Trading
BarCap enhances white-labelling
LONDON & MOUNTAIN VIEW – Barclays Capital has enhanced its white-label offering, signing an agreement with California-based Integral.
FXMarketSpace builds Americas sales force
LONDON – Forex trading platform FXMarketSpace has appointed Phillip Harris as senior vice-president and head of sales, Americas, as it continues to add staff ahead of its launch.
Black clouds over the greenback
David Woo, head of global FX strategy at Barclays Capital in London, looks at the threats to the US dollar from Chinese trade and a weak housing market
Rabobank becomes EBS Prime bank
LONDON – Rabobank has become the latest institution to join spot broker EBS’ Prime initiative as a prime bank.
FXCM’s sentiment index pays off
Online trading firm FXCM has emerged in the top five for the 12-month year-to-date index by paying more credence to sentiment, volatilities and converging interest rates.
New talent thin on the ground
LONDON – Banks are struggling to attract junior FX derivatives staff according to banks and headhunters.
Bank of America adds to ETS
Bank of America is enhancing its suite of e-trading capabilities to include live options execution, improved pricing and risk management among other new features.
IB&T stays bullish on greenback
Investors Bank & Trust (IB&T) continues to go against consensus view by maintaining a bullish stance on the dollar. Market expectations for a decline in the dollar have been fuelled by further weak data from the US.
CME names first market-makers for Korea futures contracts
SEOUL – The Chicago Mercantile Exchange (CME) has announced the selection of five banks as the first market-makers for CME Korean won futures contracts.
e-Mid opens to Turkey
ISTANBUL – Interbank deposit market e-Mid is to open to Turkish banks, in a bid to drive revenues and access more liquidity from this rapidly developing market.
SG CIB realigns FX business
LONDON & PARIS – SG Corporate and Investment Banking (SG CIB) plans to realign its foreign exchange business within a new fixed income, currencies and commodities division early next year.
Bloomberg revamps FX Dealing system
NEW YORK – Data and trading technology vendor Bloomberg has released a revamped version of its single and multibank request-for-quote (RFQ) system, FX Dealing.
Politics and the pound
There are parallels between Tony Blair’s current situation and the period around Margaret Thatcher’s demise when the pound crashed out of ERM, write Peter Luxton, global markets adviser, and Stuart Bennett, head of European economics at Informa Global…
First OTC rouble basket deal
LONDON – Interdealer broker GFI has completed the first interbank over-the-counter rouble basket trade. The six-month trade has a notional value of $100 million, with an at-the-money forward strike price of 29.70. The weighted ratio was 60% dollar, 40%…
Thailand coup makes little impact on baht
BANGKOK – Last week’s military coup in Thailand is unlikely to have a lasting impact on the baht, according to analysts in the region.
Old news set to leave China behind
China’s plans to delay the information flow from foreign news agencies by filtering it through Xinhua news agency is worrying, and it is likely to be counterproductive.
A capital adventure
Michael Spencer tells FX Week about how he turned Icap from a four-man business into a £3 billion FTSE 100-listed powerhouse in 20 years, and about his plans for EBS
Maintain a long Swiss franc exposure
Todd Elmer, currency strategist at Citigroup in New York, predicts an upturn in Swiss franc fortunes, and advises directional trades on EUR/CHF
Senior hires at FXMarketSpace
LONDON – FXMarketSpace, the centrally cleared forex market-place established by Reuters and the Chicago Mercantile Exchange (CME), has made four senior hires to its global management team.
FXall sees strong take-up on MM platform
LONDON – More than 65 institutions have participated on the FXall money markets platform since it was launched in June, the platform said last week.
Mixed results for US banks
NEW YORK – Low volatility in currency markets provided a challenging third quarter for US investments banks, with a mixed bag of results released last week.
New Xinhua rules intercept foreign news
BEIJING – Xinhua News Agency, the Chinese government-controlled information service, has issued new rules designed to stop foreign competitors from working directly with their customers in China.
Westpac benefits from dollar resilience
Westpac is joint top of the one-month rankings because it ‘held the line on the dollar in the summer months’.
More fraud uncovered by CFTC
WASHINGTON, DC – The US Commodity Futures Trading Commission (CFTC) has settled a forex fraud action resulting in over $2.5 million in civil penalties.