Risk management
Thomson adds Icap tick data
JERSEY CITY & LONDON - Interdealer broker Icap is making historical tick data for foreign exchange, fixed-income and interest rate products available through Thomson Reuters, in a bid to broaden its client base among algorithmic trading, valuation and…
Value managers come up trumps in October
LONDON - Currency managers using the value strategy are likely to have fared well in October, a month described as one of the most volatile in history, according to research by the Royal Bank of Scotland.
RBS sells e5m note linked to new FX Radar
LONDON - Royal Bank of Scotland (RBS) has sold its first structured product linked to the new FX Radar Index, an automated index linked to 20 emerging market currencies.
The need for speed
Irene Aldridge, quantitative portfolio manager and managing partner at Able Alpha Trading in New York, looks at what defines a good high-frequency system
AthenaTrader 4.2 features more FX tools
NEW YORK - Custom trading and testing software vendor Aegisoft will add new tools to the next release of AthenaTrader, aimed at giving the end user greater control of foreign exchange trades.
NFA in FX regulatory crackdown
CHICAGO - The National Futures Association (NFA) is proposing an overhaul of the regulations governing foreign exchange trading for members, in a bid to protect the interests of retail traders in the US.
Dealers urged towards aggressive pricing
SINGAPORE - Panellists at last week's FX Week Asia Congress said dealers should use the turbulent market conditions to gain market share through aggressive pricing as competitors price spreads wider.
The confusion over central clearing
Over the past month, the concept of central counterparty (CCP) clearing has taken centre stage, as concerns over counterparty risk consume the market in the aftermath of the collapse of Lehman Brothers in September.
Wall St Systems launches ESN
LONDON & PARIS - Wall Street Systems is in discussion with a Tier II and two Tier III US banks for use of its pay-as-you-go post-trade processing utility, Electronic Settlement Network (ESN).
Central bank turns broker
ISTANBUL - The Central Bank of the Republic of Turkey (CBRT) has stepped in to broker interbank foreign exchange trades, in a bid to quell fears over counterparty risk in the local FX market.
Japan traders dump short yen positions
TOKYO - Japanese retail foreign exchange margin traders abandoned $16 billion worth of short yen positions within days last week, in a scramble to limit losses from unwinding carry trades.
Strike while the iron is hot
Pete Luxton, economic adviser, and Shant Movsesian, manager, foreign exchange options, at Informa Global Markets in London suggest a basket strategy to play euro weakness
JSE trades first $20m options contract
JOHANNESBURG - The Johannesburg Stock Exchange (JSE) has traded its first currency options contract with a notional value of $20 million.
Korea delays liberalisation
SEOUL - South Korea's Ministry of Strategy and Finance is considering delaying the liberalisation of the country's foreign exchange market, due to current global market volatility.
Cutting costs
Pat Lefler, director, product marketing, at Wall Street Systems in New York, looks at ways smaller banks could reduce their trade-processing costs and remain competitive
Citi's Alpha trumps Beta
LONDON - Citi's Alpha 1 foreign exchange investable index is outrunning its Beta 1 counterpart, as the market looks at more sophisticated investment strategies to mitigate risk amid heightened volatility.
US meltdown spurs central clearer debate
LONDON & NEW YORK - The fallout from the collapse of Lehman Brothers and implosion of insurance company AIG has spurred renewed debate over the central-counterparty model for spot foreign exchange, as concerns over counterparty risk take centre stage.
FXPB versus CCP put to the test
With concern over counterparty credit risk at such elevated levels, some question what this will ultimately mean for the smaller banks out in the market-place.
Strong Q3 for Goldman and Morgan Stanley
LONDON - Goldman Sachs and Morgan Stanley revealed strong third-quarter performances for their currencies operations, despite analysts casting doubt over the future of both businesses as standalone investment banks.
Lehman's fall leads to liquidity drought
GLOBAL - Heightened concerns over counterparty credit risk caused a dry-up of liquidity in the currency markets last week, as dealers feared a domino effect from the collapse of Lehman Brothers on Sunday, September 14.
Fenics Enterprise takes off
NEW YORK & LONDON - GFI is today (September 22) announcing the launch of Fenics Enterprise through Fenics FX 11.1, the latest version of its pricing and risk management software.