Post-trade
Verdict due on Beirut meeting
BEIRUT -- The fate of the global forex industry’s biennial meeting, due to take place in Beirut in just two months, will be decided on March 17.
Vol surge expected from east Europe
WARSAW -- Political events in countries slated to join the European Union and the euro are set to trigger a wave of FX volatility in emerging European countries, market participants told FX Week .
RBS FiXes benchmarks with EBS
LONDON -- The Royal Bank of Scotland (RBS) has gone live with a new benchmark engine for spot and forwards FX rates, called RBSFiX.
Economy buoys UK banks’ forex vols
LONDON -- UK banks have managed to avoid the widespread year-on-year downturns in foreign exchange revenues suffered by their US counterparts, financial reports revealed last week.
CLS settles a trillion a day
NEW YORK -- Continuous Linked Settlement, the new settlement service for foreign exchange, settled a record $1 trillion in FX payments on February 18.
Rusnak lessons still unheeded
NEW YORK -- Global banks are yet to implement key recommendations to limit rogue trading losses, one year on from John Rusnak’s record $700 million forex fraud.
Mid-market ripe for electronic FX trading
NEW YORK -- The corporate middle-market sector is ripe for growth in its adoption of electronic FX trading systems, analysts and vendors told FX Week .
Combined sales teams take off
LONDON -- The FX sales dealer may soon be a thing of the past if a new trend for cross-product sales teams catches on.
Heavyweights tackle rising un-named counterparty risk
NEW YORK -- Top FX banks are joining forces with central banks and industry groups to eliminate un-named counterparty risk.
India considers rupee options for corporates
MUMBAI -- The Reserve Bank of India (RBI) could allow banks to offer foreign currency-rupee options to corporate clients by April, according to a bank official.
Goldman's plan pays off
NEW YORK -- Goldman Sachs’ five year investment in foreign exchange is paying off, according to US banks’ financial results published last week.
Busy year ahead for FX committees
LONDON -- The forex committees of the eurozone, US and UK’s central banks will have a full agenda this year, senior officials told FX Week .
July - Top banks reap FX rewards
Top banks reap FX rewards
CLS showdown in 2003
LONDON -- The stage is set for a pitched battle for third-party CLS business in 2003, according to senior bankers interviewed by FX Week.
Israel completes shekel liberalisation
TEL AVIV -- The Bank of Israel last week announced the abolition of the last of its FX controls, making the new Israeli shekel fully convertible.
Citi endorses job sharing
LONDON -- Job sharing among forex professionals is becoming a growing trend in the markets, senior officials told FX Week .
Technology briefs
Bundesbank completes STP for foreign currency reserves
FX Week 2002 award winners
More than 1,000 banks, corporate treasuries and investors voted in our 2002 survey. Winners are listed below and split in to two pages from the links below. The Winners are pictured at the awards dinner held in London on November 21.
March - Atriax sunk by failed merger talks
Atriax sunk by failed merger talks
Commerzbank cuts in London
LONDON -- Commerzbank has shed four foreign exchange jobs in London, a source at the bank told FX Week .
Dawn of the superleague
The future of foreign exchange is outsourcing, say industry experts
Euro slumbers through ECB decision
FRANKFURT -- There was little reaction in the FX markets to the European Central Bank’s (ECB) decision to cut interest rates by 50 basis points last Thursday (December 5).
Investment banks cut FX
NEW YORK -- Lehman Brothers and JP Morgan Chase have cut FX jobs, senior officials told FX Week. The cuts are the first sign that forex may suffer as a result of the year’s depressed investment-banking activity -- so far the product has benefited from…
Unusual suspects boosted by the return of rate differentials
LONDON -- Interest rate differentials are making a comeback as a driving force in foreign exchange, as currencies backed by high interest rates continue to strengthen.