Trading
A spot of bother
Traders exploiting the spread between CNH deliverable forwards and CNY NDFs got a nasty surprise in September last year, when the basis trade blew up amid a reversal of the spread. Georgina Lee looks at what investors can learn from this turn of events
Depressed FX trading volumes continue in March
Average daily spot volume on EBS and Thomson Reuters remained low in March in comparison to previous years, both platforms have reported this week
UK Lords committee takes on financial transaction tax
The model proposed by the European Commission for a financial transaction tax would not meet its objectives and the UK government should redouble its efforts to veto the proposal, says the House of Lords
Oanda unveils new social networking-based spot platform
Oanda's fxUnity platform, unveiled this week, is aimed at making FX trading simpler and more user-friendly for aspiring currency traders
Tradeo to launch with social trading network
New social networking site will allow FX traders to connect to their peers – and to trade
Correlation breakdown tells a cautionary tale
John Hardy, chief currency strategist at Saxo Bank in London, discusses his views on the currency markets, sounding a note of caution about the risk rally seen since the start of the year
Transparency of public listing will boost FXall’s growth, says Weisberg
In his first series of interviews since its IPO last month, FXall chief Phil Weisberg says the public disclosure and neutrality that results from being publicly listed will improve its public standing and growth potential
FXCM and SuperDerivatives to add new pairs to options platform
Since its launch in July last year, the DCX joint venture has now attracted nine liquidity providers and plans to add new emerging market pairs
Market divided on sustainability of yen slump
Barclays Capital has revised its USD/JPY forecasts upwards, but other banks believe the recent fall of the yen will turn out to be a short-lived trend
Gil Mandelzis to replace Rutter as EBS chief
David Rutter is to leave Icap, as the interdealer broker restructures its electronic broking business
GFI soft-launches NDF risk-mitigation platform
GFI Group recently extended its ForexMatch Liquidity Swaps platform to new currency pairs, including USD/TWD and USD/CNY
Bank focus on new options platforms intensifies
Tradeweb recently became the latest technology provider to launch a multibank trading platform for FX options, as a handful of new platforms compete to harness liquidity in the product. More than a year since the first platforms went live, which ones…
Spotlight on: Carl James, BNP Paribas Investment Partners
The head of fixed income and foreign exchange dealing talks to Chiara Albanese about the challenges for the buy side that arise from new regulation, as well as the potential value that can be gleaned from algorithmic execution and transaction cost…
Saxo turns in 6% income growth, despite tough Q4
Annual results for 2011 reveal a 4% fall in net profit, but Saxo claims that is due to a 12% increase in staff and admin costs to support expansion
Move to electronic trading will increase hedge fund use of futures
Competition among buy-side companies and repercussions of Dodd-Frank will push hedge funds to trade electronically, says research from Tabb. Futures trading, mainly electronic, will also increase.
BNP Paribas rolls out Cortex FX single-dealer electronic platform
The French bank today unveiled its long-awaited e-commerce platform, which replaces the white-label FX eTrader offering it launched in late 2009
Commerzbank revamps e-commerce platform to include FX structuring
The German bank will migrate existing clients this month from Click&Trade FX onto its rebranded Commander platform
FX Invest Europe: Banks are retreating from market-making, managers warn
FX investment has become more challenging, as market-making banks facing new regulation have become less willing to take risk
FX Invest Europe: Developed market currencies still important despite EM buzz
The recovery of major economies will be crucial to the profitability of FX markets, despite the greater returns to be generated from emerging market currencies, according to conference speakers
Banks welcome Tradition-Icap’s volatility fix
The daily fix could pave the way to the creation of new volatility-based derivatives, say participants
UK banks ramp up RMB resources in London
Both RBS and HSBC have made senior appointments to prepare for the growth of renminbi in London. The new business heads talk to Chiara Albanese about their priorities
Yield makes a comeback
Two months into 2012, Mitul Kotecha assesses the modest healing process that appears to have taken hold in currency markets after a period of marked risk aversion, and explains why yield is becoming a key factor influencing investor appetite
Greek deal brings early signs of calm in spot and options
Options traders say markets are reflecting a more relaxed view on the euro than in previous months, particularly following this week's Greek rescue package
FX markets driven excessively by 'headline noise', says Aviva’s currency chief
Volatility in foreign exchange markets has been driven increasingly by a desire to re-price on the back of every headline, says Pierre Lequeux, head of currency management at Aviva Investors