Trading
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
Parker down in October
The Parker FX Index reported a loss at -0.12% in October, as markets were marked by a depreciating US dollar, with the DXY Index declining to -1.85%.
Deutsche targets Russian corporates with Autobahn FX
Deutsche Bank will roll out its electronic trading platform Autobahn FX in Russia in 2011 as part of efforts to generate more flow from local corporates, according to a senior official at the bank in Moscow.
Corporates assess their hedging options
Ben Nicklin, FX structurer at Royal Bank of Scotland in London, looks at the rise of option-owning corporate hedging strategies
Trading Places, December 13, 2010
Read this week's Trading Places to catch up on people moves across the FX world.
Scotia backs euro ahead of dollar in 2011
Scotia Capital has topped this week's three-month currency forecast rankings with an accurate prediction of US dollar weakness following Federal Reserve chairman Ben Bernanke's hints of further quantitative easing (QE) in late August.
LCH.Clearnet beats CME in FX clearing race
LCH.Clearnet has signed 13 banks up to a new foreign exchange options clearing venture - ForexClear - due to open for business in late 2011, according to a statement.
Rabobank strengthens Asia desk with key hire
The Dutch bank has boosted its Hong Kong desk with the appointment of Jason Keg as head of FX and emerging markets, Asia, trading and sales.
StanChart boosts financial institutions coverage
Standard Chartered has made a key hire from JP Morgan in Asia as it looks to boost its financial institutions sales coverage in South and Southeast Asia.
FXCM partners with SuperDerivatives to launch options platform
Retail aggregator FXCM is joining forces with derivatives pricing technology vendor SuperDerivatives to launch an FX options trading platform by March next year.
Policy centralisation key to future of Eurozone, says Goldman’s O’Neill
Success or failure of the Eurozone hinges on Germany ‘laying down the law’, according to chairman of Goldman Sachs Asset Management.