Trading
The forint faces an imminent setback
Meg Browne, senior currency strategist at Brown Brothers Harriman in New York, warns of the perils facing the Hungarian currency
G10: a roadmap for 2007
Teis Knuthsen, head of FX research at Danske Bank in Copenhagen, outlines a roadmap for G10 currencies in the first half of 2007
BNP Paribas overhauls e-business
PARIS & NEW YORK – BNP Paribas has overhauled its electronic foreign exchange business as it looks to establish itself as a leading player in the arena.
Société Générale CIB names new FICC heads
PARIS – Société Générale Corporate and Investment Banking (SGCIB) has appointed Marc Breillout and Gregoire Varenne to head the new fixed income, currencies and commodities division in Paris.
Tradition poaches Tullett Prebon personnel
LONDON & JOHANNESBURG – Interdealer broker Tradition has raided Tullett Prebon, as it expands its emerg- ing markets capabilities in London and Johannesburg.
Consolidation is the key theme
The theme of consolidation in the brokerage industry continues this year, with Société Générale and Calyon confirming exclusive negotiations to merge their brokerages Fimat and Calyon Financial. But what happened to all that talk about consolidation in…
ABN Amro cuts back London forex staff
LONDON – ABN Amro has made cuts to its London FX team, resulting in the departure of John Marley, European head of sales.
JP Morgan launches Bloomberg IR options
LONDON – JP Morgan has begun trad- ing over-the-counter interest rate options on Bloomberg's multi-dealer trading platform.
FXall volumes surged 45% in 2006 on growing market
LONDON – Trading volumes on multibank platform FXall surged 45% in 2006, with over $9.8 trillion traded on a single-count basis.
Oregon state, CFTC fines Orion founder
OREGON – The US Commodity Futures Trading Commission (CFTC) and the District Court of Oregon have fined Russell Cline, founder of foreign currency trading firm, Orion International $33 million.
Dollar rally likely to be only temporary
Barclays Capital has continued its strong showing in the rankings since the beginning of the year, coming in top for its 12-month forecasts. It also featured well in the three-month and one-month year-to-date index.
India pledges to pursue a less restrictive FX strategy
MUMBAI & HONG KONG – Indian prime minister Manmohan Singh issued a statement last week, confirming the country's commitment to gradually move towards a less restrictive forex regime.
E-commerce and algo trading to drive recruitment this year
LONDON – Headhunters are predicting that the next 12 months could see a significant amount of staff turnover in the FX market.
The USD resurgence may only be temporary
Simon Derrick, head of currency strategy at Bank of New York in London, warns that it may be too soon to be revising those dollar forecasts
Bearish USD view rewarded by year-end
Persistence has paid off for 4Cast, which saw its consistently bearish view of the dollar rewarded as 2006 came to a close and the new year began.
China launches benchmark Shibor rate
SHANGHAI – China has taken further steps towards developing its interest rates derivatives market, with the launch of the Shanghai interbank offered rate (Shibor) last Thursday (January 4).
StanChart restructures institutional sales team
LONDON – Standard Chartered has implemented a new structure for institutional sales in London, following the departure of Tara Hunt, head of global investor sales in October last year.
Algo trading goes mainstream
COPENHAGEN – Saxo Bank is bringing algorithmic trading into the mainstream with plans to launch an algo trading tool for retail investors this quarter.
Nybot launches peso and real FX futures to support coffee traders
NEW YORK – The New York Board of Trade (Nybot) is preparing to launch futures in the Colombian peso and Brazilian real next month.
Algorithmic trading's new frontier
Happy new year! We're two weeks into 2007 and are already seeing some exciting new developments.
Spotradar from Nostradamus predicts good times ahead
LONDON – Nostradamus, a forex predictions company, is looking to sign a raft of new clients for its Spotradar automated trading system in the next few months.
A flying start to 2007 Currency strategies down in 2006
LONDON – Most currency funds are likely to have ended 2006 nursing losses, with trend followers down around 6%, according to research from ABN Amro.
A flying start to 2007
GLOBAL – The year is off to a flying start as currency markets opened with a healthy level of volatility last week, said traders.
Algo trading goes mainstream
COPENHAGEN – Saxo Bank is bringing algorithmic trading into the mainstream with plans to launch an algo trading tool for retail investors this quarter.