Trading
Dow Jones adds to forex coverage
HONG KONG – Dow Jones Newswires has launched a website to complement its 'CommentaryPlus' real-time commentary and analysis service.
China heading for free market
SHANGHAI and Beijing – China took two further steps towards currency liberalisation last week, with a widening of the yuan trading band and the introduction of forwards trading for corporates.
All this and more
In the final multibank platform focus, FX Week looks at the prospects of FXall in its bid to continue the growth it saw in its first four years
StanChart becomes EBS Prime bank
LONDON – Standard Chartered has joined EBS Prime as a prime bank, in a move the platform hopes will boost its penetration in emerging markets.
Eurex US takes fight to CME
CHICAGO – Eurex US, the American subsidiary of Germany's Eurex, launched its bid to take on the CME in the FX futures market on Friday, as it started trading with 20 market-makers.
Central banks increase FX holdings
BEIJING AND WASHINGTON DC – A Chinese official last week highlighted the possibility of a significant move out of US dollar reserves, as the latest IMF figures show central banks have continued to hold faith in the greenback.
GFI and Traiana offer processing boost for forex options trading
NEW YORK and LONDON – FX options trading is to get a boost, with broker GFI and technology vendor Traiana both launching automated processing services in the market.
Hotspot FXi adds Singapore dollar trading
SINGAPORE – Electronic trading platform Hotspot FXi has today launched trading in Singapore dollars to meet growing demand from clients.
When is it appropriate to use average rate options?
Corporates can fall into the trap of using average rate options as a cheaper alternative to European options. Jeff Cooper (right), vice-president, foreign exchange, Bank of Montreal in Toronto, clarifies the misconception
China stirs the pot
Daniel Katzive, UBS currency analyst in Stamford, looks at the implications of China's decision to widen the band on the yuan peg
UBS reaps distribution rewards
STAMFORD – UBS is seeing strong take-up for dual currency deposits (DCDs) by US retail clients after launching the product for the US market earlier this year.
GFI and Traiana offer processing boost for forex options trading
NEW YORK and LONDON – FX options trading is to get a boost, with broker GFI and technology vendor Traiana both launching automated processing services in the market.
Structured products in the spotlight
WASHINGTON, DC – Concerns over the mis-selling of structured products to investors in the US has prompted the National Association of Securities Dealers (NASD) to issue guidelines to ensure members fall within the scope of sales practice codes.
RBS hits top spot in Risk poll
LONDON – Derivatives market giants Deutsche Bank, JP Morgan, UBS and Credit Suisse First Boston (CSFB) are facing a threat from a wider number of banks trying to capture interbank business.
CST merger leads to derivatives domination
LONDON – The £132 million Collins Stewart Tullett (CST) acquisition of Prebon Yamane last October has propelled the combined group to domination of the broker categories for interest rate and currency derivatives in sister pulication Risk 's 2005 inter…
Platforms adopt algorithmic trading
NEW YORK – Algorithmic trading continues to gather momentum, with trading platforms EBS and Hotspot FXi linking to software provider Progress Software Corporation's Apama Algorithmic trading software.
Iceland builds foreign reserves
REYKJAVIK – The Central Bank of Iceland (CBI) has decided to increase its USD/ISK weekly buying from $2.5 million to $12.5 million by the end of the year following the improved liquidity position of the Treasury.
The first to Connect
In the penultimate platform focus, FX Week assesses the prospects of pioneering platform FX Connect
Oiling the wheels of kroner strength
Adam Myers, FX strategist at UBS in London, discusses the potential for a Norwegian kroner (NOK) setback in the short term Ministry of Finance and the Norges Bank Petroleum fund
Katrina adds to uncertainties
Recent events, notably hurricane Katrina, have jolted currency markets out of recent stability. This helped Bank of Montreal race towards the top of the three-month ranking as it predicted a weaker dollar in June.
Platforms adopt algorithmic trading
NEW YORK – Algorithmic trading continues to gather momentum, with trading platforms EBS and Hotspot FXi linking to software provider Progress Software Corporation's Apama Algorithmic trading software.
Banks risk US regulatory backlash
NEW YORK – FX banks could face a regulatory backlash in the US for the mis-selling of FX products by retail brokers, warn market players.
GFT tops the trend-spotters
GFT tops the three-month year-to-date forecasts this week by focusing on technical analysis, fundamentals and sentiment to obtain short- and long-term perspectives for determining currency trends, said Paul Jamgotch, managing dealer.