Trading
Financial institutions behind FX growth
GREENWICH, CT – Forex trading volumes among financial institution customers rose 18% last year, according to statistics from research firm Greenwich Associates.
ABN merges e-businesses
LONDON – ABN Amro has merged its FX, fixed income and derivatives e-businesses into one group, as the latest part of a reorganisation announced last October.
Madrid a magnet for FX
MADRID – Demand for FX from corporates and financial institutions in mainland Spain has led to an increased demand for sales staff, say market participants.
Financial institutions behind FX growth
GREENWICH, CT – Forex trading volumes among financial institution customers rose 18% last year, according to statistics from research firm Greenwich Associates.
ABN forms Macro Trading Group
LONDON – ABN Amro has created a new macro trading group, encompassing FX and other asset classes.
Saxo adds more in London
LONDON – Saxo Bank has built up its presence in London with three new institutional sales hires.
FXCM abandons Refco negotiations
NEW YORK – Forex Capital Markets (FXCM) has abandoned negotiations with Refco creditors to acquire the assets of the defunct brokerage's unregulated currency trading operation.
TD moves towards one-stop shop
TORONTO & LONDON – TD Securities has merged its FX, fixed income and rates businesses, in a bid to provide a one-stop-shop service to clients.
How anonymity turned to acrimony
Anonymous trading is still one of the single most contentious topics in the industry. The threat posed by those that trade anonymously using the credit lines of prime brokers, became evident last year.
A Russian revolution
Jurye Pimenov , senior FX dealer at the Central Bank of the Russian Federation, and Igor Souzdaltsev , project manager in financial markets at Investsberbank in Moscow, analyse the Russian rouble's strength and its recent comeback after the financial…
India looks to capital account convertibility
MUMBAI – Indian authorities took a step towards further FX liberalisation last week, by forming a committee to establish a framework for fuller capital account convertibility.
HSBC names Brown global FX chief
GLOBAL – HSBC has undergone a major reorganisation in FX, resulting in a newly created global head of FX role.
Greenback revival draws to a close
The US dollar is unlikely to see a repeat performance of the strong gains made in 2005 this year, said Jeff Cooper, vice-president, FX, at Bank of Montreal (BMo) in Toronto.
April – a perfect storm for Asian FX?
Investors could profit from the prospect of an unusually volatile month for the normally low-vol USD/SGD. Sean Callow , senior currency strategist at Westpac Institutional Bank in Singapore, explains how this can be achieved
Trading FX implied volatility
How frequently does one need to hedge to effectively trade implied volatility? Duncan Farnsworth , head of risk analytics in the currency structuring group at the Royal Bank of Scotland in London, offers a solution
Citigroup raids Merrill Lynch
GLOBAL – Two senior FX officials have made their way to Citigroup as the bank continues to raid its US rival, Merrill Lynch.
Further changes at DrKW
LONDON & NEW YORK – Dresdner Kleinwort Wasserstein (DrKW) continues to make changes to its global FX business with another appointment and a departure.
EBS completes 90% of client migration to new platform
LONDON – EBS has migrated 90% of customers and all EBS Spot brokers on to a new IP-based platform.
Talks mount over FXall buyer
NEW YORK – FXall has agreed to sell a 20% stake to private equity firm Technology Crossover Ventures (TCV), based on an overall valuation of $300 million for the company, say sources.
US banks announce record first-quarter results
NEW YORK – The US investment banks have stormed through the first quarter of this year, with record-breaking results released last week.
Bullish US dollar stance pays off
HBoS Treasury Services tops this week's 12-month forecast rankings, owing to a bullish stance on the US dollar the bank has held since early 2005.
The winners take it all?
In the past few years, it has become clear that the winners in FX are those that were first to commit to the right IT investment.