Trading
Bank FX price feeds fall short
LONDON - Banks must improve their foreign exchange pricing and trading infrastructure or risk losing order flow, according to currency traders.
Euro pessimism pays off for 4Cast
4Cast topped this week’s three-month currency forecast rankings with a dual prediction for a decline in the euro and yen.
Asia's currencies steady under pressure
Callum Henderson, global head of foreign exchange research at Standard Chartered in Singapore, says the Asia play is far from over, despite the recent pullback in the region’s currencies
Nexaweb melds FX pricing, trading on new platform
Burlington, MA-based Nexaweb Technologies, a provider of web-based business applications, has released a trading and price-discovery platform for foreign exchange markets, with pre-configured data connectivity, aimed at banks seeking to deploy a web…
Controversial swaps legislation survives as US Senate passes bill
WASHINGTON, DC - Foreign exchange swaps and forwards counterparties are being included in new rules blocking swaps dealers and major swap participants from federal government support.
BBVA looks to Taiwan for growth
TAIPEI – BBVA will, in the coming weeks, apply to the Taiwan financial regulator to open a locally incorporated unit on the island, as the bank continues to look for expansion opportunities across Asia.
Hogan calls it a day at Nomura
Canice Hogan, head of fixed-income flow sales for Europe, Middle East and Africa at Nomura, retired on Friday, May 14.
UniCredit hires new head of FX cash
LONDON - UniCredit has hired Beat Nussbaumer as European head of FX cash. Based in London, he will start on May 17, reporting directly to Nick Crawford, global head of FX in London.
Glory Sky sees potential with GFI Fenics
NEW YORK & HONG KONG - Glory Sky Group, a Hong Kong brokerage house, has chosen GFI Fenics’ Professional to help manage its FX and commodities derivatives business.
Euro and sterling – love to loathe
Daragh Maher, foreign exchange strategist at Crédit Agricole in London, discusses the struggle of the euro and sterling in the face of recent political events, and asks which is winning the battle of the battered
Concerns over euro remain despite rescue bid
Last week's news of a €750 billion international rescue package for struggling economies on the edge of the eurozone initially lifted the euro, but concerns persist about the indirect effects of the bailout, and the area's underlying economic prospects.
OCC announces new directors
The Options Clearing Corporation (OCC) has named Craig Abruzzo and Valar Mihan as directors, and appointed director Paul Brody as vice-chairman. Brody replaces Gary Yetman, who completed his term at the end of April.
Headhunters report temporary hiring freeze in wake of volatility
Headhunters on both sides of the Atlantic have reported a distinct slowdown in foreign exchange hiring as banks take advantage of the high level of volatility to make some much-needed profit, thus halting candidate interviews.
Downes steps down at Citi
LONDON & HONG KONG – Nick Downes, head of FX bank sales for Europe, Middle East and Africa at Citi in London, resigned last week, according to market sources. Meanwhile, in Hong Kong, Stephenni Xie is reported to have joined Citi in FX sales.
BIS: FX derivatives notionals grew slowly in late 2009
The BIS reported a small increase in total outstanding FX derivatives in the second half of 2009.
European banks benefit from weaker euro
European banks reporting last week showed stronger balance sheets as the euro fell, but little growth in their FX businesses.
Briefs 17.5.10
Read this week's Briefs section to catch up on technology news.
Trading Places 17.5.10
Read Trading Places for this week's movers and shakers in the global FX space.
Informa: Dollar miles ahead of flagging euro and sterling
Informa topped the one-month currency forecast rankings with a bullish dollar view amid turmoil over the euro and sterling.
Dealer withdrawal sparks record volumes on traditional forex systems
LONDON - Citi, Deutsche Bank, Barclays Capital, Bank of America Merrill Lynch and Natixis were among dealers that pulled liquidity from external platforms on May 6, sparking a record trading day on traditional liquidity hubs, EBS Spot and Thomson Reuters.
Option prices rocket over euro crisis and UK hung parliament
LONDON – Options prices shot up dramatically last week as liquidity fell, amid long-term concerns over the European Central Bank’s (ECB) handling of the eurozone deficit crisis and uncertainty about the outcome of the UK election.
FXall adds trade analytics
NEW YORK – Investment Technology Group (ITG) launched a transaction cost analysis service in co-operation with trading platform FXall, last week.
Fixnetix Launches FX Trading and Data Services
LONDON - UK-based low-latency data and trading technology vendor Fixnetix has launched packaged services for firms trading foreign exchange, targeted both at pure FX traders and market makers, as well as high-frequency trading firms trading FX as part of…
Chinese forex regulator warns against 'hot money'
BEIJING - Xiaoyi Wang, deputy governor at the State Administration of Foreign Exchange (Safe) has warned against the inflow of 'hot money' into emerging markets, as the risk of a worsening asset bubble continues.