Trading
Algorithmic trading comes of age
Last summer's resurgence in market volatility highlighted the role of algorithmic trading in maintaining the active flow of electronic liquidity.
Currenex platform revamp boosts corporate coverage
NEW YORK - Currenex has released a redesigned platform in an effort to boost activity from the corporate market, FX Week has learned.
EUR/USD correction puts BNP on top
BNP Paribas topped this week's three-month forecast rankings by predicting a correction in EUR/USD, led by US dollar weakness.
NFA shuts down four FX dealers
CHICAGO - Four foreign exchange brokers were forced to close operations last month after failing to meet the National Futures Association's (NFA) $5 million minimum net capital requirements.
Coming on strong
Lydia Kranner, analyst at RZB in Vienna, evaluates the prospect of Chinese yuan appreciation in 2008
The final frontier
Win Thin, senior currency strategist at Brown Brothers Harriman & Co in New York, evaluates the investment prospects for the frontier markets
There's nothing as certain as change
Happy New Year! As we enter 2008, one thing is for certain - the evolution of the foreign exchange industry continues at an unprecedented rate.
FXall posts record volumes for 2007
LONDON - Multibank portal FXall reported record annual trading volumes of over $13.4 trillion - single count - in 2007, a 37% rise over 2006 figures.
The power of pessimistic thinking
SEB tops this week's 12-month forecast rankings as a weaker-than-consensus view on the US dollar materialised over the course of the past year.
Yen carry traders dealt New Year blow
LONDON & TOKYO - Several dealers were caught out when rolling over short yen positions in GBP/JPY carry trades over the New Year period as the yen surged against the pound, traders told FX Week .
Trading levels show growth of forex as asset class
LONDON & CHICAGO - Interdealer broker Icap and the Chicago Mercantile Exchange (CME) reported record foreign exchange trading volumes in 2007, demonstrating the continued adoption of forex as an asset class.
SWFs look beyond the US dollar
NEW YORK & HONG KONG - The greenback is likely to be the main loser as sovereign wealth funds (SWFs) diversify into yen and other non-euro currencies, say analysts.
Forex results strong in Q4
NEW YORK - Goldman Sachs and Morgan Stanley reported strong results for foreign exchange in the fourth quarter of 2007, despite challenging market conditions.
Yen carry traders dealt New Year blow
LONDON & TOKYO - Several dealers were caught out when rolling over short yen positions in GBP/JPY carry trades over the New Year period as the yen surged against the pound, traders told FX Week.
Goldman Sachs launches FX algos
LONDON - Goldman Sachs plans to debut foreign exchange trading algorithms in the first half of 2008, as part of a strategy to gain market share.
BGC loses FX chief but gains e-commerce head
LONDON - Interdealer broker BGC Partners has lost its London-based managing director of foreign exchange, but has strengthened its e-commerce capabilities with a key hire in the City.
ANZ triumphs with bearish USD view
A bearish view on USD has helped ANZ climb to the top of FX Week 's one-month forecast rankings.
G-10 currencies face a grim 2008
John Hydeskov , senior FX analyst at Danske Markets in Copenhagen, predicts the road ahead for G-10 currencies in light of an ongoing financial crisis
Lehman gains from CBA split
SYDNEY - The Commonwealth Bank of Australia's (CBA) decision to split its global markets and treasury business is playing into the hands of local competitors Lehman Brothers and the National Australia Bank.
Lehman sees forex up but fixed income down in Q4
NEW YORK - Lehman Brothers has achieved strong foreign exchange revenues for the fourth quarter, despite suffering big losses in fixed income.
Subprime crisis drains FX bonus pool
LONDON - Staff at banks worst hit by the subprime crisis are due to face reductions in cash payouts, sources tell FX Week .
Banks brace for algo trading boom in 2008
As the industry continues to digest the credit market's meltdown, foreign exchange trading volumes continue to boom. Representatives of the major FX banks, Credit Suisse, HSBC and Saxo Bank, discuss the main technology trends in e-FX trading to watch in…