Trading
Icap quells fears with positive Q2 results
LONDON - Interdealer broker Icap quelled fears over the future performance of its businesses last week, by reporting a 15% rise in second quarter revenues compared with the same period last year.
Banks and hedge funds spur growth in OIS trading
LONDON & NEW YORK - Central bank activity has contributed towards a surge in trading overnight index swaps (OIS) over the past year, according to dealers.
Parker FX Index back on track in May
STAMFORD, CT - The Parker FX Index recorded a 0.08% return in May as the US dollar appreciated 0.5% against a basket of G-6 currencies.
Time for a rethink
The weak dollar and high implied volatility in currency markets has claimed a number of victims in the corporate sector. Dealers discuss the shift in clients' hedging strategies. By Gail Mwamba
Scandinavian currencies boost Tradebook FX expansion
LONDON, NEW YORK & SINGAPORE - Bloomberg Tradebook FX has added Scandinavian currencies to its FX outrights trading, bringing the total number of currency pairs to 32.
Internalising flow threatens brokers
As banks begin looking at ways to internalise flow, the big question is what it will mean for electronic brokers such as EBS and Thomson Reuters.
BoA in global reshuffle
NEW YORK, CHARLOTTE & LONDON - Bank of America has consolidated its global rates, currencies and commodities (GRCC) and credit products (GCP) businesses into a newly formed global fixed-income platform.
Pakistan shuts rupee FX forwards
KARACHI - The State Bank of Pakistan suspended foreign exchange forwards trades and shortened FX trading hours last Wednesday (July 9), in a bid to curb a sharp devaluation of the rupee (PKR) against the US dollar, say local traders.
Wesselius joins Deutsche
AMSTERDAM, ATHENS & LONDON - Deutsche Bank has hired BNP Paribas' former foreign exchange sales head for the Netherlands to lead its Dutch FX coverage.
e-FX AWARDS 2008: A celebration of innovations and evolution
The e-FX awards celebrate best practice and innovation in the forex market. The increasingly demanding needs of clients from the sell side to the buy side have meant technological developments continue at full throttle. This year was no exception. In…
Icap shares suffer amid slow growth speculation
LONDON - Speculation of a fall-off in currencies, rates and credit products growth at Icap caused a sharp fall in the monthly share value of the London-based interdealer broker last week.
Dresdner makes bold 12-month call
Dresdner Kleinwort topped this week's 12-month forecast rankings by predicting a significantly weaker US dollar as the US housing market woes spread into the wider economy.
SmartStream boosts post-trade with TLM Treasury Confirmations
LONDON - London-based technology vendor SmartStream Technologies has launched TLM Treasury Confirmations for FX, money market and over-the-counter trades, in response to market demands for enhanced post-trade capabilities.
TraderTools gets smart with liquidity
NEW YORK AND PARIS - FX trading technology vendor TraderTools has implemented Smart Trade's STTP 5.5 liquidity management system for use within its Liquidity Management Platform.
Talk isn't so cheap
Will the G-7 precipitate a major dollar turning point through stronger rhetoric or co-ordinated intervention? Arnab Das, global emerging markets and FX strategist at Dresdner Kleinwort, expects beefed-up rhetoric, but no action, yet
Moumdjian quits BoA
NEW YORK - Harry Moumdjian, principal and head of electronic solutions sales for North America at Bank of America in New York, has resigned from the bank.
Credit Suisse integrates forex algos into Minerva OEM
LONDON - Credit Suisse has become the first broker to integrate foreign exchange smart routing and algorithmic execution strategies into Fidessa LatentZero's Minerva order and execution management system (OEMS), with automated execution services (AES) FX.
Yield strategies pocket best returns
LONDON - Currency managers running yield strategies typically bagged the highest returns in June, according to research by ABN Amro.
The technological arms race continues...
One of the key takeaways from the FX Week USA congress last Tuesday is that the unrelenting spend on technology seen over the past few years is unlikely to end. A quick poll of delegates found that two-thirds will spend more on technology in fiscal year…
Merrill Lynch's trend focus pays off
Merrill Lynch topped this week's three-month forecast rankings by predicting a mild dollar recovery against G-10 currencies, on the back of a trend in improved external imbalances in the US.
The JB Currency Hedge Fund thrives on risk aversion
LONDON - Augustus Asset Manager's currency fund delivered an 18.87% net-of-fees return in its first 11 months by avoiding risk in emerging markets and G-3 currencies.
CME posts surge in Q2 forex volumes
CHICAGO - The Chicago Mercantile Exchange (CME) reported a strong increase in contract volumes in second-quarter results released last Tuesday (July 1).