Foreign exchange
MarkitServ unveils middleware connectivity service for FX clearing
New middleware tool is launched today after MarkitServ won competitive tender process with the top banks and was certified by three FX clearers
CLS appoints general manager for Asia-Pacific
Makoto Miyazaki joined CLS in Tokyo yesterday, replacing Kiyoshi Morofushi
Gavsie to replace Thorsen as BMO’s FX chief
CJ Gavsie will become head of FX products on March 31, following the retirement of Jamie Thorsen
FX Invest Europe: Investors cautious on prospects for renminbi
Currency managers express a preference for alternative emerging market currencies to Chinese renminbi
US dollar emerging from the woods, says SLJ Macro Partners
Weighing up the net effect of a negative outlook in the eurozone with positive growth signs in the US, Stephen Jen favours the US dollar
Buy the Indian rupee, says State Street Global Advisors
Having been bearish on the rupee for several years, the firm's head of currency management has become more positive in recent months, and now rates the currency as a top EM bet
Exploit relative-value opportunities in EM currencies, says Investec
Turkish lira versus the Israeli shekel is a favourite relative-value play for Thanos Papasavvas, fixed-income and currency strategist at Investec Asset Management
Aussie dollar is overvalued, says UBS Asset Management
Despite the strong performance of the Australian economy, the Aussie dollar is overvalued to "an extreme level", according to Jonathan Davies
Buy US dollar rather than EM currencies as a euro alternative, says Schroders
Clive Dennis, head of currencies at Schroders, doesn't share the widespread enthusiasm for EM currencies and recommends investors should buy the dollar as an alternative to the euro
LTRO has jump-started currency investors out of risk aversion, says Pimco
Currency investors appear to have moved away from risk aversion and become more interested in high-yielding EM currencies as a result of the ECB’s refinancing operation, according to Pimco’s head of FX
Singapore’s FX exemption welcomed as a sign of global consistency
A proposal by the Monetary Authority of Singapore to exempt FX swaps and forwards from mandatory clearing is seen as a positive move to harmonise treatment of FX with the US
FX strategy duo departs UBS
FX strategists Taso Anastasiou and Manuel Oliveri were based in Zurich with the Swiss bank
Industry establishes STP guidelines for offshore yuan
Swift releases guidelines to improve processing for offshore yuan transactions
FXall listing gets off to a soaring start
Shares in FXall surged on the first day of its IPO on the New York Stock Exchange, with participants expecting it to move into new initiatives as a public company
Euro sentiment turns upbeat after Greek deal
Politicians and strategists are cautiously optimistic on the euro, despite the considerable challenges that might lie ahead
LCH’s ForexClear awaits regulatory approval
FX clearing platform for NDFs is ready for launch, pending regulatory approval, LCH.Clearnet confirmed in its annual report today
Faros Trading continues hiring spree
Tom Doyle joins the Stamford-based firm from Morgan Stanley in New York
Afme liquidity conference: Buy side urged to stand up and be counted on regulation
Speakers at Afme conference call on buy-side firms to join the sell side in lobbying regulators and ensuring the future market structure is appropriately calibrated
HSBC builds out London RMB centre
Key appointment made to drive growth and strategy for the development of London as an offshore renminbi trading centre
Bonus season sees mixed results for US bankers
Recruiters covering the foreign exchange market report better-than-expected bonus packages at Citi and JP Morgan
Corporate backlash on costs of regulation continues
Banks will not be able to avoid passing on the hefty costs of regulatory reform to their buy-side clients, argued participants at the ACI UK’s annual square mile debate
Barx architects unveil MahiFX retail platform
David and Susan Cooney, who both worked on Barclays Capital’s flagship e-commerce platform in its early days, expect MahiFX to be available for trading later this month
EMFX: Go with the flow
Imran Ahmad, emerging markets strategist at Royal Bank of Scotland in London, says Hungary, Turkey and India stand to benefit from renewed support for emerging markets in 2012
FX clearing - the opportunity that never was?
Clearing of non-deliverable forwards has yet to get off the ground, despite clearers having switched their focus to the product during the course of last year