Settlement risk
Indian market opens up
MUMBAI -- Reform of India’s FX rules could create the next large emerging market, signalling a lucrative new area for banks to exploit.
Client trading volumes rising
LONDON -- Booming hedge fund interest and an increasing number of client banks in the market are boosting global customer forex volumes, according to data from research consultancy Greenwich Associates.
CLS interest picks up in Asia
SINGAPORE -- Asian financial institutions are becoming increasingly aware of the continuous-linked-settlement (CLS) service, according to research made public by ABN Amro last week. Just 30% of respondents in the bank’s survey of its clients in the…
Trading practices yet to change post-CLS
NEW YORK -- Banks are reporting little change in the way they trade as a result of using the new continuous-linked settlement (CLS) service, according to an official survey out this week.
Tech glitch strikes CLS
NEW YORK -- The failed settlement of over 20,000 Australian dollar and Japanese yen trades on the Continuous Linked Settlement (CLS) service last week was caused by multiple technical faults, senior CLS officials told FX Week .
Tech glitch strikes CLS
NEW YORK -- The failed settlement of over 20,000 Australian dollar and Japanese yen trades on the Continuous Linked Settlement (CLS) service last week was caused by multiple technical faults, senior CLS officials told FX Week .
ECB highlights dangers of over-concentrated market
FRANKFURT -- Market consolidation and a reliance on electronic trading could lead to an over-concentration of risk and liquidity among too few market participants, the European Central Bank has warned.
Asian forex still untapped
SINAGPORE -- Five years on from the Asian financial crisis, FX trading opportunities in the region remain largely untapped, market participants told FX 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.
Traders reap rewards in LatAm markets
MEXICO CITY -- As clients and banks scour the globe for volatile FX markets, Latin America has become a key battleground for new FX business, senior market participants told FX Week .
BIS expands derivatives data
BASEL -- The Bank for International Settlements said last week that it is expanding its statistics on banks’ country risk exposures to include data on derivatives exposures to individual countries.
January - Prime brokerage kick-starts the year
From the Allfirst Financial scandal to the launch of CLS, you read it here first in 2002. FX Week reviews the top news stories of last year
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.
August - The race for CLS clients
The race for CLS clients
Technology briefs
Bundesbank completes STP for foreign currency reserves
Japanese FI goes international
TOKYO -- Japanese fixed-income investors added $25 billion of global forex volume in the past year through diversification of their portfolios, according to a report made public last week.
New market, new risks
LONDON -- The structure of the FX market is developing at a rapid pace, said Paul Fisher, head of the Bank of England’s FX division. That brings new opportunities -- but also new risks, Fisher told delegates at FX Week’s inaugural congress held in London…
CLS may affect credit lines
LONDON -- The new settlement service for forex, Continuous Linked Settlement (CLS) could reduce the importance of credit lines in forex, delegates at the inaugural FX Week Congress heard last week.
Top five dealers close ranks
Shrinking market rewards top players in biggest ever forex survey
AIG joins CLS as new shareholder
LONDON -- American International Group (AIG) has become a shareholder of CLS Group Holdings, the holding company for Continuous Linked Settlement (CLS), the firm announced last week.
Congress bites
CME launches online futures tool
Citi to outsource e-liquidity
Forex giant goes online to service growing ranks of 'buy-side' banks
BIS: e-FX may impact liquidity, volatility
BASLE -- Market participants fear the rise of electronic trading may adversely impact liquidity and volatility in the FX markets, according to the Bank for International Settlements (BIS).