Trading
Bringing it home
Naomi Fink, Japan strategist in global markets sales and trading at the Bank of Tokyo Mitsubishi UFJ says tax breaks in Japan won't be enough to encourage Japanese investors to repatriate their Brazilian profits to the country
Deutsche ETN yields top returns
NEW YORK - Deutsche Bank's Australian dollar currency exchange-traded note (ETN) has generated the highest three-month returns among those surveyed by FX Week , at 7.86% as of July 17.
ANZ sets sights on north-east Asia
HONG KONG - ANZ has expanded its Hong Kong office to create a new regional hub for its capital markets business and foreign exchange operations across north-east Asia, officials tell FX Week .
Another good quarter for FX
BOSTON & NEW YORK - US dealers posted record second-quarter revenues from foreign exchange business, as volatility remained high over the period.
BarCap rides the commodities surge
Barclays Capital topped the one-month currency forecast rankings this week by calling for a weaker dollar off the back of surging oil prices.
FX head quits Credit Suisse
LONDON - Credit Suisse has lost its head of UK foreign exchange sales, the Swiss dealer has confirmed.
Gray decamps from Saxo Bank
LONDON - Saxo Bank has lost its senior manager in institutional sales in London, the Copenhagen-based dealer has confirmed with FX Week .
Lloyds TSB expands forex solutions team
LONDON - Lloyds TSB Corporate Markets has made four hires in its corporate and institutional foreign exchange solutions team in London, as part of a continued effort to expand its risk solutions service.
Will we ever move to a fee-based model?
The competition to gain retail clients and white-label partnerships by retail trading companies and vendors is leading to more creativity in service provision.
JP Morgan live on FXSettle
CHICAGO - JP Morgan has emerged as one of the three prime broking banks using settlement system FXSettle on trading platform FXMarketSpace (FXMS).
Retail platforms in currency expansion
NEW YORK - Online FX trading companies CMS Forex and FXCM have added new currencies to their trading platforms, allowing retail traders to trade in emerging market currencies.
Taratunio joins Bank of America
NEW YORK - Senior foreign exchange salesperson Gary Taratunio is heading to Bank of America (BoA) in New York, after leaving JP Morgan last month.
FIX Protocol encourages more buy-in from emerging markets
FIX Protocol Ltd (FPL) has launched a new membership category that aims to encourage firms located within emerging markets to join and become active participants within FPL.
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…