Foreign exchange
Investment banks drive for diversity
LONDON -- Investment banks are not known for being the most receptive working environments for women or ethnic minorities. The entertainment media perpetuates perceptions about the hard-drinking hard-working aggressive lifestyle of bankers on Wall Street…
MMS globalises forex analysis coverage
LONDON -- FX and fixed-income research firm MMS International has enhanced its forex analysis by globalising its coverage, said senior officials.
Reuters sues Bloomberg
Trading technology rivals’ battle heats up over forex patent claims NEW YORK -- US trading technology firm Bloomberg could be forced to stop using parts of its FX matching and conversational dealing technology, if its UK rival Reuters succeeds in a…
Philippine central bank mulls rule change for peso forwards
MANILA -- The Central Bank of the Philippines is considering lifting the six months restriction on peso forwards, its deputy governor Amando Tetangco told FX Week last week. However, he said the move was still in the planning stage, and that the monetary…
Reuters sues Bloomberg
Trading technology rivals’ battle heats up over forex patent claims NEW YORK -- US trading technology firm Bloomberg could be forced to stop using parts of its FX matching and conversational dealing technology, if its UK rival Reuters succeeds in a…
A ‘worst-of’ option to hedge dollar weakness
Andy Kaufmann, FX structurer at Merrill Lynch in London, explains a solution for an investor who is looking to benefit from a USD move against a variety of currencies
CFTC continues FX fraud crusade
WASHINGTON – The US Commodity Futures Trading Commission (CFTC) has continued its crusade against fraudulent retail FX firms in the US, with three enforcement actions so far in July.
CME brings futures to CLS
CHICAGO – The Chicago Mercantile Exchange (CME) has become the first exchange to use the continuous linked settlement (CLS) service, extending use of CLS into a new market.
CME brings futures to CLS
CHICAGO – The Chicago Mercantile Exchange (CME) has become the first exchange to use the continuous linked settlement (CLS) service, extending use of CLS into a new market.
Fimat forex launch in Poland
LONDON – Fimat Group, the brokerage arm of French investment bank SG, is developing new exchange-related FX futures contracts in eastern Europe in a bid to widen the currency product portfolio for its institutional client base, a senior official told FX…
FXall reaches profitability
New York – Multi-bank portal FXall now earns more than it outlays on a monthly basis, it said last week, over two years after its May 2001 launch.
Rupee options launch today
MUMBAI – Banks in India can start trading rupee/foreign currency options today, following the lifting of restrictions from the Reserve Bank of India (RBI).
HK’s FX clearing needs improvement – IMF
HONG KONG – Foreign exchange clearing supervision in Hong Kong needs to be improved, according to the International Monetary Fund (IMF). In a report published in late June, the IMF said although payments systems in the Special Administrative Region (SAR)…
EBS makes spot sterling drive
LONDON – Spot broker EBS last week made a bid for market-share in the sterling market – the acknowledged gap in its coverage of major currencies.
Rupee options launch today
MUMBAI – Banks in India can start trading rupee/foreign currency options today, following the lifting of restrictions from the Reserve Bank of India (RBI).
US investment banks’ revenues soar on back of investor demand
NEW YORK -- Strong investor demand is driving US investment banks’ fixed-income and forex revenues sky-high, according to first-half results released last week.
AIGforex under merger threat
GREENWICH, CT -- AIG Trading’s FX group faces an uncertain future as parent company Connecticut-based American Insurance Group (AIG) prepares to merge its AIG Trading and AIG Financial Products subsidiaries, sources close to the firm told FX Week .
Hedging solution for Canadian exporters
A series of Canadian dollar calls could be the solution to Canadian exporters’ concerns about the direction of US dollar/Canadian dollar, says Shaun Osborne chief currency strategist at Scotia Capital in Toronto
US investment banks’ revenues soar on back of investor demand
NEW YORK -- Strong investor demand is driving US investment banks’ fixed-income and forex revenues sky-high, according to first-half results released last week.
Rabo loses global FX head
LONDON -- Dutch Bank Rabobank is currently without a global head of foreign exchange following the departure of Gary Kaye from the London office last Monday (June 16), a spokesperson for the bank in Utrecht told FX Week .
Investors boost forex fund returns
NEW YORK -- Market trends and a surge in interest from investors is creating a bumper year for investment managers specialising in FX.
Top three make biggest gains
LONDON -- FX traders are used to hearing about the growing dominance of the top five or 10 banks in foreign exchange. But according to FX Week ’s exclusive yearly round-up of banks’ forex revenues, the process of consolidation is accelerating much more…
Top three make biggest gains
LONDON -- FX traders are used to hearing about the growing dominance of the top five or 10 banks in foreign exchange. But according to FX Week ’s exclusive yearly round-up of banks’ forex revenues, the process of consolidation is accelerating much more…
Banks counter IAS39 threat
LONDON -- Banks are developing new structuring models for corporate clients to ensure the IAS39 accounting standards do not result in a reduction of complex FX hedging activity.