Trading
Differing approaches from the biggest players
Where you base your business is in some ways just as important as how it is run. Deutsche Bank's decision to move back into Tokyo this week with a full sales and trading operation shows that it has faith in the Japanese economy's ability to deliver…
Cliquet options for the longer view
Cliquet options embedded in a zero coupon structured product can be used to take advantage of a medium- to long-term view, suggests Jeffrey Todd Lins, director, quantitative analysis at Saxo Bank in Copenhagen
BNY signs Fundtech deal for corporates
NEW YORK – The Bank of New York (BNY) and vendor Fundtech have signed a deal enabling mid-sized banks to easily and affordably provide FX services to corporate clients.
Systematic and technical managers gain in March
The best- and worst-performing managers in March were systematic, while technical managers occupied the lower and middle ground
RBC creates dual senior role
TORONTO & LONDON – Canadian bank RBC Capital Markets, has restructured its FX operations, implementing a new management hierarchy to reflect a more global focus.
Currenex takes algo plunge
NEW YORK – Currenex is moving into algorithmic trading with the launch of CX SmartOrder, a platform that enables customers to use a number of standard models or to create their own.
Reuters and CME to set up FXMarketSpace
LONDON & CHICAGO – Industry heavyweights Reuters and the Chicago Mercantile Exchange (CME) have confirmed plans to establish a centrally-cleared FX market-place for early next year, as reported by FX Week (May 1).
Where have all the petrodollars gone?
Jeffrey Young, managing director, head of currency research, and Eric Darwell, vice-president, currency strategist VP at Citibank in New York, analyse where 'petrodollars' are going and the ramifications for the greenback
Deutsche Bank reorg sees return to Tokyo
GLOBAL – Deutsche Bank is to open a trading desk in Tokyo as it reorganises senior foreign exchange man agement across three continents.
Reuters and CME to set up FXMarketSpace
LONDON & CHICAGO – Industry heavyweights Reuters and the Chicago Mercantile Exchange (CME) have confirmed plans to establish a centrally-cleared FX market-place for early next year, as reported by FX Week (May 1).
Eurobase launches four electronic trading modules
LONDON – Vendor Eurobase Banking Solutions has launched four e-trading modules aimed at providing banks with tools to maximise revenue generation across FX and other asset classes.
Hedge funds down, but retail FX soars
GREENWICH, CONNECTICUT – Hedge fund FX trading has slowed down, while FX retail trading has taken up the slack, according to research from Greenwich Associates.
Interbank market is the one to watch
The move by Lava to get into the interdealer broker space is a bold one that could pay handsome dividends for the Citigroup-owned business.
BoA poaches pair from Morgan Stanley
LONDON – Bank of America is expanding its rates capabilities with two senior hires from Morgan Stanley in London.
Lehman hires new FX head
NEW YORK & LONDON – The turnover at Lehman Brothers continues with two senior appointments in London and New York.
Dollar entering a defensive phase
Informa Global Markets remains top of the 12-month rankings, following accurate predictions in EUR/USD and GBP/USD. Informa correctly forecasted 1.23 and 1.76 against means of 1.30 and 1.83 respectively.
Reuters adds ISK
Reykjavik – Global information provider Reuters has launched the Icelandic krona on its Dealing 3000 spot FX matching service.
Lava moves into interbank FX space
NEW YORK – Citigroup subsidiary, Lava Trading has confirmed plans to launch a new interbank forex trading system this year. The move makes it the first of a number of platforms rumoured to be taking the plunge into the space.
Foreign banks lose out in South Korea
SEOUL – Foreign banks operating in South Korea took a hit in 2005, with net profits sliding nearly 70%, according to government statistics.
UBS closing London forex trading
LONDON & ZURICH – UBS is closing its London foreign exchange trading operations and moving them over to Zurich in the summer.
Risky currencies are well supported
Despite a widespread perception to the contrary, most high-yielding currencies continue to do very well on strong fundamentals and firm inflows, says Beat Siegenthaler, senior strategist at TD Securities in London
A changing interbank landscape
The decision by the world's largest interdealer broker, Icap, to acquire spot FX broker EBS bears significant implications for the current landscape of the FX industry.
UBS closing London forex trading
LONDON & ZURICH – UBS is closing its London foreign exchange trading operations and moving them over to Zurich in the summer.
Icap concludes deal with EBS
LONDON – Interdealer broker Icap's agreement to acquire electronic forex heavyweight EBS last week could signal a shift in the current landscape of the forex market, say analysts.