Trading
Contrarian view boosts RBC to top of the 12 month rankings
RBC Capital Markets (RBC) topped the 12-month currency forecast rankings by maintaining its contrarian view on yen and Swiss franc strength.
What's ahead for 2011
Industry heavyweights tell us what’s in store for this year
IMF takes final step in changing SDR basket
Fund sets exchange rate for SDR; continues to peg unit of account to yen, dollar, euro and sterling
Asia to follow US on CCPs amid fears about hedging costs for exporters
Banks in Asia say there is no easy formula to decide whether moving over-the-counter foreign exchange instruments onto central counterparty (CCP) clearing would represent a lower-cost solution for their corporate clients, or whether they are better off…
Citi FX survey: Crisis prompts companies to alter counterparties, risk management approach
A Citigroup foreign exchange survey revealed that, as a result of the financial crisis, many companies have adjusted their mix of counterparties, increased their use of options relative to forwards and changed their approach to credit risk management.
Triumph in the midst of adversity
The past 12 months have been perhaps some of the most challenging for the foreign exchange market as it pushes to ensure it remains independently governed as an industry with its specific risks, while continuing on the growth trajectory aided through new…
BNP Paribas continues sales build
BNP Paribas is continuing to build up its sales coverage with two hires in London, the bank confirmed.
Gain charts breakdown between inverse dollar and commodities correlations
Gain Capital topped this week’s one-month currency forecast rankings by viewing the US dollar as oversold in the run-up to the Federal Reserve’s announcement of a second round of quantitative easing (QE2) at the start of November.
Sterling: A story of two halves
After a turbulent 2010, sterling will be bolstered by economic outperformance in the first half of next year, but its fortunes might be reversed in the second half, writes Michael Hart, director of FX strategy at Roubini Global Economics in London
Investors calm over euro threat
More than three out of five institutional investors believe fiscal issues will prevail in 2011, according to Barclays Capital’s inaugural Global Macro Survey, released last week (December 13).
South Korean regulators caution Barclays and JP Morgan on currency derivatives sales
South Korean financial regulator has issued an institutional warning to Barclays and a caution to an individual at JP Morgan for breaking local banking rules by selling inappropriate currency derivatives that are used in exporter hedging programmes
BAML launches e-FX trading platform for options
Bank of America Merrill Lynch (BAML) launched electronic FX options trading for institutional and corporate clients on its single dealer platform MLFX on Monday (December 13).
RBS appoints new head of North America trading
Royal Bank of Scotland has appointed a new head of North America trading for G-11 spot foreign exchange.
HKEx to launch NDF clearing facility by 2012-end
Hong Kong Exchange and Clearing (HKEx) plans to launch a central clearing facility for the local over-the-counter market, beginning with interest rate derivatives and non-deliverable forwards, by 2012-end.
SEB launches offshore Chinese yuan services
SEB has launched an offshore Chinese yuan (CNH) cash management, trade finance and foreign exchange business, officials announced today (December 13).
Value strategy up in November
Currency managers employing the value strategy are likely to have been the only managers to have generated positive returns in November, as the US dollar posted strong gains across all currencies, indicates research from Royal Bank of Scotland.
Icap pilots bank-only block trading platform for manual users
Interdealer broker Icap is today (December 13) beginning the pilot of a bank-only block trading platform for manual users of the EBS workstation, officials at the broker tell FX Week.
The curious case of Pure FX
There’s been a lot in the press in the past week about a consortium of banks looking to launch a bank-only platform to rival EBS Spot, having become disgruntled by the influence lost to high-frequency traders.
TMS to raise up to $50 million in IPO
Warsaw-based foreign exchange broker TMS is to list on the Warsaw Stock Exchange on January 7, officials tell FX Week.
BIS: 'Others' drive growth in FX market
The Bank for International Settlements (BIS) attributes 85% of the growth in FX market turnover in 2010 from 2007 to increased trading activity of other financial institutions, notably high-frequency traders, banks trading as clients of the biggest FX…
FXall releases Trading version 4.0
FXall is today (December 13) announcing the release of FXall Trading 4.0, which aims to bring together key benefits for all client segments including active traders, asset managers, banks and corporate treasurers.
The currencies to watch in Asia
Mitul Kotecha, head of global foreign exchange strategy at Crédit Agricole Corporate and Investment Bank in Hong Kong, looks at why the Asian currencies have fared so well in 2010 and whether their luck will continue next year