Foreign exchange
FX trading down for ABN Amro
AMSTERDAM – ABN Amro posted a large drop in income from foreign exchange dealing for 2005, despite a large increase in overall trading.
A new maturity for FX?
Justyn Trenner , chief executive and principal of consultancy firm ClientKnowledge, says a more discriminating approach to how liquidity is channelled is essential to the continued growth of the market
BarCap takes eFX options trading to the next level
LONDON – Barclays Capital last week became the first bank to launch live two-way streaming tradable prices for FX options.
JPM creates new reporting structure
LONDON – JP Morgan has introduced a new reporting structure in FX following the departure of Frank Rawlins, head of spot FX for Europe and global head of metals trading at the bank in London.
EBS to put data on sale
LONDON – EBS is to sell historical FX data to banks and non-bank traders via a new service called EBS Data Mine.
Lloyds looks to raise its FX profile
Lloyds TSB may not be well known for FX, but it has made a big-name hire that it hopes will enable it to continue buiding its presence in the fiercely competitive UK market
Knight Capital in landmark deal with Hotspot FXi
NEW JERSEY – Knight Capital last week announced plans to acquire electronic currency network Hotspot FXi in a landmark deal worth $77.5 million.
Hedging foreign currency earnings with basket options
By Ramon Espinosa , GFX-Portfolio and risk strategy, Jim Kamphoefner , GFX solutions and Andria McLintock , GFX options at Bank of America
EBS ends sale speculation
LONDON – Interdealer broker Icap last week confirmed it is in discussions to acquire electronic forex heavyweight EBS.
Commerz continues to rebuild
FRANKFURT & LONDON – Commerzbank has boosted its FX team with four new hires in London and Frankfurt, as it continues to rebuild after cutbacks in late 2004.
Sale offers a fresh start for EBS
And they're off! Yes it's finally out in the open, EBS is up for sale, and we've got a good idea who the runners and riders are.
EBS ends sale speculation
LONDON – Interdealer broker Icap last week confirmed it is in discussions to acquire electronic forex heavyweight EBS.
Tullett Prebon sets up volatility division
LONDON – Tullett Prebon has established a volatility division, in the final stage of restructuring since parent company, Collins Stewart Tullett, acquired Prebon Yamane in 2004.
And now, the weather, from CoesFX
PLAINVIEW, NEW YORK – New York portal CoesFX last week launched a tool to predict foreign exchange rates using a 'weather forecasting' format to enable users to factor in more variables.
Integral Development boosts staff
MOUNTAIN VIEW, CALIFORNIA – Integral Development, provider of capital markets products and services, has hired five staff in business development, finance, research and marketing.
Deutsche Bank cuts out $1 trillion
LONDON – Deutsche Bank cut out $1 trillion of what it described as 'predatory trades' last year, as it repositioned its business to make it more profitable.
BGC adds institutional FX
LONDON – BGC, the voice and electronic broking business of Cantor Fitzgerald, has confirmed the creation of an institutional FX trading desk.
This inequality must be reduced
The picture of the FX trader as a macho working class white male may to some degree be dated, but there is still not enough diversity in the market.
London behind on gender equality
LONDON – The paucity of women forex professionals in London is likely to persist as its reputation as a male-dominated arena continues, according to market observers.
Facilitate to accumulate
Kim Fournais, chief executive of Saxo Bank, says the race to deliver the perfect multi-product trading platform need not be a zero-sum game
BarCap adds CME options to Barx
NEW YORK/CHICAGO – Barclays Capital has become the first bank to provide CME eurodollar options strategies capability to its electronic trading system, Barx.
Korea to restrict currency data
SEOUL – The Bank of Korea (BoK) is set to restrict parties that are able to view real-time currency data, in a bid to curb currency speculation, from next month.
Milan bank makes cuts overseas
MILAN – Banca Popolare di Milano has closed its overseas FX capabilities and now operates exclusively from Milan.
Deutsche Bank cuts out $1 trillion
LONDON – Deutsche Bank cut out $1 trillion of what it described as 'predatory trades' last year, as it repositioned its business to make it more profitable.