Post-trade
CLS targets buy-side build-up
NEW YORK AND ZURICH – July saw CLS looking to expand into non-deliverable forwards (NDFs) and OTC options – a move that would pave the way for far greater buy-side participation on the settlement system.
Deutsche boosts prime brokerage
LONDON – Deutsche Bank upped the ante for prime brokerage providers by extending its offering with the introduction of options, non-deliverable forwards (NDFs) and increased processing capabilities.
Preparing for Korean won under-performance in 2006
Standard Chartered’s economics and FX strategy team suggest ways to position for a weaker Korean won in 2006
Bloomberg on the Wire
NEW YORK – Bloomberg is providing straight-through pro-cessing of swaps by linking its multi-dealer swaps trading platform to SwapsWire, an industry-backed electronic processing platform for over-the-counter derivatives.
Enigma – a cracking good model
Pete Eggleston, head of quant solutions at the Royal Bank of Scotland, financial markets, in London, discusses systematic trading of FX implied volatility using the 'Enigma' model
NYSE launches euro-linked shares
NEW YORK – The New York Stock Exchange (NYSE) last week launched shares linked to the euro, demonstrating the growing demand for exchange-traded currency products.
Causeway selects Misys Treasury Plus
LONDON AND NEW YORK – Causeway Capital Management (Causeway) has chosen vendor Misys Banking Systems (Misys) for increased efficiencies in the confirmation and settlement processes for money market and other financial instrument transactions.
M&G to sign with FX Connect
LONDON – M&G is set to sign up with FX Connect in the early part of next year, as it looks to take its FX transactions onto an electronic basis.
Travelex targets Aussie corps
MELBOURNE – Global forex specialist Travelex is set to target companies in Australia with the launch there of an online system early next year.
India to liberalise forex regulations
NEW DELHI – The Reserve Bank of India (RBI) looks set to liberalise rules governing forex transactions, cutting the red tape that limits the public's ability to buy and sell currency.
The passport option
Jeffrey Todd Lins, Director, Quantitative Analysis At Saxo Bank In Copenhagen, Suggests Passport Options As A Way To Maximise A Longer-Term View During Non-Trending Periods
New structure for RBS FXCM fined by NFA
NEW YORK – Futures commission merchant FXCM has been fined by the National Futures Association (NFA) for distributing misleading promotional material.
Casting a wider net
Olaf Ransome, head of product development & support transaction services & solutions, Credit Suisse in Zurich, advocates that CLS should diversify into emerging currencies sooner rather than later
Orchard leaves CSFB
NEW YORK – Nick Orchard, director in treasury operations at Credit Suisse First Boston (CSFB) in New York, has left the bank. Orchard, who left on November 30, spent 10 years at the bank, serving in Moscow, Zurich and New York.
Swiss e-swaps from ABN Amro
LONDON AND ZURICH – Dutch bank ABN Amro last week launched electronic trading in Swiss franc-denominated interest rate swaps (IRS), moving it across from the previous voice-only service.
Tullett Prebon enters China
SHANGHAI - Interdealer broker Tullett Prebon is boosting its presence in the Chinese market by establishing a joint venture broking business with Shanghai International Trust and Investment Corporation.
Invest in a carry basket EMTN
Christine Lefort, global head of FX Structuring at Calyon in Paris, suggests a way to extract returns from FX-linked investments in a time of low rate differentials
BoJ/MAS sign second swap agreement
TOKYO & SINGAPORE - An agreement between Singapore and Japan to trade swaps signed earlier this month is the latest sign of closer co-operation between Asian economies.
Deutsche Bank FX desk signs up to Iokio data navigation service
LONDON – Deutsche Bank's FX sales desk has signed up to a new data navigation service from Iokio.
Renminbi NDFs launch in Hong Kong
HONG KONG – Retail renminbi non-deliverable forwards contracts went live last week after the Treasury Markets Forum (TMF) of Hong Kong got the nod from the original seven member banks.
SG calls time in Montreal
MONTREAL AND TORONTO – Société Générale’s investment banking arm SG CIB has closed its Montreal FX dealing room, the bank confirmed.
Asian authorities relax FX controls
SHANGHAI & HANOI – Government authorities in China and Vietnam have taken further steps towards liberalising the capital account, with a series of relaxations introduced in recent weeks.
Russell signs up with Lava
TACOMA, WASHINGTON – Asset manager Russell Investment Group is pushing ahead with the expansion of its FX trading capabilities by signing on to a second electronic currency network.