Trading
A call to responsibility in foreign exchange
As Citi tops this year's Best Banks survey and the FX industry struggles with reputational issues, the bank should be commended for its philanthropic initiative, E for Education
Best Banks 2013: Citi reclaims top place from Deutsche
US bank has returned to top position in foreign exchange, having been voted best bank overall for FX dealing in the 2013 Best Banks survey
Tullett Prebon retains forwards gong amid Sef chaos
The interdealer broker retains its hold on the forwards market, despite the disruption caused by the start of the Sef regime
Bank of Montreal's strategy team awaits the taper tantrum
The imminent tapering of US quantitative easing will cause further weakness in the Canadian dollar in 2014, says Greg Anderson, BMO's new head of FX strategy
Industry calls for changes to benchmark practices
Ongoing investigations into manipulation of FX benchmarks have led to calls for changes to the way the WM/Reuters exchange rates are used
EBS Direct launch could reverse volume decline, say participants
The full launch of EBS Direct opens up a new market segment that could be an opportunity to claw back market share lost in recent years
StanChart creates global RMB trading team
New team headed by Charles Feng seeks to tackle time zone challenges by having renminbi traders located across geographies
ADS Securities rolls out multi-asset platform
New platform Orex Optim has now fully launched after two years of development and six months of testing at the Abu Dhabi-based firm
Saxo looks to capture the middle ground of hedge funds
Following a major restructure at the start of the year, the Danish bank is now looking at a new growth area - the delivery of multi-asset class support services, including capital raising, to emerging hedge funds
Esma repository approvals fire starting gun for EU trade reporting
Mandatory trade reporting for all asset classes will begin on February 12, but the FX industry is still grappling with the challenges of dual reporting
ForexClear launches client clearing for NDFs
LCH.Clearnet has launched buy-side clearing of NDFs on its ForexClear platform, a year after it gained approval from the UK Financial Services Authority
US pension fund sues seven dealers over FX benchmark rigging
Massachusetts-based pension fund Haverhill Retirement System is suing seven FX dealers for manipulation of the WM/Reuters benchmark rates
ECB speculation provides welcome diversion for investors
Currency investors are growing weary of QE tapering speculation and taking more of an interest in events in Europe, prompting big moves in the euro
EBS volumes fall to another record low in October
Continued low volatility in the FX market has pushed EBS volumes lower in October, as participants struggle to see an end to depressed market activity
EM sell-off will have lasting implications for currencies, says Natixis
Careful analysis of current accounts and export prices indicates Germany and Italy could benefit from the recent depreciation of emerging market currencies, but the US and the UK stand to lose out. By Patrick Artus
Swedish corporates feel the pinch of the krona’s strength
The Swedish krona has remained strong over the past year, creating challenges for Sweden's exporters that have found their profit targets dented by the FX headwind
When chatter could be construed as collusion
The FX benchmark scandal is casting a dark cloud over the industry, but regulators face a difficult task in determining whether there was genuine collusion
BBH's new sales head taps into the European buy side
Having recently relocated from Hong Kong back to London, Brown Brothers Harriman's Chris Gothard is now responsible for FX sales and relationship management in Europe. He talks to Robert Mackenzie Smith
TriOptima unveils UTI pairing service for Emir reporting
Icap-owned technology provider seeks to tackle the dual reporting challenge for paper-confirmed trades and FX trades without a common ID
SGX closes in on FX futures launch
Singapore Exchange plans to launch FX futures in six currency pairs on November 11 as it looks to gain an edge on rival exchanges that have been delayed in launching the product
ACT hires UBS's Meyer to run structured products venture
ACT Currency Partner continues its expansion with the launch of an FX structured products offering, managed by a veteran of UBS
Systematic strategies will bounce back, say managers
Despite the recent bankruptcy of FX Concepts, some currency managers believe systematic investment strategies could soon make a comeback
BNP Paribas embarks on three-year hiring spree in Asia
The French bank has plans to hire 1,300 staff in the Asia-Pacific region by 2016, with the aim of bolstering revenue by at least €1 billion
FX benchmark probe gathers pace as chief dealers placed on leave
Senior spot traders at JP Morgan, Citi and Standard Chartered have all been placed on leave, while Barclays, Deutsche Bank and UBS confirm they are conducting internal reviews in connection with alleged manipulation of FX benchmarks