Trading
ECB, BoE leave rates unchanged
Daragh Maher, senior FX strategist at Calyon in London, evaluates the European Central Bank and the Bank of England's inaction on rates last week, and what lies ahead
Texas court fines PIC $123 million
WASHINGTON DC – The Texas Federal Court has levied more than $123 million in fines and restitution, in a case filed against Premium Income Corp (PIC) and its affiliates, Inforex and Tri-Forex International.
Currenex set to move into new asset class
NEW YORK – Trading technology vendor Currenex is going multi-asset class, according to officials at the company in New York.
MG Financial begins streaming Dow Jones news
NEW YORK – Retail FX company MG Financial last Thursday (February 8) began streaming currency news from Dow Jones Newswires, through its FX trading platform DealStation.
EBS adds ruble trading to spot platform
LONDON – Spot broker EBS has launched ruble trading over its spot matching platform, EBS Spot.
Is all well between Cognotec and UBS?
If market rumours are anything to go by, Cognotec could be facing a bit of a bumpy road ahead.
Citigroup names Prasad global head of forex and local markets
LONDON – Anil Prasad, head of CEEMEA sales and trading, has been named global head of FX and local markets at Citigroup in London.
Goldman bullish on Bric
LONDON – The New World economies are to overtake Old World economies within 25 years, according to Jim O'Neill, head of global economic research at Goldman Sachs.
Citigroup names Prasad global head of forex and local markets
LONDON – Anil Prasad, head of CEEMEA sales and trading, has been named global head of FX and local markets at Citigroup in London.
Strategists warn of carry trade risk
LONDON – FX markets could face disruption as the carry trade and a declining yen reached critical levels last week, warned analysts.
New platforms: ready, steady, go
And it's all systems go, literally. FXMarketSpace is very close to testing in a live environment, with final details being put in place. Meanwhile others, such as FXall's new anonymous trading platform, should have begun piloting by now.
RBC subscribes to Ffastfill for CME forex service
CHICAGO & LONDON – Software vendor Ffastfill has signed on RBC Capital Markets for its CME FX on Reuters application service. The service gives direct access to CME's FX futures and options contracts. FFastfill, which was chosen by Reuters as the launch…
Goldman loses two in FX sales...
LONDON – Goldman Sachs has lost two staff from its institutional FX sales business in London.
...and CS loses two in trading
NEW YORK – Credit Suisse has lost two spot traders in New York, and reorganised its fixed-income business.
Tradition hires five in inflation, new desk head
EUROPE – Interdealer broker Tradition has added to its inflation team across Europe and appointed a new desk head, John Cullen.
BoT closes NDF trading loophole
BANGKOK – The Bank of Thailand (BoT) has again intervened in the FX markets, by ordering banks not to trade non-deliverable forwards (NDF) with foreign counterparties.
CBA wins out, exploiting yen weakness
The Commonwealth Bank of Australia (CBA) topped this week's one- and three-month rankings with its non-consensus view on the yen coming through.
Dresdner exodus continues in forex
LONDON – The exodus from Dresdner Kleinwort's foreign exchange business continued last week, with three departures hitting the institutional FX sales desk, and one each from FX options and spot FX trading in London.
CME, Reuters finalise FXMarketSpace
CHICAGO & LONDON – The Chicago Mercantile Exchange (CME) and Reuters are making final preparations for the launch of their joint-venture platform, FXMarketSpace.
EIIB launches Islamic money-market instrument
LONDON – The European Islamic Investment Bank (EIIB) has begun accepting funds under Wakala placements, following approval by the Financial Services Authority (FSA) in the UK.
Charting the rise of the ruble
Dmitri Fedotkin, economist at VTB Bank Europe, says the Russian ruble is set to rise further against the dollar and euro this year
CME forex volumes rose 29% in January
CHICAGO – The Chicago Mercantile Exchange daily FX volume averaged 494,000 contracts in January, up 29% from the same period last year.
Dresdner exodus continues in forex
LONDON – The exodus from Dresdner Kleinwort's foreign exchange business continued last week, with three departures hitting the institutional FX sales desk, and one each from FX options and spot FX trading in London.
Forex gap widens between London and New York
LONDON & NEW YORK – Forex volumes in London have outstripped those of rival trading centres, as the boom in mergers and acquisitions (M&A) and proximity to emerging markets provides a boost to the UK capital.