future
Saturday MANILA – Saturday kicks off with a long view of the FX market, as a panel discusses how currencies have developed in recent times. The session entitled 'Evolution of currencies fixed to floating/ national to regional will be moderated by…
Saxo to open in Singapore
COPENHAGEN & SINGAPORE – Saxo Bank is opening an office in Singapore to serve its growing client base in the region.
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 below for those all-important entertainment listings
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).
EBS adds rand to spot trading
LONDON – Interdealer broker EBS has added the South African rand to its spot matching system in conjunction with South Africa's largest liquidity providing banks.
CLS cuts prices for low-value, high-freq trades
LONDON – CLS Bank has introduced a new pricing structure that sees charges slashed for settling low-value payment instructions, as it seeks to attract low-value high-frequency trading business.
Retail rollout for major banks
GLOBAL – A number of banks are launching retail FX offerings this year as they see growing opportunities for attracting flow from this market.
BarCap builds in Asia
SINGAPORE – Barclays Capital (BarCap) has continued its aggressive approach in Asia with the creation of a new head of trading role in Tokyo and four new appointments in Tokyo and Singapore.
Launches maintain rapid rate of change
The forex market is going through rapid evolution, with banks trying to engineer a market that better suits their needs.
Retail rollout for major banks
GLOBAL – A number of banks are launching retail FX offerings this year as they see growing opportunities for attracting flow from this market.
April strong for forex
NEW YORK – April was a positive month for FX trading, with platforms EBS and FXall both breaking respective trading volumes.
Differing approaches from the biggest players
Where you base your business is in some ways just as important as how it is run. Deutsche Bank's decision to move back into Tokyo this week with a full sales and trading operation shows that it has faith in the Japanese economy's ability to deliver…
Cliquet options for the longer view
Cliquet options embedded in a zero coupon structured product can be used to take advantage of a medium- to long-term view, suggests Jeffrey Todd Lins, director, quantitative analysis at Saxo Bank in Copenhagen
BNY signs Fundtech deal for corporates
NEW YORK – The Bank of New York (BNY) and vendor Fundtech have signed a deal enabling mid-sized banks to easily and affordably provide FX services to corporate clients.
RBC creates dual senior role
TORONTO & LONDON – Canadian bank RBC Capital Markets, has restructured its FX operations, implementing a new management hierarchy to reflect a more global focus.
Currenex takes algo plunge
NEW YORK – Currenex is moving into algorithmic trading with the launch of CX SmartOrder, a platform that enables customers to use a number of standard models or to create their own.
Reuters and CME to set up FXMarketSpace
LONDON & CHICAGO – Industry heavyweights Reuters and the Chicago Mercantile Exchange (CME) have confirmed plans to establish a centrally-cleared FX market-place for early next year, as reported by FX Week (May 1).
Deutsche Bank reorg sees return to Tokyo
GLOBAL – Deutsche Bank is to open a trading desk in Tokyo as it reorganises senior foreign exchange man agement across three continents.
Reuters and CME to set up FXMarketSpace
LONDON & CHICAGO – Industry heavyweights Reuters and the Chicago Mercantile Exchange (CME) have confirmed plans to establish a centrally-cleared FX market-place for early next year, as reported by FX Week (May 1).
Hedge funds down, but retail FX soars
GREENWICH, CONNECTICUT – Hedge fund FX trading has slowed down, while FX retail trading has taken up the slack, according to research from Greenwich Associates.