Risk management
Sentiment indexes gain importance
LONDON -- Traders and investors are increasingly looking to new market sentiment indexes to help them manage their positions in the currency markets.
‘Illegal trading’ costs NAB $140m
MELBOURNE -- Australia’s largest bank, National Australia Bank (NAB), became the latest victim of alleged rogue forex trading last week. The bank said on Tuesday (January 13) that it had uncovered losses of up to A$180 million (US$140 million) from…
September - Quote unquote
"We jointly decided that the best move would be to increase its FX expertise" -- Jim Brown , managing director of TH Lee Global Internet Managers, on the departure of Currenex chief executive Lori Mirek in January
May - Banks’ operational risk lapse exposed
A special investigation by FX Week in May revealed a lapse in operational risk management at banks that do not separate risk management budgets from business lines.
JPMorgan Fleming to launch FX fund
LONDON -- JPMorgan Fleming will launch a fund in February based on research produced by parent group JP Morgan Chase.
Scandinavian banks look east
STOCKHOLM -- Scandinavian banks are expanding emerging markets teams in Europe and Asia as they seek to upgrade non-Scandi forex in preparation for the anticipated disappearance of the Swedish and Danish crowns.
Market eyes fresh dollar falls
LONDON -- Forex market analysts and traders are predicting fresh falls for the dollar in the coming months after euro/dollar hit successive record highs last week.
Dollar trend drives fund profits
STAMFORD -- The success of models in capturing early trend moves in the dollar drove 57% of currency fund managers in the Parker FX Index to achieve gains in October. But gains were limited, as the index was up only 0.6%.
UBS ousts Citi from top spot
LONDON -- UBS is the best bank in foreign exchange, according to a poll of nearly 1,000 voters in FX Week’s annual survey of the industry.
Rapid expansion takes prime brokerage into the mainstream
LONDON -- Exponential growth in prime brokerage is taking the service out of niche markets and into the mainstream, according to forex market specialists.
GFI buys exotic options model
LONDON -- Inter-dealer broker and market data firm GFI Group has bought options pricing model dVega, and integrated it with the latest release of its flagship options pricing tool Fenics FX, GFI will announce today (October 27).
Cashflow considerations in currency overlay
Active currency overlay can reduce the risk of adverse cashflow arising from a strategic hedge, say Andrew Davies, director of capital market research, and Damhnait Ni Chinneide, portfolio manager at Lee Overlay Partners in Dublin
UBS triumphs in currency derivatives
ZURICH -- UBS triumphed again in this year’s currency derivatives categories in FX Week ’s sister publication Risk magazine’s global derivatives rankings.
ACI Beirut Congress: exhibition preview
BEIRUT -- Between the challenging seminar programme and the exhaustive social schedule planned by hosts of the 43rd ACI World Congress this week, the 600+ delegates will get a chance to sample product demonstrations and promotions at the exhibition.
Forward hedge overlay for euro
A Middle Eastern importer could change its risk profile by overlaying its forward hedges, says Charlie Brown, head of structuring and solutions at Standard Chartered in London. By pairing euro puts at lower levels with euro calls, the importer can assure…
All eyes on the Middle East
Growing interest in Islamic banking, new technological developments and a wave of freshly repatriated money have put forex trading in the Middle East on the cusp of an exciting new era, reports Nikki Marmery
Dual deposits reap high-yield rewards
Ray Franzi, head of FX structuring at Dresdner Kleinwort Wasserstein in London, offers an opportunity for customers to achieve high Japanese yen deposit rates
Scandinavia beckons FX fund managers
LONDON – Low interest rates and relaxed legislation in Scandinavia and continental Europe could make institutional investors in those regions key prospects for currency fund managers.
PaR signals return of FX risk specialists
LONDON -- Growing interest from hedge funds in banks’ FX services have been a marked feature of the markets in the past 18 months. But that relationship can work both ways, reports one new currency fund, which has seen a wave of interest from banks…
PaR signals return of FX risk specialists
LONDON -- Growing interest from hedge funds in banks’ FX services have been a marked feature of the markets in the past 18 months. But that relationship can work both ways, reports one new currency fund, which has seen a wave of interest from banks…
German hedge fund reform raises FX hopes
MUNICH -- New proposals for the laws governing hedge funds and funds of funds in Germany could open up the market to a wider audience and heighten FX opportunities.
Politics mars eastern European FX process
BUDAPEST -- Political interference in Hungary’s monetary policy decisions could ultimately damage regional currencies and derail the accession process to the eurozone, analysts told FX Week .