Trading
China not likely to relent over yuan
Michael Derks, chief strategist at retail trading company FxPro in London, says US disappointment with the pace of yuan appreciation looks set to continue
Global growth slows and assets shift
The hunt for yield is an increasingly important driver of FX, says Callum Henderson, global head of FX research at Standard Chartered in Singapore
Banks bags top sales job at BNPP
LONDON – Clive Banks has been promoted to the new role of global head of FX and local market sales at BNP Paribas in London, the bank confirmed today (Tuesday 21).
SGX AsiaClear aims to be Asia's CCP for rates and FX swaps
SGX president Muthukrishnan Ramaswami says the new interbank OTC clearing service for Singapore and US dollar interest rate swaps will target Asian banks as a start, and soon global investment banks that trade with Asian counterparties. Asian local…
Service outage hits Barclays Capital's first OTC clearing client
Client clearing glitch highlights the complexity of what is expected to be a major new business.
RBC gets bullish on USD
RBC Capital Markets tops this week’s one-month currency forecast rankings due to a bullish view on the yen.
StanChart takes Solace for FX data messaging
Standard Chartered has rolled out hardware-based messaging vendor Solace Systems’ 3260 message routers, to provide low-latency data distribution between the bank’s offices to support its new global FX trading platform.
Triple hire for Macquarie Private Wealth Asia
Macquarie hires three senior executives to boost its private wealth operation in Asia
Regulation, Fragmentation and Execution Where to Next for High Frequency FX Trading?
Regulation established in the wake of the financial crisis to promote market integration, together with new norms being considered for high-frequency trading in equity markets, may unnecessarily complicate the FX market, says Chip Lowry, chief operating…
4Cast cautious over Australian dollar
4Cast topped this week’s one-month currency forecast rankings by predicting that a risk-averse market would follow the dollar sell-off in July.
OECD warns on global slowdown
G-7 growth set to slow to 1.5% in the second half of the year; chief economist advocates more QE if slowdown does become entrenched
Fixi selects Integral to support expansion into institutional FX
LONDON - Foreign exchange broker Fixi has signed Integral as the technology vendor to support plans to target the institutional FX market, officials say.
Dealers target hedging activity in the Philippines
MANILA – While authorities in the West increase derivatives regulation, the Bangko Sentral ng Pilipinas has liberalised rules governing both hedging and yield enhancement markets in the past few years. Despite the challenges of penetrating a market…
IG up despite Japan retail leverage cap
LONDON - IG Group reported a 16% rise in revenues for the third quarter, to £79 million, versus the same period last year, despite new caps on leverage for retail traders in Japan.
US employment: Settling for less
The US August employment report came in better expected, removing some near-term risk of a double dip but still pointing to pervasive weakness, says Julia Coronado, senior US economist at BNP Paribas in New York
Retail brokers evolve to meet regulation
NEW YORK - Retail brokers in the US continue to shape up internal business practices to abide by best practices introduced by industry regulator the National Futures Association (NFA).
Morgan Stanley hires trading head in Asia
David Hong has joined Morgan Stanley as a managing director and head of FX and emerging markets trading for Asia, based in Hong Kong.
Scotia Capital: Focus moves back to the dollar
Scotia Capital topped the three-month currency forecast rankings this week on its prediction the euro would benefit from a shift in focus from the European sovereign debt crisis to worsening US economic data.
UK structured products stuck on repeat
An unfavourable pricing environment and investor caution is resulting in a series of familiar structures in the UK market. A few variations in underlying are evident but all come back to income
Deutsche Bank enhances Autobahn FX for FXO
LONDON - Deutsche Bank has built out its trading capabilities for forex options on electronic trading platform Autobahn FX, as competition for electronic business moves to the options market.
Exchange volumes continue rise in August
CHICAGO – Volumes in foreign exchange products on the Chicago Mercantile Exchange were up 15% in August, with 11.7 million contracts traded a day on average, the exchange said last week.
JP Morgan slashes commodities desks
Fate of other prop desks unclear ahead of enactment of Volcker Rule
The risks of ongoing imbalances
Pete Luxton, global economic adviser at Informa Global markets in London, looks at the implications of the ongoing external imbalances
Non-banks lead 20% rise in FX turnover
BASEL - The global financial crisis has led to a slowdown in the growth of the foreign exchange markets, with most activity shifting to the investor community from the trade-based flow.