Trading
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.
BoNY signs up to GFI's Fenics FX
NEW YORK - Bank of New York Mellon has signed a three-year licence for GFI Fenics FX, a pricing and risk management software system.
Wall St Systems launches ESN
LONDON & PARIS - Wall Street Systems is in discussion with a Tier II and two Tier III US banks for use of its pay-as-you-go post-trade processing utility, Electronic Settlement Network (ESN).
SWF assets reach $3.8trn
LONDON - Assets under management by global sovereign wealth funds (SWFs) are set to reach $10 trillion by 2015, according to a new report by International Financial Services London (IFSL), a private sector industry body.
Futures broker RCG buys MG Financial
CHICAGO & NEW YORK - Rosenthal Collins Group (RCG) completed the acquisition of online foreign exchange trading company MG Financial on October 15.
Icap gains foothold in China
BEIJING - Icap has cast a wider net into the Chinese foreign exchange market by forming a strategic partnership with the country's largest data and information vendor, Xinhua News Agency.
Currencies shine in Q3
NEW YORK - Record levels of volatility are ensuring rates and currency businesses continue to be the shining lights, as evident in third-quarter fixed-income results released by dealers last week.
City Index drops three in London
LONDON - Retail trading company City Index laid off three foreign exchange staff from its margin FX provider, IFX Markets, in London last Thursday (October 16), as it integrates the FX business with recently acquired FX Solutions.
BarCap picks Caplin for rates
LONDON - Barclays Capital has signed a contract to purchase web-based application Caplin Trader for its fixed-income electronic commerce system.