Trading
You can judge a book by its cover
Market participants of all shapes have access to a bewildering choice of platforms on which they can transact their FX business. There is a huge financial gap between the multi-billion dollar hedge fund and the hobby investor who wants to trade with a…
FXMarketSpace ups ante
LONDON – Twenty banks have committed to becoming clearing prime brokers on the FXMarketSpace platform, a senior official at the CME/Reuters venture told FX Week .
Big banks prepare for retail FX push
SINGAPORE – Major banks are about to enter the online retail FX trading market-place "with a vengeance", said Brian Maccaba, chairman of FX dealing platform vendor Cognotec.
Yen set to stage a comeback next year
The yen is to stage a comeback next year as fundamentals gain more precedence, predicts Adrian Schmidt, senior FX strategist at the Royal Bank of Scotland (RBS) in London.
Keep it simple, says e-FX trading panel at conference
SINGAPORE – 'Bells and whistles' are an annoying distraction on e-FX platforms according to Christopher Brandon, managing director of London-based $200 million hedge fund Rhicon Currency Management.
Merrill Lynch bucks downward Q3 trend
NEW YORK & CHARLOTTE, N CAROLINA – JP Morgan and Wachovia saw falls in earnings from divisions encompassing FX in the third quarter of this year, while Merrill Lynch bucked the trend with profits up more than a quarter.
FXMarketSpace ups ante
LONDON – Twenty banks have committed to becoming clearing prime brokers on the FXMarketSpace platform, a senior official at the CME/Reuters venture told FX Week.
Flextrade to launch block trading platform
NEW YORK – Trading technology vendor Flextrade plans to launch the first block FX trading platform for the sell-side and buy-side next month, FX Week has learned.
Regulator forces COESfx to close to new clients
PLAINVIEW, NEW YORK – COESfx, a US-based retail foreign exchange platform, was forced to close to new customers earlier this month after a regulator found that its books did not balance.
HUF makes a comeback
BUDAPEST – The Hungarian forint surged last week following positive market sentiment to a government announcement last Monday (October 9).
Managing exposure to forex volatility
Manuel Deijk in the structured FX team at UBS looks at a selection of quantitative methods applied in the implementation of FX risk management policies
Return to volatility brings relief for prop traders
GLOBAL – Last week saw the first significant market volatility for nearly two months as euro/dollar saw its first move out of a 1.26–1.28 trading range for over 50 days.
TradingScreen upgrades its software to give users new hedging capabilities
NEW YORK – Forex technology vendor TradingScreen has introduced FX trading capabilities designed to give users the ability to hedge secondary forex exposure generated by trading in other asset classes.
Vwd expands Tullett package
FRANKFURT – German data vendor vwd has expanded its Data Manager Treasury end-of-day FX and money markets data package with extra information from Tullett Prebon Information, the data arm of broker Collins Stewart Tullett.
BoNY relaunches forex website
NEW YORK – Bank of New York (BoNY) has relaunched its FX website with an upgraded version of the interactive Portfolio Flow Monitor (iPFM), the bank's capital flow product.
Real strength set to continue
Gray Newman, senior Latin American economist at Morgan Stanley in New York, says that the Brazilian unit will be supported by interest rates and continuing growth
Greenback sell-off fails to materialise
Bank of Montreal's (BMo) prediction for a big sell-off of the US dollar in 2006 has failed to materialise, said Jeff Cooper, BMo's vice-president of forex.
Currenex launches catalyst program
NEW YORK – Trading technology vendor Currenex has launched a testing program for third-party software vendors to aid in the development of new products.
Gain Capital attacks markets with NinjaTrader
BEDMINSTER, NEW JERSEY – Forex trading company Gain Capital last week signed a deal with software vendor NinjaTrader to deliver real-time forex pricing and execution services to its customers.
FX volume to exceed $3 trillion by 2007: TowerGroup research
NEEDHAM, MASSACHUSETTS – Global FX daily average volumes will reach $3.6 trillion by 2007, according to research released last week.
Citigroup launches custody services in Sweden
STOCKHOLM – Citigroup's global transaction services business is to provide direct custody and clearing (DCC) services to clients in Sweden.
Wall Street rebrands to expand forex business
SYDNEY – Wall Street Systems has rebranded to reflect the growing importance of foreign exchange to its business.
Human touch will always be needed
Markets have been on the move again this week. Comments from retired Fed chairman Alan Greenspan about the US housing market and noise surrounding China's reserve policy ensured that the greenback at last broke through the 1.26–1.28 range that it had…
Payments industry gathers in Sydney
This year's Sibos conference held in Sydney brought together some 6,500 participants to discuss the latest developments in payment and settlement systems. Here, FX Week brings you some of the news from the eventSwift launches pilot for corporate program