Foreign exchange
Hedge fund signing for Deutsche Bank's Select
FRANKFURT - Deutsche Bank has added to its FX Select platform by signing Sagio's new FX hedge fund, according to FX Week sister publication Hedge Funds Review .
Currenex platform for Marex
LONDON - Marex Financial, a Refco spin-off, began offering Currenex's white label FX platform, FXtrades to clients last week.
ACI heads for Manila, but will anyone else?
The ACI's decision to hold its annual get-together in Manila has raised a few eyebrows to say the least.
FXall ownership speculation mounts
NEW YORK - The future ownership structure of FXall looks set to be decided within the next few weeks, as private equity firms submit their bids to adviser Goldman Sachs.
Two arrive, one leaves at ABN
GLOBAL - ABN Amro has made more changes globally in FX, with two key hires and a departure.
SunGard expands Asia-Pacific operations
TOKYO - Software vendor SunGard is expanding its operations in the Asia- Pacific region in 2006. It will provide solutions for trading, treasury and risk management, benefit administration and insurance. Other services include institutional asset…
Carry trades set to lose their sparkle
LONDON - Conditions for carry trades are likely to deteriorate further this year, according to French bank BNP Paribas.
Russian activity on the up
MOSCOW - Russia's stable economy, booming markets, soaring demand for financial services and growing number of high net-worth individuals, means banks are now investing in more FX staff in the country, say market participants.
Bank results need to be spelt out
Annual results season is here, and this brings a series of stories for FX Week on how banks' forex desks are performing.
Strong results at BarCap
LONDON - Barclays Capital reported strong growth in income and net trading income in its 2005 annual results. Total income increased 27% to £4.3 billion.
Reuters expands in China
EIJING - Reuters is significantly increasing its presence in China, signing five banks to its Dealing 3000 matching service and selling its Kondor risk management product suite to six.
Traiana goes live with forex options
NEW YORK - Software vendor Traiana went live with its foreign exchange options service on its Harmony Message Center (HMC) this month.
Future opportunities from EUR/CHF
Corvin Codirla and Adarsh Sinha, fx strategists at barclays capital in london, show that while low eur/chf volatility may be justified at present, investors should position for a pick-up further out
Staff build-up at Bank of America
NEW YORK - Bank of America (BoA) has made a trio of hires over the past month as it continues to build its forex capabilities.
Refco saga continues
NEW YORK – The Refco saga continued last week, with creditors vetoing a deal that would have seen the remains of the unregulated business sold to Forex Capital Management.
Senior management changes at Reuters
LONDON – Reuters is making two key changes to its senior management line-up as it seeks to boost its e-trading capabilities.
Bloomberg to create e-trading company
NEW YORK – Bloomberg is partnering with several major banks to launch an electronic swaps trading company, according to the data vendor.
Marex Financial takes FXall
LONDON – Independent brokerage firm, Marex Financial has started offering foreign exchange liquidity and trading services from FXall to clients in Europe, the Middle East and the US.
Saxo makes retail move
COPENHAGEN – Saxo Bank is making significant changes to its structure, as it seeks to boost its retail business with senior hires from the Danish business world.
Lloyds TSB goes live on 360T portal
LONDON & FRANKFURT – UK bank Lloyds TSB Financial Markets has gone live as a liquidity provider to German multibank portal 360T ( FX Week , January 30).
Mixed results for European banks
PARIS & ZURICH – There were mixed results for the European banks who reported their 2005 results last week, with Société Générale (SG) reaping the rewards of a strong year, while UBS saw a slight fall.
Algorithmic trading in FX – watch this space
With algorithms now being tailored to provide best execution, Stuart Crooks, European head of FX sales at FlexTrade Systems, says now is a good time to start looking into these products
Senior management changes at Reuters
LONDON – Reuters is making two key changes to its senior management line-up as it seeks to boost its e-trading capabilities.