Trading
Automation hot for Russia
MOSCOW – Automation was the central theme at the third annual international foreign exchange seminar in Moscow last Tuesday (May 15).
Lehman hires in London and Hong Kong, loses in NY
HONG KONG, NEW YORK & LONDON – Lehman Brothers is building up in structuring and sales with hires in Hong Kong and London.
StanChart hires global head
SINGAPORE – Standard Chartered has hired Leonard Feder to run its global financial markets unit.
China widens trading band
BEIJING – China widened the USD/CNY trading band to 0.5% from 0.3% effective today (May 21), signalling a more aggressive move towards CNY appreciation, said analysts.
To net or not to net? That's CLS's question
He who shouts loudest will be heard? If the old adage is true, then settlement platform CLS should be moving into netting.
BoE rate hike should have been higher
Commenting on last week's widely anticipated 0.25% rise in UK base rates, London-based fund manager Ted Scott of F&C Investments believes the Bank of England's Monetary Policy Committee should have done more to stamp out inflationary expectations
Barclays launches FX-linked ETNs
NEW YORK – Barclays Bank launched three exchange traded notes (ETN) linked to the movement of the euro, sterling and yen relative to the dollar on the New York Stock Exchange last Wednesday (May 9).
Saxo continues Asia expansion in Singapore
SINGAPORE – Saxo Capital Markets, the Asian subsidiary of Saxo Bank, is continuing to expand its footprint in the Asia-Pacific region, with two key appointments in Singapore.
Citi embarks on major shake-up
NEW YORK, LONDON & SINGAPORE – Citi has completed the next phase of senior management changes in FX under the new fixed income, currencies and commodities (FICC) structure introduced in 2006.
4Cast buoyed by trade sentiment
A belief in the longevity of the carry trade has helped economic consultancy 4Cast top the three-month currency forecast rankings this week.
HKMA chief calls for greater integration of the renminbi
TOKYO – Hong Kong should prepare for greater integration of the renminbi into its financial infrastructure, said Joseph Yam, chief executive of the Hong Kong Monetary Authority (HKMA).
Does one platform really fit all?
Do clients even want to trade multiple asset classes from a single platform? That's an interesting question.
Market nonchalant about FXMS data
CHICAGO – Market participants largely shrugged off volume data released by Reuters/Chicago Mercantile Exchange (CME) joint venture platform FXMarketSpace last week, claiming it is too early to judge the success of the platform.
Citi embarks on major shake-up
NEW YORK, LONDON & SINGAPORE – Citi has completed the next phase of senior management changes in FX under the new fixed income, currencies and commodities (FICC) structure introduced in 2006.
Merrill Lynch launches first rated CFXO
LONDON – Merrill Lynch has launched the first full rated and managed collateralised foreign exchange obligation. The product is being managed by Crédit Agricole Asset Management, and rated by Standard & Poor's.
BarCap prevails on bearish outlook
A weak dollar and yen view helped Barclays Capital to top the one-month currency forecast tables this week.
Morgan Stanley gets Tradebook
NEW YORK – Morgan Stanley has enabled its institutional clients to electronically trade FX and interest rate futures on Bloomberg's Tradebook platform.
Avoiding corporate cable complacency
UK corporates need to keep their eyes on hedging policies as city analysts debate the sustainability of the current cable price, says John Haines , managing director, financial markets sales at Lloyds TSB Corporate Markets
BoA creates London team
LONDON – Bank of America (BoA) has created a proprietary rates trading team to manage strategic positions for Europe, the Middle East and Africa (EMEA).
Scotiabank automates forex trading in Mexico
LONDON – Scotiabank has adopted and deployed Cognotec's AutoDeal+ trading platform in Mexico, to offer automated FX trading to its clients for the first time.
BNP hires two US rates heads
NEW YORK, LONDON & PARIS – BNP Paribas has boosted its New York rates and London commodities businesses, but is said to have lost in French FX sales.
Feeling the strain of high-volume trading
The decision to roll out netting services by electronic communications network Hotspot FXi demonstrates initiative on the platform's part.
Credit Suisse joins index bandwagon
LONDON – Credit Suisse has launched FX Rolling Optimised Carry Indices (ROCI) for forex carry trade investors.