Trading
Bear Stearns poaches senior BNP Paribas staff
PARIS – Bear Stearns has hired two senior FX staff from BNP Paribas, as part of plans to launch its FX business in Paris, market sources say.
The risky business of trading
The case for banks entering the retail market with trading platforms of their own seems to be getting stronger.
EBS to expand EM capability
SINGAPORE – Spot broker EBS plans to expand its emerging markets capabilities with a number of new currencies set for launch in the coming months.
Trading platform volumes surge as stock markets plunge
LONDON - The sharp correction in stock markets around the world last week triggered the unwinding of the carry trade, bringing record trading volumes to foreign exchange platforms.
Slovakia braced for euro arrival
What factors will determine the conversion rate of the Slovakian koruna when it joins the euro, asks Jan Toth, ING's chief economist in Bratislava
Thailand to scrap controls
BANGKOK - The Bank of Thailand's plans to get rid of remaining capital controls will lead to a widening of the spread between the onshore and offshore spot rates, say analysts.
Raised margin requirements threat to global liquidity?
CHICAGO - The Chicago futures exchanges' decision to raise margin requirements could affect global liquidity, warn analysts.
South Africa looks to currency futures
JOHANNESBURG - South Africa will launch currency futures trading on its interest rate exchange platform, YieldX, in coming months.
Parker FX index reports flat returns for January
STAMFORD, CT - The Parker FX index has reported a flat return for January, with exactly half its indexed programmes reporting positive results, and the remaining half reporting losses.
Fimat opens Sydney FX desk
SYDNEY - Brokerage firm Fimat has launched an FX desk in Sydney as it expands its Asia-Pacific presence.
CLS mulls netting option
NEW YORK - CLS is reviewing the possibility of launching a netting service, as the settlement platform looks to adapt to the changing landscape.
Forex drives major bank earnings
ZURICH, UK AND COPENHAGEN - European banks have reported a strong set of results for 2006, with FX businesses playing a key role.
BarCap tops 12-month spot with bearish view
A bearish view on the USD and yen has shot Barclays Capital to the top of the 12-month forecast index.
Retail FX offers lucrative returns
LONDON - Retail FX traders account for $50 billion of the $2.5 trillion a day FX market, according to research released last week.
Concerns mount over reserve increases
LONDON - Foreign exchange reserves are set to grow by 20-59% over the next three to four years, according to a survey released by Central Banking Publications last Monday (February 26).
US derivatives volumes rocket on market fears
CHICAGO & NEW YORK - Several US derivatives exchanges broke their daily traded volume records by more than 20% during February 28.
Trend-following strategies lose out once more
LONDON - Research by ABN Amro has found that trend- following strategies were the poorest performers in February, losing 2.5% over the month, said James Binny, head of FX analytics at the Dutch bank in London.
Gains and losses at Credit Suisse
LONDON - Credit Suisse lost three members of its UK sales team in London last week.
Why retail FX should be taken seriously
According to research from client strategy firm ClientKnowledge, profits from retail FX traders can be anywhere between $1 billion to $2 billion a year.
Gains and losses at Credit Suisse
LONDON - Credit Suisse lost three members of its UK sales team in London last week.
Saxo adds ruble to SaxoTrader platform
Saxo Bank has added the Russian ruble to its online trading platform SaxoTrader. The currency can be traded versus the US dollar.
Mifid – a commercial opportunity
The commercial opportunities Mifid presents to the foreign exchange dealer are examined by Chris Pickles, chair of the directive's Joint Working Group in London
Where there's change, there's opportunity
The financial markets are exceptionally good at thinking up new and innovative ways of getting things done when hurdles emerge.