Trading
BarCap takes eFX options trading to the next level
LONDON – Barclays Capital last week became the first bank to launch live two-way streaming tradable prices for FX options.
JPM creates new reporting structure
LONDON – JP Morgan has introduced a new reporting structure in FX following the departure of Frank Rawlins, head of spot FX for Europe and global head of metals trading at the bank in London.
Forex trading volume soars in 2005
Foreign exchange turnover continued to surge last year, according to surveys from the foreign exchange joint standing committee (FXJSC) chaired by the Bank of England and the FX committee (FXC) of the Federal Reserve Bank of New York.
EBS to put data on sale
LONDON – EBS is to sell historical FX data to banks and non-bank traders via a new service called EBS Data Mine.
Lloyds looks to raise its FX profile
Lloyds TSB may not be well known for FX, but it has made a big-name hire that it hopes will enable it to continue buiding its presence in the fiercely competitive UK market
Knight Capital in landmark deal with Hotspot FXi
NEW JERSEY – Knight Capital last week announced plans to acquire electronic currency network Hotspot FXi in a landmark deal worth $77.5 million.
A big year down under: AUD out-performs NZD
Four reasons why AUD/NZD is going higher in 2006, by Adam Cole , senior currency strategist at RBC Capital Markets in London
Singapore releases inaugural forex volumes survey
SINGAPORE – The Singapore Foreign Exchange Committee released its inaugural survey of foreign exchange volume in the city-state last week.
Hedging foreign currency earnings with basket options
By Ramon Espinosa , GFX-Portfolio and risk strategy, Jim Kamphoefner , GFX solutions and Andria McLintock , GFX options at Bank of America
EBS ends sale speculation
LONDON – Interdealer broker Icap last week confirmed it is in discussions to acquire electronic forex heavyweight EBS.
Western Union joins forces with Travelex
LONDON – Western Union, the worldwide money transfer service, and Travelex, the world's largest non-bank foreign exchange payment firm, have signed an exclusive agreement whereby the latter offers Western Union's transfer service.
Support for the greenback is fading
The factors supporting US dollar strength are starting to wear off, according to Trevor Williams, chief economist at Lloyds TSB Financial Markets in London.
Commerz continues to rebuild
FRANKFURT & LONDON – Commerzbank has boosted its FX team with four new hires in London and Frankfurt, as it continues to rebuild after cutbacks in late 2004.
BOA falls in FX
NEW YORK – Bank of America (BoA) posted a fall-off in FX trading-related revenue for 2005 versus the previous year in its annual results released last week.
Sale offers a fresh start for EBS
And they're off! Yes it's finally out in the open, EBS is up for sale, and we've got a good idea who the runners and riders are.
Fundamentals star in December
With hedge funds becoming increasingly interested in foreign exchange as a source of alpha, FX Week in conjunction with SEB and Mellon has collated data indicating how 35 leading hedge funds have fared over the last year and a half
EBS ends sale speculation
LONDON – Interdealer broker Icap last week confirmed it is in discussions to acquire electronic forex heavyweight EBS.
Tullett Prebon sets up volatility division
LONDON – Tullett Prebon has established a volatility division, in the final stage of restructuring since parent company, Collins Stewart Tullett, acquired Prebon Yamane in 2004.
And now, the weather, from CoesFX
PLAINVIEW, NEW YORK – New York portal CoesFX last week launched a tool to predict foreign exchange rates using a 'weather forecasting' format to enable users to factor in more variables.
Integral Development boosts staff
MOUNTAIN VIEW, CALIFORNIA – Integral Development, provider of capital markets products and services, has hired five staff in business development, finance, research and marketing.
Reuters launches new version of DataScope
NEW YORK – Reuters last week launched DataScope Select, a new version of its back-office solution intended to provide more flexible access to a broader range of data.
Deutsche Bank cuts out $1 trillion
LONDON – Deutsche Bank cut out $1 trillion of what it described as 'predatory trades' last year, as it repositioned its business to make it more profitable.
BGC adds institutional FX
LONDON – BGC, the voice and electronic broking business of Cantor Fitzgerald, has confirmed the creation of an institutional FX trading desk.
A year of transition
G7 monetary policy will drive down the dollar, but in a year of policy gradualism and recovering global growth, its decline is likely to be orderly, say Lena Komileva , G7 market economist and James Potter , MD treasury at Tullett Prebon