Trading
Danske wins with range-bound euro forecast
The Danish bank accurately forecast on March 23 that EUR/USD would remain at 1.32 in a month’s time – a view that proved entirely accurate
Investors flock to the Mexican peso
Following significant appreciation of the Mexican peso during the first quarter of 2012, the currency has become a favourite emerging market bet for investors, and market participants believe it will stay that way. Melanie White reports
Overcrowded market for forex options platforms will lead to consolidation
With at least six new multibank options platforms now competing for market share, differentiation is crucial for participants, but some believe consolidation of platforms is also inevitable. Chiara Albanese reports
FX Invest North America: Eurozone crisis resolution still unclear
Panellists at FX Invest North America divided on whether the eurozone crisis will lead to the exit of Greece from the currency union
Economic recovery on track but risks remain, warns IMF
Global growth should rise from 3.5% to 4.1% next year, although capital flows into emerging markets give some cause for concern, according to a senior IMF official
Cyprus becomes latest stop in Saxo’s global expansion
Saxo Bank is continuing its move into new markets with the opening of a Cyprus office today, headed up by Vitali Butbaev
HSBC in Hong Kong retail forex foray with Oanda
HSBC launches margin FX trading services for retail investors in Hong Kong using technology by Oanda
ADS Securities pitches to high-net-worth individuals
The Abu Dhabi-based trading firm last week launched ‘Prime’, a new service targeted at professional and high-net-worth forex and bullion traders
Brakes remain on FX options clearing, despite regulatory easing
CPSS-Iosco working group ruled last week that CCPs do not have to guarantee settlement, but participants recognise the issue still has some way to run before options can be centrally cleared
Chart-topping CMC goes against the grain on yen
Strategists at CMC Markets took an accurate view on the long-term direction of two major safe-haven currencies in 2011, landing the firm top in the 12-month forecast rankings
Spotlight on: Raymond Kamrath, Faros Trading
Faros Trading has made a number of senior appointments to its sales team in recent months as it eyes global expansion from its headquarters in Stamford, Connecticut. Chief executive Raymond Kamrath talks to Chiara Albanese about the growth of the firm…
Fears over regulation raised by treasurers at ACT conference
Corporate treasurers complain about the unintended consequences of the proposed financial transaction tax, as well as clearing rules for OTC derivatives and Basel III capital rules
The quasi-extinction of free-floating exchange rates
Imran Ahmad and David Petitcolin of the emerging markets FX strategy team at Royal Bank of Scotland in London say the quest for growth by emerging and developed market nations has led to the quasi-extinction of free-floating exchange rates
City’s top brass throws weight behind London RMB initiative
London will become the next offshore centre for RMB trading, vows UK chancellor George Osborne, supported by banking chiefs from Bank of China, Barclays, Deutsche Bank, HSBC and Standard Chartered
Algo execution sales head departs Credit Suisse
Jonathan Wykes, formerly global head of FX sales for Credit Suisse’s algorithmic execution business, has left the bank
State Street back under spotlight as Connecticut attorney general investigates FX charges
US custodian bank in further pricing setback
Spotlight on: John Taylor, FX Concepts
The founder and chief executive of FX Concepts talks to Melanie White about the growth and diversification of the currency management firm over the past three decades, and his current views on major currencies
Credit Suisse loses head of FXPB
Paul Houston, Credit Suisse's London-based global head of FX prime brokerage, has left the bank
Currency floor breach raises questions over SNB policy
The Swiss National Bank should consider enlisting the help of top-tier banks to keep EUR/CHF above 1.20, forex traders suggest
FXall enters monthly volume contest with strong March results
Average daily volume on FXall in March was $90.4 billion, up 9% on March 2011
Veteran EM trader exits RBS for the buy side
Eric Lieberson has left Royal Bank of Scotland after 17 years, to join Civic Capital, a New York-based advisory firm set to launch a hedge fund later this year
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
Frontier currencies gain traction with investors
FX strategists and currency managers report growing interest in frontier currencies such as the Kenyan shilling, Ugandan shilling and Nigerian naira
Timing a reversal of fortunes for the euro and yen
John Hardy, chief FX strategist at Saxo Bank in London, picks out the shifts in the status quo in the months ahead