Trading
Demand for ETFs at an all-time high
BASEL – Demand for exchange-traded futures and options contracts reached an all-time high last year, with annual turnover up 22% on 2004, according to the latest quarterly data released by the Bank for International Settlements (BIS).
DJ Newswire and FXdirekt launch German language news service
LONDON & FRANKFURT – Dow Jones Newswire has teamed up with German online trading platform FXdirekt Bank, to establish a German language real-time FX news service.
HSBC becomes CME Russian ruble market-maker
CHICAGO – Chicago Mercantile Exchange (CME), the regulated FX marketplace, has added a second market-maker for Russian ruble futures, with HSBC signing up to provide liquidity. Deutsche Bank is also a market-maker for this contract.
Not too late to sell the Swedish krona
As the short-term interest rate spread between the eurozone and Sweden increases, we are likely to see further depreciation of the krona, writes Henrik Degrér , senior portfolio strategist of Skandinaviska Enskilda Banken (SEB)
Banks should have the courage of their convictions
The speculation swirling around the future of two of the most important forex institutions is providing the industry with something to discuss, and for us journalists something interesting to write about.
Insch goes the extra mile with systematic launch
TRÜBBACH – Swiss hedge fund Insch Capital Management is to launch its proprietary in-house systematic trend-following currency program, Kintillo, in March.
Gain expands US retail FX presence
BEDMINSTER, NEW JERSEY – Gain Capital, the non-bank provider of forex trading and asset management services, has opened an office in New York City.
Latest game from FX Player
LONDON – FX Player and data and proprietary analytics vendor TraderMade have joined forces to launch a new trading game.
HSBC FX revenues rise
LONDON – HSBC ended 2005 with a 6% rise in revenue from foreign exchange over the previous year, with the bank benefiting from increased interest in emerging markets.
DrKW makes senior hires
LONDON – Dresdner Kleinwort Wasserstein (DrKW) is continuing to rebuild in sales, trading and structuring with three further hires.
Is risk adequately priced?
An end to carry plays on high-yield emerging currencies would create volatility in FX markets and potential flight to safe-haven assets. Sharada Selvanathan , currency strategist at BNP Paribas in Singapore, suggests a basket to benefit from this
Peso strong despite political turmoil
MANILA - The Philippine peso has weathered the storm of the recent political turmoil to close at a fresh three-and-a-half year peak of 51.17 per dollar (March 3 midday GMT) as political worries eased, according to traders.
Saxo adds Web and Mobile Trader
COPENHAGEN - Saxo Bank has announced that it is introducing a browser-based trading platform to complement its Saxo Trader.
Dresdner launches FX prime brokerage
LONDON - Dresdner Kleinwort Wasserstein (DrKW) last week launched a foreign exchange prime brokerage (FXPB) business, completing its cross-asset class product PB offering.
Hedge fund signing for Deutsche Bank's Select
FRANKFURT - Deutsche Bank has added to its FX Select platform by signing Sagio's new FX hedge fund, according to FX Week sister publication Hedge Funds Review .
Currenex platform for Marex
LONDON - Marex Financial, a Refco spin-off, began offering Currenex's white label FX platform, FXtrades to clients last week.
ACI heads for Manila, but will anyone else?
The ACI's decision to hold its annual get-together in Manila has raised a few eyebrows to say the least.
Systematic approach delivers in January
The second monthly round-up of hedge fund performance sees managers with a systematic approach top the table, while those with a technical approach and longer-term investment horizons suffered
Algorithmic trading in forex limited by fragmentation
NEW YORK - The growth of algorithmic trading in the FX space has been limited by the fragmented dealer market, according to research by Tabb Group released last week.
FXall ownership speculation mounts
NEW YORK - The future ownership structure of FXall looks set to be decided within the next few weeks, as private equity firms submit their bids to adviser Goldman Sachs.
Two arrive, one leaves at ABN
GLOBAL - ABN Amro has made more changes globally in FX, with two key hires and a departure.
BarCap highlights FX benefits
LONDON - Portfolio diversification and alpha generation are the two key reasons why non-FX investors should access the asset class, according to a report released by Barclays Capital last week.
SunGard expands Asia-Pacific operations
TOKYO - Software vendor SunGard is expanding its operations in the Asia- Pacific region in 2006. It will provide solutions for trading, treasury and risk management, benefit administration and insurance. Other services include institutional asset…
Westpac benefits from yen weakness
Two non-consensus views have helped lift Westpac to the top of the three-month forecast rankings, according to Geoff Kendrick, senior currency strategist at the bank in London.