Trading
New Deutsche indexes map currency correlation in Asia
SINGAPORE - Deutsche Bank has launched a set of indexes designed to capture returns generated by the apparent growing co-ordination of currency policy among Asian central banks.
BGC departs retail FX
LONDON - Interdealer broker BGC Partners is exiting the retail foreign exchange market to focus on core interdealer broking business, a source has told FX Week .
Woe is USD
The US financial crisis needs to deepen to realise a structural super-bearish USD view, says Mike Gallagher, director of research at IDEAglobal in London
Citi and Goldman break into retail FX
NEW YORK & COPENHAGEN - Citi and Goldman Sachs are breaking into the retail foreign exchange market by launching an online FX margin trading platform and buying a 10% stake in an online retail CFD company, respectively.
India to trade rupee futures
MUMBAI - The Reserve Bank of India (RBI) is preparing to introduce rupee futures to create more hedging tools in light of rising capital inflows.
Sterling effort from Lehman Brothers
A consistently bearish position on sterling has helped Lehman Brothers reach third place in FX Week 's one-month currency forecast this week.
Banks expand Asia research
SINGAPORE & HONG KONG - Asian analysts are in hot demand as a number of banks build up Asian research teams to match client interest in the region's emerging economies.
Icap follows new pricing model for EBS
LONDON - Interdealer broker Icap is introducing a volume-based pricing model for electronic spot broking system EBS, as it evolves to fit the changing landscape.
Former Fimat e-forex chief joins Hotspot FX
JERSEY CITY - Chris DeFilippo, former New York-based head of electronic foreign exchange at institutional brokerage firm Fimat is today (November 26) starting at electronic communications network (ECN) Hotspot FX.
Constantia upgrades
SAN FRANCISCO - Calypso Technology has been licensed by Austria's Constantia Privatbank to provide a cross-asset class platform for front, middle and back office.
BarCap strengthened by weak USD
A bearish USD view has helped Barclays Capital beat rivals Citi, Informa Capital Markets and HSBC in this week's one-month currency forecast rankings.
Mifid spurs e-trading growth
LONDON - Best execution requirements under Mifid could boost growth in electronic foreign exchange volume, according to a keynote address at last week's FX Week Europe event.
New Swift solution aims for better processing
NEW YORK - Bloomberg is teaming up with industry messaging co-operative Swift to tackle the division between the front, middle and back offices when processing foreign exchange trades.
Retail sets the pace for future of forex
LONDON - The retail market is likely to set the standard for the future of foreign exchange, said panelists at the FX Week Europe conference last Tuesday.
StanChart introduces electronic NDF trading
LONDON - Standard Chartered began offering electronic trading in emerging market non-deliverable forwards (NDFs) over proprietary electronic platform Straight2Bank Web and through multi-bank platform FXall on November 13.
FX algos no longer just for big players
LONDON - Gaining an edge in foreign exchange execution through trading algorithms is no longer the domain of just the largest forex dealers, according to a panel at the FX Week Europe congress last week.
UBS makes more changes to FICC team
ZURICH - UBS has unveiled further changes to its newly created fixed income, currencies and commodities (FICC) division, less than a month after revealing substantial third-quarter losses relating to the subprime crisis.
How to prepare for reduced volatility
In the aftermath of credit-related market turmoil, Neil Mellor, currency strategist at The Bank of New York Mellon in London, suggests a way to prepare for a return to more historically typical levels of volatility
Apama users given more algo options
Trading technology vendor Progress Software has integrated the Progress Apama algorithmic trading platform into electonic communications network Accelor.
SWFs more likely than central banks to diversify FX assets
LONDON - Sovereign wealth funds are much more aggressive in diversifying foreign exchange assets than central banks, says Mansoor Mohi-uddin, the managing director of FX stategy at UBS.
UBS makes more changes to FICC team
ZURICH - UBS has unveiled further changes to its newly created fixed income, currencies and commodities (FICC) division, less than a month after revealing substantial third-quarter losses relating to the subprime crisis.
More forex departures at Bank of America
YORK - Further changes at Bank of America's foreign exchange business have emerged as the US dealer realigns FX with its rates business.
Electronic FX volumes expected to reach 80% by 2010
NEW YORK - Electronic foreign exchange trading will account for 80% of the overall FX market by 2010, according to research released last week.