Trading
ABN Amro beefs up forex in Singapore
SINGAPORE – ABN Amro has shifted more FX staff to Singapore in a further bid to centralise its Asia-Pacific forex business.
Augustus launches new currency fund
LONDON – Augustus Asset Managers (AAM) has launched the JB Currency Hedge Fund, a currency fund mixing discretionary and systematic investment techniques. The move marks the manager's first move into pure FX management.
Banks sign up to Bloomberg NDFs
NEW YORK – HSBC, Lehman Brothers, the Royal Bank of Scotland and Standard Chartered have committed to offering liquidity in non-deliverable forwards (NDFs) over the Bloomberg FX Dealing platform.
SSgA hits $100 billion mark
LONDON – State Street Global Advisors (SSgA), the investment management arm of State Street, has reached $100 billion in assets under management for its currency strategies.
Yen view carries RBC Capital Markets
RBC Capital Markets topped this week's three-month forecast rankings as a result of its bearish view on the yen.
Offshore relocation minimises forex processing costs
LONDON – Offshoring and rising cash FX and FX options trade volume have led to a significant reduction in cost per trade, according to a survey by London-based market intelligence firm Z/Yen.
Deutsche scales back on FXMS
LONDON & CHICAGO – Deutsche Bank has reduced its trading volumes on FXMarketSpace, the Reuters and Chicago Mercantile Exchange joint-venture platform. The decision lies behind a sharp fall in the volumes traded on FXMarketSpace in June, informed sources…
BIS confirms continuing importance of carry trade
BASEL – Foreign exchange carry trades continue to be a main driver of global exchange rate movements, according to the Bank for International Settlements’ 2007 annual report, released on June 24.
Australian dollar: a reserve currency
The potential for the Australian dollar as a reserve currency is evaluated by Divyang Shah , chief strategist at Commonwealth Bank of Australia in London
Dresdner driven by greenback
Dresdner Kleinwort’s view on the US dollar led the bank to beat SEB, Calyon and JP Morgan in FX Week’s one-month currency forecast ranking this week.
AXA IM forex fund targets institutional investors
LONDON – AXA Investment Managers (AXA IM) has launched its first active FX fund since creating a new currency management team last July.
List of e-FX Awards finalists drawn up
The shortlist for the FX Week e-FX Awards has been decided. This year we received an unprecedented number of submissions, each of a high degree of quality, demonstrating the increasingly competitive landscape for e-FX.
F&C gathers assets for FX volatility hedge fund
LONDON – F&C Alternative Investments has begun raising funds for its F&C Garnet Fund, a hedge fund targeting absolute returns by investing and trading in FX volatility and forward rate bias (FRB). The move indicates the growing prominence of volatility…
JP Morgan's reshuffle of management continues
LONDON & NEW YORK – JP Morgan has made further senior management changes under its newly structured global rates and G10 foreign exchange business.
Traiana leads the algo trading pack
It appears Traiana is onto a winner with its NetLink service. Since its launch in January this year, the vendor has managed to roll out the ticket netting engine to three platforms, starting with spot broker EBS, electronic communications network Hotspot…
FXMarketSpace enhances prime brokerage service
LONDON & NEW YORK – FXMarketSpace (FXMS) has joined the ranks of spot broker EBS and electronic communications network Hotspot FX by introducing the NetLink service onto the platform.
Derivative Fitch launches beta CFXO model
LONDON – Derivative Fitch last Wednesday (June 27) released a beta version of its Vector CFXO model for collateralised foreign exchange obligations, aimed at increasing transparency in the market and the understanding of its ratings.
Participating in a rangy/bullish spot
How can clients maximise potential gains from favourable spot moves while minimising the downside risk? Eric Ohayon of Bank of America in London investigates
Senior management shifts for ANZ FX sales
LONDON – ANZ has promoted David Wilkinson to a newly created role of head of currency and currency option trading for Europe and America. Wilkinson will be responsible for overseeing FX and FX options trading at the bank and will relocate from
RBNZ uses Reuters to intervene in spot market
AUCKLAND – The Reserve Bank of New Zealand (RBNZ) used Reuters’ spot matching system on June 11 to intervene in the spot Kiwi market for the first time, market sources say. The RBNZ intervened in the FX market to sell New Zealand dollars on June 11. This…
StanChart expands in e-commerce
Standard Chartered has hired Richard Koh, former regional head of e-channels for JP Morgan in Asia, in Singapore.
GBP/JPY currency pair added onto Icap EBS platform
LONDON – Interdealer broker Icap is today (July 2) enabling GBP/JPY trading over spot broking platform EBS.
JP Morgan's reshuffle of management continues
Chris Willcox and Matt Zames have been named co-heads of global rates and currency trading at JP Morgan, excluding Asia, including Japan. The pair will also co-manage JP Morgan’s North American corporate marketing, commercial bank marketing and global e…
Saxo debuts retail algorithmic tool
LONDON – Saxo Bank is today (June 25) launching its retail algorithmic trading tool, TradeCommander, in the UK market ( FX Week , January 8).