Trading
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
This inequality must be reduced
The picture of the FX trader as a macho working class white male may to some degree be dated, but there is still not enough diversity in the market.
CLS Bank sets new volume record
LONDON/NEW YORK – CLS Bank has set a new record for the volume of payment instructions settled in one day.
London behind on gender equality
LONDON – The paucity of women forex professionals in London is likely to persist as its reputation as a male-dominated arena continues, according to market observers.
Facilitate to accumulate
Kim Fournais, chief executive of Saxo Bank, says the race to deliver the perfect multi-product trading platform need not be a zero-sum game
BarCap adds CME options to Barx
NEW YORK/CHICAGO – Barclays Capital has become the first bank to provide CME eurodollar options strategies capability to its electronic trading system, Barx.
TMS reaps benefits of US strength
TMS Brokers' purple patch in the 12-month rankings follows the firm's bullish dollar view it adopted a year ago, said Jarosaw Mikoajczyk, managing director at the Polish firm in Warsaw.
Korea to restrict currency data
SEOUL – The Bank of Korea (BoK) is set to restrict parties that are able to view real-time currency data, in a bid to curb currency speculation, from next month.
Milan bank makes cuts overseas
MILAN – Banca Popolare di Milano has closed its overseas FX capabilities and now operates exclusively from Milan.
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.
ABN names new Asia distribution head
SINGAPORE – ABN Amro has named Andrew Ford regional head of foreign exchange and local markets distribution for Asia-Pacific in Singapore, as the Dutch bank continues its push in the region.
Nybot launches euro index
NEW YORK – The New York Board of Trade (Nybot) will today launch trading in euro index options, as further evidence of the demand for exchange-traded currency products.
From crystal balls to digital options
Sometimes one just wants to know – how much can I lose? Evan Steed , vice-president and director, FX options at TD Securities in Toronto, looks at three funding possibilities that can hopefully reduce this uncertainty
Wealth management: the new investment banking?
LONDON – Wealth management could become "the next investment banking", as more investment banks look for alternative sources of liquidity in an already over-saturated market, according to market participants.
Bank of England revises forex guidelines
LONDON – The Bank of England last week introduced its updated code on good market practice in foreign exchange, changing its format and making amendments to its content.