Trading
ETrade to launch US retail FX trading
NEW YORK – Electronic broker ETrade will make FX trading available to US retail investors in five currencies via its Global Trader platform by this Friday (July 27). GlobalTrader has been piloting since February ( FX Week , February 26).
Sterling shifts towards fixed-income
Sterling's sources of strength amid slowing M&A activity are analysed by David Bloom and Paul Mackel , of HSBC's London-based FX strategy team
VWD switches FX providers to Tenfore
FRANKFURT – Data vendor VWD Group is to replace FX data provided via its internet- and terminal-based data products with new data sourced from UK-based Tenfore Systems' Tenforex feed, officials said.
GL Trade acquires Infotec in forex push
PARIS – Technology vendor GL Trade has purchased Infotec, a Swiss real-time market data vendor, to extend its coverage of products and increase its buy-side presence. Infotec's FX trader and treasury management users will in turn use GL Trade's order…
Icap speeds up FX data feed
LONDON – Interdealer broker Icap last week (July 11) announced it had improved its EBS Live spot data feed by reducing processing and communication latency.
Cyclical euro/dollar drives Danske
Danske Bank topped the one-month forecast rankings for the third week in a row, as a result of the bank's cyclical view of EUR/USD.
AUD/USD moves towards fair value
After a year and a half of undervaluation, the AUD/USD is finally close to its fundamental fair value, says David Forrester, Australia and New Zealand FX strategist at Barclays Capital in London
Trend strategy down this year
LONDON – Currency funds trading the trend strategy are likely to be down on a year-to-date basis, according to research by ABN Amro.
Keeping pace in an explosive market
Rick Schumacher, product manager at Wall Street Systems in New York, explores recent transformations in the FX market and the new challenges and opportunities these present for banks
Currency volatility sparks record trading volumes
CHICAGO & LONDON – Volatility in currency markets led to record trading volumes on spot broking platform EBS and the Chicago Mercantile Exchange (CME) last month.
Margin trading platform race gathers pace
The race to launch a margin trading platform continues to gather pace, with at least two further banks in the process of signing deals with online trading companies to launch retail platforms.
ABN Amro beefs up forex in Singapore
SINGAPORE – ABN Amro has shifted more FX staff to Singapore in a further bid to centralise its Asia-Pacific forex business.
Banks sign up to Bloomberg NDFs
NEW YORK – HSBC, Lehman Brothers, the Royal Bank of Scotland and Standard Chartered have committed to offering liquidity in non-deliverable forwards (NDFs) over the Bloomberg FX Dealing platform.
Yen view carries RBC Capital Markets
RBC Capital Markets topped this week's three-month forecast rankings as a result of its bearish view on the yen.
BIS confirms continuing importance of carry trade
BASEL – Foreign exchange carry trades continue to be a main driver of global exchange rate movements, according to the Bank for International Settlements’ 2007 annual report, released on June 24.
Australian dollar: a reserve currency
The potential for the Australian dollar as a reserve currency is evaluated by Divyang Shah , chief strategist at Commonwealth Bank of Australia in London
Dresdner driven by greenback
Dresdner Kleinwort’s view on the US dollar led the bank to beat SEB, Calyon and JP Morgan in FX Week’s one-month currency forecast ranking this week.
AXA IM forex fund targets institutional investors
LONDON – AXA Investment Managers (AXA IM) has launched its first active FX fund since creating a new currency management team last July.
Participating in a rangy/bullish spot
How can clients maximise potential gains from favourable spot moves while minimising the downside risk? Eric Ohayon of Bank of America in London investigates
RBNZ uses Reuters to intervene in spot market
AUCKLAND – The Reserve Bank of New Zealand (RBNZ) used Reuters’ spot matching system on June 11 to intervene in the spot Kiwi market for the first time, market sources say. The RBNZ intervened in the FX market to sell New Zealand dollars on June 11. This…
GBP/JPY currency pair added onto Icap EBS platform
LONDON – Interdealer broker Icap is today (July 2) enabling GBP/JPY trading over spot broking platform EBS.
BIS report notes low volatility
LONDON – FX markets were characterised by high levels of turnover and historically low volatility in 2006, according to the Bank for International Settlements' (BIS) 77th annual report, released today (June 25).
GFI brokers first algorithmic trade of forex option
Interdealer broker GFI brokered the first screen-based algorithmic trade of an FX option through its option trading platform, Forexmatch, last month.
SEB carried by short-term view
A carry-friendly view has helped SEB beat Barclays Capital, JP Morgan and Lehman Brothers in this week's one-month currency forecast rankings.