Trading
Standard Chartered gains French foothold
PARIS - Standard Chartered opened a branch in Paris on June 5 in response to the growth in its global corporates and financial institutions business in France.
Gain Capital's sideways glance pays off
Gain Capital topped this week's one-month forecast rankings by predicting a sideways environment with a positive dollar bent in the main currency pairs over the past few months.
Rescue the rouble
Igor Souzdaltsev, head of financial institutions at OTP Bank (Russia) in Moscow, calls to stave of another financial crisis
Rising dollar brings Parker FX down
STAMFORD, CT - The Parker FX Index produced a 0.01% loss in April, as the US dollar rose against a basket of G-6 currencies for the first time in several months.
India to allow exchange-traded FX futures
MUMBAI - Indian regulators have recommended the introduction of exchange-traded currency futures to further develop the India's foreign exchange markets.
Deutsche builds EM options
LONDON - Deutsche Bank has moved to enhance its emerging markets options capabilities with a key hire from Goldman Sachs in London.
Lloyds TSB expands in derivatives
LONDON - Lloyds TSB Corporate Markets is continuing to expand its global derivatives business, with two key hires for its foreign exchange derivatives trading team.
Short volatility strategies profitable again
LONDON - A short volatility strategy would have gained currency managers the highest returns in May, according to strategy research carried out by ABN Amro.
RBC Capital Markets cuts London forex
LONDON - RBC Capital Markets has made cuts to its London foreign exchange team in the wake of a fall-off in second-quarter results.
Saxo opens in Tokyo
TOKYO - Saxo Bank has announced it is opening a Tokyo office, Saxo Bank Japan, to expand its trading presence in the Asia-Pacific region.
Funds becoming more reliant on e-FX
STAMFORD, CT - Requirements to prove best execution have led to an increased reliance on electronic trading by fund managers and pension funds, according to research released on June 2.
More FX departures at Bear Stearns
NEW YORK & LONDON - Bear Stearns' foreign exchange team continues to suffer departures as the bank's FX business gets merged with that of JP Morgan.
Cultural change needed post-crisis
BOSTON - As banks and other market players seek to close risk management loopholes exposed by tottering markets, some post-mortems are homing in on a broader issue: corporate culture.
SPDR Gold Trust to trade futures and options
WASHINGTON, DC - US regulators approved trading and clearing for futures and options based on the Standard & Poor's Depositary Receipts (SPDR) Gold Trust, an exchange-traded fund (ETF), on June 2.
Forex volumes on CME up in May
CHICAGO - Average daily foreign exchange volumes at the Chicago Mercantile Exchange reached 621,334 contracts with a notional value of $87.92 billion in May, up 29% and 48% respectively on the same period last year.
More FX departures at Bear Stearns
NEW YORK & LONDON - Bear Stearns' foreign exchange team continues to suffer departures as the bank's FX business gets merged with that of JP Morgan.
OSE to launch FX margin trading market
OSAKA - The Osaka Securities Exchange (OSE) will launch a foreign exchange margin trading market in March next year.
Hedge funds keen on FX
STAMFORD, CT - Hedge funds increased their forex trading volumes by 180% in 2007, as global FX trading volumes rose 36% to $99 trillion, according to statistics released May 28.
Gold producer hedging drops to record lows
LONDON - Gold hedging plunged by another 18% in the first quarter of 2008, shrinking the global delta-adjusted hedge positions to 22 million troy ounces (Moz).
Between a rock and a hard place
Patrick Lefler, foreign exchange consultant at Wall Street Systems in New York, looks at the future of CLS as demand grows for bilateral netting
Top-ranked Calyon bets against USD
Calyon topped this week's one-month forecast rankings by predicting that the dollar's advance against the euro would be short lived, with more dollar-negative news yet to be absorbed.
Global heads quit StanChart
SINGAPORE - Standard Chartered has been hit by senior management departures in Singapore, amid the bank's continuing restructuring, launched at the end of last year.