Trading
Banks sign up for pre-settlement netting
NEW YORK – Several banks have signed up for an interbank pre-settlement netting solution due for launch by post-trade technology vendor Traiana in coming months, a senior official at the company told FX Week .
Banks sign up for pre-settlement netting
NEW YORK – Several banks have signed up for an interbank pre-settlement netting solution due for launch by post-trade technology vendor Traiana in coming months, a senior official at the company told FX Week.
EFX options broking sparks into life
Competition in electronic FX options broking is intensifying, with electronic brokers rolling out new tools to capture the growing business opportunity.
Three departures from SG CIB
LONDON – Société Générale Corporate and Investment Banking (SG CIB) has seen three departures in its interest rates and FX marketing team in London, market sources say.
Banca Italease restructures after losses
MILAN – Banca Italease is to reorganise its risk management and control processes, following the announcement of a net loss of €686 million ($937 million) from its derivatives business.
HSBC drawn up by drawdown
HSBC beat Merrill Lynch, Barclays Capital and Bank of America in FX Week 's one-month currency forecast rankings, by predicting the carry trade would unwind.
Parker index hits new high
STAMFORD, CONNECTICUT – The Parker FX Index reported a record return of 1.41% in June, with 58 indexed programmes reporting positive results and the remaining 21 reporting losses.
The effects of the subprime crisis
According to Michael Woolfolk , New York-based senior currency strategist at Bank of New York Mellon, US market players will focus on evolving developments in the subprime crisis, with global equities the preferred barometer for market risk aversion
Morgan Stanley hires Fed veteran for advisory role
HONG KONG – Morgan Stanley Investment Management has hired Dino Kos, former head of the markets group at the Federal Reserve Bank of New York, to lead a team advising on investment by central banks outside the US.
Deutsche adds in online flow
LONDON – Deutsche Bank has hired Eric Michelsen as head of online flow retail products. Based in London, he will play an integral role in developing Deutsche's global markets multi-product distribution business.
London FX volumes soar
LONDON & NEW YORK – Forex volumes in London have outstripped those of rival trading centres, as the city continues to reap the benefits of emerging market flows and dual time zones, according to figures released last week.
BNP Paribas boosts central bank sales
PARIS – BNP Paribas has strengthened its central bank and official institutions FX sales desk in Paris, with a senior FX sales hire.
Goldman head transfers to HK
TOKYO & HONG KONG – Goldman Sachs and JP Morgan are realigning foreign exchange management to capture growing opportunities in the Asia-Pacific region, market sources say.
Goldman head transfers to HK
TOKYO & HONG KONG – Goldman Sachs and JP Morgan are realigning foreign exchange management to capture growing opportunities in the Asia-Pacific region, market sources say.
Weak greenback benefits Scotia
Scotia Capital topped this week's one-month historical index by predicting broad weakness in the US dollar, said Camilla Sutton and Stephen Malyon, currency strategists at the bank in Toronto.
US regulators clamp down on retail FX dealers
CHICAGO – The National Futures Association (NFA) last week (July 24) took emergency action against Fort Lauderdale-based forex dealer member (FDM) Nations Investments, for being undercapitalised by $3.5 million – the largest undercapitalisation seen by…
Oanda launches multi-client FXManager
TORONTO – Online forex trading company Oanda has launched FXManager, an interface allowing money managers to more efficiently execute and manage multiple client FX trades.
Alliance & Leicester expands in derivatives
LEICESTER – Alliance & Leicester Commercial Bank is expanding its FX and interest rate derivatives capabilities to corporate and business clients.
Hedging the carry trade
How can an investor make the most of the carry trade? Lee Ferridge , head of trading strategy at Rabobank in London takes a look
Knight prepares EMS for FX
JERSEY CITY – Market-maker Knight Capital Group plans to integrate FX trading capabilities into version 3.0 of its Knight Direct EMS platform, due out in September, say officials.
The value in Asian currencies
Where does the value lie in Asian FX? David Mann , senior FX strategist at Standard Chartered Bank in Hong Kong investigates
Société Générale merges long and short swaps teams
LONDON & PARIS – French bank Société Générale has merged its short- and long-term swaps teams into a newly formed swaps group to boost its European flow rates business.
JP Morgan gets go-ahead for local incorporation in China
BEIJING – JP Morgan has received approval from Chinese regulators to establish a locally incorporated bank in the country.