Trading
Hong Kong limits speculative trading
HONG KONG – May saw speculation about the shift in the renminbi peg affect the policy of neighbouring economies.
News in brief
CLS to cut prices
Deutsche boosts prime brokerage
LONDON – Deutsche Bank upped the ante for prime brokerage providers by extending its offering with the introduction of options, non-deliverable forwards (NDFs) and increased processing capabilities.
Commodity currencies are set to sparkle in 2006, says Trevor Williams, chief economist at Lloyds TSB Financial Markets in London
Go for the currencies with the commodities
2005: a positive year for forex
NEW YORK – The Foreign Exchange Committee (FXC) last month issued best practice guidelines for prime brokerage in response to rising participation and transaction volumes in the space.
Terrorist attacks hit e-trading
LONDON – The July 7 terrorist attacks in London caused widespread disruption to electronic trading, with spreads widening considerably and at least one bank not delivering prices to a portal.
Preparing for Korean won under-performance in 2006
Standard Chartered’s economics and FX strategy team suggest ways to position for a weaker Korean won in 2006
News in Brief
FX Connect hikes prices pre-upgrade
China heading for free market
BEIJING – China took two further steps towards currency liberalisation with a widening of the yuan trading band and the introduction of forwards trading for corporates.
Best practice guidelines for prime brokerage
NEW YORK – The Foreign Exchange Committee (FXC) last month issued best practice guidelines for prime brokerage in response to rising participation and transaction volumes in the space.
CFTC charges 13 with defrauding $6m
WASHINGTON, DC – The Commodity Futures Trading Commission (CFTC) has charged 13 Florida residents with defrauding nearly 400 customers of more than $6 million. The CFTC filed a complaint on December 22 charging the 13 with fraudulently misappropriating…
UBS and Bloomberg deal draws criticism
LONDON – UBS and Bloomberg started their year off controversially after a deal for global futures trading through the market data terminal drew criticism from brokers. Under the agreement set in place in 2004, futures trades placed by new users of the…
PBoC liberalises derivatives
BEIJING – The People’s Bank of China (PBoC) issued new regulations allowing banks to trade renminbi forwards and cross-currency swaps in the interbank FX market.
Best practice guidelines for prime brokerage
NEW YORK – The Foreign Exchange Committee (FXC) last month issued best practice guidelines for prime brokerage in response to rising participation and transaction volumes in the space.
Forex head leaves RBC Capital Markets
TORONTO – RBC Capital Markets' most senior member of foreign exchange staff has left the bank, a source on the desk has confirmed.
Canadian dollar hits new heights
OTTAWA – Almost four years after it hit an all-time low, the Canadian dollar (loonie) is riding on the crest of a wave after reaching its highest level in years.
Record results for US banks
NEW YORK – US investment banks have stormed through 2005, with record-breaking results from fixed-income divisions released last week.
Enigma – a cracking good model
Pete Eggleston, head of quant solutions at the Royal Bank of Scotland, financial markets, in London, discusses systematic trading of FX implied volatility using the 'Enigma' model
Thinking outside the US dollar
Marios Maratheftis, FX strategist at Standard Chartered in London, sees an end to the dollar's rally, and describes how high yielders together with Asian and African currencies are offering exciting opportunities
BGC poaches seven from IFX
LONDON – A seven-strong sales and trading team are understood to have quit IFX Markets – the London-based financial trading and spread-betting company – last Friday.
ODL expands into Chicago
LONDON – ODL Securities is expanding its global presence with a new sales office in Chicago, according to a senior official in London.
NYSE launches euro-linked shares
NEW YORK – The New York Stock Exchange (NYSE) last week launched shares linked to the euro, demonstrating the growing demand for exchange-traded currency products.