Investment
Investors keen on double-short euro ETNs
NEW YORK - Morgan Stanley's Market Vectors double-long leveraged euro exchange-traded notes (ETNs) have outperformed their double-short counterparts by almost 30 times in trading volumes.
Death by association
The application of credit technology to diverse underlyings led to the birth of collateralised foreign exchange obligations in 2006. But despite being built from uncorrelated underlyings, their fortunes have proven highly correlated with the wider market…
Deutsche Bank continues ETN issues
NEW YORK - Deutsche Bank has launched four commodity-linked exchange traded notes (ETNs), in response to growing demand from retail and institutional investors for exposure to the commodity markets.
A matter of preference
Jeffrey Todd Lins, director of quantitative analysis at Saxo Bank in Copenhagen, advances the tired debate over hedging versus alpha generation in wealth management.
Oiling the FX wheels
The Royal Bank of Canada is offering capital protection with a new FX-linked product that is based on currencies from six countries, including two of the world's biggest oil producers
Choosing the right carry strategy
Nikki Marmery reports on the proliferation of carry trade indexes and outlines the key differences between the main banks' offerings
EM indexes stand strong
LONDON & NEW YORK - Indexes linked to emerging market currencies have withstood market shocks, as products launched in the past year show steady returns.
European dealers post record FX results
ZURICH & FRANKFURT – Losses linked to the credit crisis have overshadowed what has been a bumper third quarter for foreign exchange dealers, according to results released last week.
Safeguarding against carry correction
It would be prudent to protect profits from a potential correction of recent carry trade trends, says Ian Stannard , Senior Currency Strategist at BNP Paribas in London
Credit Suisse joins index bandwagon
LONDON – Credit Suisse has launched FX Rolling Optimised Carry Indices (ROCI) for forex carry trade investors.
Parker Global launches investable forex index
STAMFORD, CONNECTICUT – Investment consultant Parker Global Strategies (PGS) has launched PGS FX Alpha Edge, an investable foreign exchange index.
IFX launches multi-manager fund
LONDON – IFX Capital Markets, part of IFX Group, has launched a currency multi-manager portfolio targeted at retail and institutional customers.
Currency product ‘growth to continue’
LONDON – Demand for currency-linked structured products is set to continue into next year, according to market participants who have already posted strong sales this year.
A strategy for yen appreciation
With faster economic growth, yen appreciation will happen. It is just a matter of timing, says Trevor Williams, chief economist at Lloyds TSB Financial Markets in London
Refco’s demise offers risk and reward for competitors
NEW YORK – Refco’s woes are having wider implications for the forex market, with the suspension of the platform sending shockwaves through the industry.
Hedge fund interest in forex continues
London – High profile banks and investment houses are launching currency fund of hedge funds (FOHFs), showing the continuing interest as FX as an asset class.
Capping downsides, tapping upsides
Jeffery Todd Lins (right), director of quantative analysis, and Peter Ager Hafez, senior research associate, at Saxo Bank, suggest a mechanism to cap the downside risk while allowing for upside potential in the absence of options on a currency fund
Regional FX investments take off
LONDON -- Sales of investments linked to baskets of regional currencies have taken off as investors search for yields from broad macro themes in Asia and central Europe.
Currency funds taking off
LONDON & COPENHAGEN – Currency funds are coming to the fore, as more players in the FX market launch vehicles to meet investor demand.
New Turkish lira causes surge of activity
ISTANBUL – The new Turkish lira (TRY) is seeing strong demand across Europe only a month after its rebasing, said industry insiders.
Private bankers boost structured products sales
LONDON – Private bankers are buyoing the expanding market for structured products linked to currency movements, in a bid to provide more attractive yields to their clients.