Foreign exchange
Informa: Dollar miles ahead of flagging euro and sterling
Informa topped the one-month currency forecast rankings with a bullish dollar view amid turmoil over the euro and sterling.
Dealer withdrawal sparks record volumes on traditional forex systems
LONDON - Citi, Deutsche Bank, Barclays Capital, Bank of America Merrill Lynch and Natixis were among dealers that pulled liquidity from external platforms on May 6, sparking a record trading day on traditional liquidity hubs, EBS Spot and Thomson Reuters.
Option prices rocket over euro crisis and UK hung parliament
LONDON – Options prices shot up dramatically last week as liquidity fell, amid long-term concerns over the European Central Bank’s (ECB) handling of the eurozone deficit crisis and uncertainty about the outcome of the UK election.
Chinese forex regulator warns against 'hot money'
BEIJING - Xiaoyi Wang, deputy governor at the State Administration of Foreign Exchange (Safe) has warned against the inflow of 'hot money' into emerging markets, as the risk of a worsening asset bubble continues.
China draws on Japan experience
The message was clear at the FX Week China congress in Beijing last Tuesday, China will move on its currency, but at it’s own pace.
Trading Places 10.5.10
Read this week's people moves in the FX space across the globe.
Rieunier takes on options head role at Saxo
COPENHAGEN - Saxo Bank has hired Gustave Rieunier in a newly created position, global head of FX options and forward trading.
BAML woos David Woo and more…
LONDON & SINGAPORE – Bank of America Merrill Lynch (BAML) is adding to its sales and rebuilding its research capabilities with five hires made globally.
BNP Paribas: pound is going down
BNP Paribas topped the 12-month currency forecast rankings and made a top five appearance in the one- and 12-month year-to-date index, by focusing on changing global liquidity conditions.
UBS FICC revenues up in Q1
ZURICH – UBS experienced improving data from its fixed income, currencies and commodities (FICC) business in the first quarter, largely benefiting from a turnaround in the credit business.
Traders prep for more euro troubles
LONDON - Options markets are pricing in further euro downside risk, despite expectations a multibillion euro bailout package for Greece will be unveiled soon.
In Brief, May 3, 2010
What's going on in the FX technology sector.
CIBC continues markets restructure with FX strategy hire
LONDON & TORONTO - CIBC is expanding its workforce with two hires in newly created roles.
Sophis to partner with Windows 7 in May
PARIS - Sophis is planning an upgrade of Risque, its cross-asset portfolio and risk management system, to Windows 7 software from Microsoft.net at the end of May.
BarCap losses trickle on
LONDON & SINGAPORE - Barclays Capital (BarCap) has lost two more staff, following the mass exodus at the end of April.
Nomura wins three in global sales
LONDON & NEW YORK - Now the bonus rounds are over, the hunting season has begun. Nomura is reported to have hired sales staff from Barclays Capital in London and UBS in New York.
Trading Places, May 3, 2010
Find out about the movers and shakers in the FX world.
US forex back on form in first quarter
NEW YORK & BOSTON - Most US banks reported strong forex revenues in the first quarter this year versus last year, as the global markets start to recover.
Gain Capital: outer eurozone will drag euro down
Gain Capital topped the three-month currency forecast rankings with a bearish stance on the euro, having predicted the Greek debt crisis would spread to neighbouring economies.
Credit Suisse rebuilds spot in NY
Swiss dealer adds senior trader
RBS loses Usher but gains Gething
LONDON – Royal Bank of Scotland has lost Richard Usher, London chief dealer and EUR/USD spot trader, in a further senior departure from the bank.
Deutsche fined for Hungarian FX swaps
BUDAPEST - Deutsche Bank has been fined $455,441 by the Hungarian regulatory authorities for manipulating the forint to profit from foreign exchange swaps trades entered with local banks.
Euro loses as markets play it safe
Greece continues to dominate the headlines. However, the contagion effect to other eurozone peripherals as well as concerns over Chinese monetary tightening and proposed financial regulatory reforms have been driving financial markets recently –…