Risk management
Standard Chartered adds fair-value model for yen
TOKYO – Standard Chartered last week introduced a fair-value model for the yen to take into account the growing interest in the Japanese currency.
Anonymity does not always equal profitability
FXall has jumped on the anonymity bandwagon, and the Reuters/CME venture offers another way to access liquidity discretely. But whether these ventures will succeed is debatable.
Bond and cyclical trades best for currencies
LONDON – Bond spread and cyclical divergence trades should make up a greater share of currency portfolio risk in coming months, according to research from JP Morgan.
Building long AUD/NZD positions with less risk
Besa Deda, Sydney-based currency strategist for the Commonwealth Bank of Australia, looks at how to gain long exposure to AUD/NZD amid high volatility
COESfx fined over fraud
WASHINGTON, DC – Two more cases of forex fraud were revealed last week, with US FX platform COESfx fined for misleading customers who suffered heavy trading losses.
BoA adds to London staff
LONDON – Bank of America (BoA) has made a number of hires in London as it continues to expand its forex capabilities in the City.
China approves cross-currency master agreements
BEIJING & HONG KONG – A master agreement for renminbi cross-currency forwards and swaps drawn up by China's foreign exchange regulator was approved by the State Administration of Foreign Exchange earlier this month.
Difference of opinion over future of exchange
NEW YORK – Opinions remain divided on whether the market has room for an FX exchange, according to a panel on the subject at the FX Week USA 2006 conference.
The Chinese way
A lot has happened in China since its accession to the WTO in 2001. Arnie Papp, general manager for Asia-Pacific at Calypso, explains the effect the changes have had on FX in the region
Integral completes forex trading offering
MOUNTAIN VIEW, CALIFORNIA – Integral, the US technology vendor, has launched FX Inside Plus to streamline and automate the entire foreign exchange trading process, from origination to distribution.
Conference vendor news
This year's New York event has more vendors than ever. Here we present a quick guide to what some of them will be promoting
Creating an algorithmic safeguard
Stuart Crooks, vice-president, sales for FlexFX in London, points to algorithmic trading as a way to keep up with the increasing speed at which the market moves
CLS in MarketSpace talks
NEW YORK – CLS is in discussions with Reuters and CME about the clearing element of the MarketSpace initiative, as the settlement system seeks to ensure its long-term sustainability.
FXC issues guidance paper on autodealing
NEW YORK – The Foreign Exchange Committee (FXC) has published a paper on autodealing, covering market impact and best-practice recommendations for dealers and prime brokers.
CLS in MarketSpace talks
NEW YORK – CLS is in discussions with Reuters and CME about the clearing element of the MarketSpace initiative, as the settlement system seeks to ensure its long-term sustainability.
High-frequency trading - the last gold mine in FX?
MONTE CARLO - High-frequency trading could be the only gold mine left in foreign exchange, according to Citigroup director Jessica James, speaking at Risk 's Derivatives and Risk Management conference in Monte Carlo last week.
LONDON - Yield strategies for currency funds are undergoing their worst period since 1998, according to research by ABN Amro.
The Dutch bank's naive simulations of different currency management styles show that the yield strategy incurred losses as the carry trade continued to unwind with yen, Swiss franc and Swedish krona all strengthening. Sterling was the only carry currency…
IT spending 'will double' by 2010
LONDON – Dealers will almost double e-commerce spending by 2010, according to research from client strategy firm ClientKnowledge in London.
E-trading for Calyon Financial
PARIS – Calyon Financial, the brokerage arm of French bank Calyon, last week launched an online forex trading platform called Calyon Financial FX Edge.
A simple strangle for EUR/GBP vol
Currency managers can insure against unexpected moves in the EUR/GBP using a simple low-cost method, says Neil Mellor, currency strategist at the Bank of New York in London
Who's who on the exhibition floor?
FX Week gives a rundown of some of the top exhibitors at this year's event. Find out who's showcasing what, then see the box below for those all-important entertainment listings
Diversifying through Africa
African basket options are a good vehicle for picking up yield and diversifying away risk, says Marios Maratheftis , FX strategist at Standard Charterd Bank in London
Currenex takes algo plunge
NEW YORK – Currenex is moving into algorithmic trading with the launch of CX SmartOrder, a platform that enables customers to use a number of standard models or to create their own.