Risk management
IAS 39 sparks hedging concerns
LONDON – Accounting rule IAS 39 is causing distortions between economic reality and financial reporting, with rules regarding the use of derivatives likely to impede companies.
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.
JPMTS signs up CLS third party
BERLIN – JP Morgan Treasury Services has signed up ADM Derivatives as a CLS third-party client, as part of a solution the bank is offering, which includes a suite of multi-currency accounts.
Forex hits the wild east
ALMATY – The rapid expansion of the emerging market economies is forcing the development of local currency derivatives markets.
Keeping up to speed
Nigel Renton tells FX Week how the eSpeed FX platform competes in an already full market
Sign up for buy-side involvement
Olaf Ransome, head of transactions development and support at Credit Suisse in Zurich, calls on FX management to embrace plans to adopt an agreement that would make it much easier for the buy side to sign up to continuous linked settlement
360T moves beyond home territory
The fourth interbank platform profile sees Germany's 360T looking to expand
Keeping current at Currenex
In the second in a series of interbank profiles, FX Week looks at the prospects of Currenex
The tip of the eFX iceberg
GREENWICH, CT – Electronic FX volumes could hit a new wave of growth if the banks behind spot broker EBS' buy-side initiative stay committed, according to research by Greenwich Associates.
Foreign banks slammed in Seoul
SEOUL – Three foreign banks have been reprimanded by Korean authorities for selling inappropriate FX derivatives contracts to state-owned companies.
Asia takes electronic currency route
Electronic currency networks are coming to the fore in Asia as daily trading volumes reach an all-time high, according to Michael Weiner, co-founder and managing partner at CoesFx
US banks boosted by foreign exchange
NEW YORK – US banks have posted a strong Q2 for FX in recent weeks.
EBS joins algorithmic bandwagon
LONDON – FX trading platform EBS is to enable algorithmic trading over its platform as it enhances capabilities to expand the range of services available to the buy side.
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.
Predicting the unexpected
Extreme value theory is an effective way of predicting the large moves frequently seen in currency markets, says Collin Crownover, global head, investor risk advisory group at Citigroup in New York
Using probability for barrier placement
Mark Miklavs, director, structured derivatives at HBOS treasury services in London, develops an option hedging strategy to take advantage of the recent pick-up in volatilities by using normal distribution to provide a theoretical perspective on barrier…
Clampdown on speculators in Asia
JAKARTA – Asian authorities have clamped down on speculative trading, with a string of new FX controls across the region.
EM options taking the lead
LONDON – Emerging market currencies is the biggest market for options traders, according to a survey by sister publication Risk magazine, with these units representing more than a third of the total traded.
‘One size fits all’ is not appropriate
Sabrina Jacobs, FX strategist, capital markets, at Dresdner Kleinwort Wasserstein, says Asian currencies need to be looked at on an individual basis
HKMA limits spec trading
HONG KONG – Authorities clamped down on speculative trading on the Hong Kong dollar last week by introducing a ceiling on the currency at HK$7.75 per US dollar.
Q&A: John Nelson
To mark 15 years of FX Week , we carry a Q&A with our first subscriber, look at three major pairs opposite and run three of the key stories shaping the industry
Prime brokerage threatening banks
LONDON – Banks are charging far too little for prime brokerage to be profitable, according to market players.
Prime brokerage threatening banks
LONDON – Banks are charging far too little for prime brokerage to be profitable, according to market players.