Trading
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.
May 2006 - Reuters and CME to set up FXMarketSpace
CHICAGO & LONDON – Industry heavyweights Reuters and the CME announced plans to establish a centrally-cleared FX market-place for early in 2007.
Taiwan quake hits e-trading in Asia
ASIA – Trading over electronic foreign exchange dealing systems was disrupted during Asian hours, after an earthquake hit Taiwan on the night of December 26.
Sterling and the phantom menace – EUR/GBP will rally in 2007
Adrian Hughes, currency strategist at Société Générale Corporate & Investment Banking in London, assesses the prospects for sterling in 2007
November 2006 - RBS and JP Morgan scale back prop trading
LONDON & NEW YORK – November saw mixed fortunes for FX traders. Just as volatility returned to the market, two major banks made cuts to their prop trading desks.
September 2006 - Thomson expands FX offering with Tullett
LONDON – Thomson Financial introduced foreign exchange and money market pricing pages with content from Tullett Prebon Information (TPI).
April 2006 - Icap purchase of EBS completed for $775m
LONDON – In mid-April, Interdealer broker Icap agreed to a deal that saw it acquire electronic forex heavyweight EBS. The deal saw Icap pay $775 million for EBS Group, with a share alternative option for EBS shareholders to switch a third of their cash…
January 2006 - Acquisitions in e-FX take precedence
LONDON – The year started with a bang with two high-profile acquisitions in the electronic trading space.
February 2006 - BoA builds algorithmic forex capabilities
CAMBRIDGE, MASSACHUSETTS – Bank of America (BoA) took a major step towards building up its algorithmic trading capabilities in the FX space, with the acquisition of algorithmic-driven pricing and trading specialist, Financial Labs.
March 2006 - FXCM abandons Refco negotiations
NEW YORK – Forex Capital Markets (FXCM) abandoned negotiations with Refco creditors to acquire the assets of the defunct brokerage's unregulated currency trading operation.