Trading
Averting the crisis
Nicholas Kwan, regional head of research, Asia, at Standard Chartered in Hong Kong, says Asian countries need to work together to avert the worst effects of the financial crisis
Westpac reports rise in FX revenues
SYDNEY - Westpac has reported a rise in foreign exchange and energy revenues amid heightened market volatility.
The need for speed
Irene Aldridge, quantitative portfolio manager and managing partner at Able Alpha Trading in New York, looks at what defines a good high-frequency system
AthenaTrader 4.2 features more FX tools
NEW YORK - Custom trading and testing software vendor Aegisoft will add new tools to the next release of AthenaTrader, aimed at giving the end user greater control of foreign exchange trades.
FX results up down under
LONDON & SYDNEY - Australian lenders ANZ and National Australia Bank (NAB) have announced strong full-year revenues for foreign exchange, despite revealing overall profits affected by tumultuous financial market conditions.
NFA in FX regulatory crackdown
CHICAGO - The National Futures Association (NFA) is proposing an overhaul of the regulations governing foreign exchange trading for members, in a bid to protect the interests of retail traders in the US.
Managed Models adds two new clients
LONDON - London-based data analytics company Managed Models has signed on two more banks, as institutions seek to add efficiency to foreign exchange liquidity management operations.
E-trading could free Asia from dollar dependency
SINGAPORE - The expansion of electronic trading could lessen Asia's dependency on the US dollar as a vehicle currency, according to Yosuke Tsuyuguchi, director of Bank of Japan's Centre for Monetary Co-operation in Asia.
A true test for Asian markets
"Don't panic, but be fearful" was the message at this year's FX Week Asia Congress, held last Tuesday (October 21) in Singapore.
Coupland expected to head forex sales at Lloyds-HBOS
LONDON - Nigel Coupland is tipped to become head of foreign exchange sales at the merged Lloyds TSB-HBOS entity in London, according to a London-based headhunter.
CME launches lira currency futures
CHICAGO - The Chicago Mercantile Exchange (CME) has launched Turkish lira currency futures, in an effort to deepen its footprint in emerging markets (EM) currencies.
Calls on low yielders overpriced
GLOBAL - Dealers report an overpricing on calls in low-yielding currencies, as investors move into less risky assets.
BNP Paribas ups the ante in forex
LONDON - BNP Paribas plans to roll out a new foreign exchange trading platform to select clients by the end of the year, in a bid to grow its presence in FX.
Citic admits $2bn loss
HONG KONG - Citic Pacific is being investigated by the Hong Kong Securities and Futures Commission after admitting it could face almost $2 billion in losses due to involvement in unauthorised currency hedging.
SEB's multi-manager fund thrives
STOCKHOLM - SEB's multi-manager currency fund has returned 2.45% over cash on a year-to-date basis and 48 basis points for September, say bank officials.
Dealers urged towards aggressive pricing
SINGAPORE - Panellists at last week's FX Week Asia Congress said dealers should use the turbulent market conditions to gain market share through aggressive pricing as competitors price spreads wider.
A return to vanilla
GLOBAL - Banks are preparing for a vanilla year next year in the derivatives market, as investors seek transparent structures in an environment of heightened volatility and inconsistent liquidity.
Lloyds riding high on flight to safety
Lloyds TSB topped this week's one-month forecast rankings, shortly after topping the three-month table, owing to a bullish yen and US dollar view based on volatility in the currency markets.
Three Nomura Lehman hires named
LONDON - Details continue to emerge about the identities of the 150 Lehman Brothers staff who made the move to Nomura in London two weeks ago ( FX Week , October 13).
Ex-Lehman staff form action group
LONDON - A group of around 30 former Lehman Brothers employees in London have formed an action group seeking to win compensation from the collapsed US investment bank.
Calyon tops charts with supple view
Calyon topped this week's one-month historical index with a timely transition from a bearish US dollar view to a bullish one.
The confusion over central clearing
Over the past month, the concept of central counterparty (CCP) clearing has taken centre stage, as concerns over counterparty risk consume the market in the aftermath of the collapse of Lehman Brothers in September.
Forex derivatives under scrutiny
MEXICO CITY - Mexican authorities will interview banks selling currency derivatives to corporates in the country, as part of an investigation into irregular reporting of exposures by listed companies.