Trading
Algorithmic trading: the new FX frontier
NEW YORK – Algorithmic trading is set to become the new frontier of foreign exchange trading, according to market analysts.
FX Week USA Congress, NY
NEW YORK – Following the success of last year’s inaugural USA congress, FX Week will be hosting its second annual meeting of industry players in New York this Thursday.
More terror likely to hit markets
The terrorist attacks that hit London are not the last we will see, and invetsors should react accordingly, says Andrew Busch, global market strategist at Bank of Montreal in Chicago
Icap offers streaming FX prices
LONDON – Icap is set to offer streaming prices to customers on its forwards platform, as the broker seeks to expand its presence in the electronic broking space, and offer competition to Reuters.
Predicting the unexpected
Extreme value theory is an effective way of predicting the large moves frequently seen in currency markets, says Collin Crownover, global head, investor risk advisory group at Citigroup in New York
Central Europe and Turkey: no cause for concern
The EU’s referendum/budget does not, as some have suggested, spell doom for central European currencies and the Turkish lira, says Meg Browne, head of FX research at Brown Brothers Harriman
OCC reports decline in forex derivatives trading
WASHINGTON, DC – Foreign exchange has bucked the trend for derivatives trading with a fall in value for the first quarter of the year, according to the US Office of the Comptroller of the Currency (OCC).
RBC departures in sales and trading
LONDON & NEW YORK – Royal Bank of Canada (RBC) is to scale down its forex operations in New York, and is understood to be closing its prop desk in London with the departure of veteran trader Keith Dack.
Indicators hit the mark
GFT Forex tops the three-month year-to-date rankings for the fourth consecutive week by focusing on technical indicators and market sentiment in its analysis of the US dollar.
Eurex optimistic over forex venture
CHICAGO – Eurex's entry into FX will be facilitated by "the lack of domination in this space", according to Satish Nandapurkar, Chicago-based chief executive officer of Eurex US. He was speaking to FX Week following the exchange's recent move into FX…
Using probability for barrier placement
Mark Miklavs, director, structured derivatives at HBOS treasury services in London, develops an option hedging strategy to take advantage of the recent pick-up in volatilities by using normal distribution to provide a theoretical perspective on barrier…
Don't bank on a UK rate cut
A UK rate cut is far from a done deal, says Lee Ferridge, a proprietary trader at Rabobank International in London
Clampdown on speculators in Asia
JAKARTA – Asian authorities have clamped down on speculative trading, with a string of new FX controls across the region.
Eurozone undermined by political concerns
Hans Redeker, global head of FX strategy at BNP Paribas in London, points to a return to awareness of political risk in the EU
NAB currency trader jailed
MELBOURNE – Luke Duffy, former head of the National Australia Bank’s (NAB) foreign currency options desk, has been sentenced to 29 months’ imprisonment for his part in the bank’s rogue trading scandal unearthed last year.
Gaining from oppostion
4Cast tops the one-month ranking following positions taken on the opposing forces of interest rate differentials and the twin deficits in the US, said Chris Furness, senior market strategist at the firm in London.
Trio of departures from Citigroup
NEW YORK – Citigroup has lost another two FX staff in New York and one in London, following earlier departures and the closure of desks in continental Europe.
CLS bags world’s largest pension fund
AMSTERDAM – The world’s largest pension fund – the e170 billion Stichting Pensioenfonds ABP – has gone live on CLS as a third party of ABN Amro.
Multi-hurdle barrier options
Remy Marino, head of structuring, interest rates, currencies and commodities at Calyon in New York, discusses how investors or hedgers can optimise the cost of their barrier strategies by utilising a multi-hurdle barrier option
Eurex joins FX futures fray
CHICAGO AND FRANKFURT – Eurex, the Frankfurt-based derivatives exchange, has entered the FX market with a September date set for the launch of its futures platform.
Patsystems supports CME on Reuters
LONDON – Software vendor Patsystems has signed a deal to provide technology supporting Chicago Mercantile Exchange (CME) FX on Reuters, as it looks to extend into new areas and develop beyond traditional markets.
More EM currencies for RBS FiX
LONDON – Royal Bank of Scotland (RBS) has made a further upgrade to its online FX service, RBS FiX, with the addition of forward benchmark prices for 12 emerging markets currencies.
CMC Markets adds new products and offices
LONDON/TORONTO – Online FX platform CMC Markets is set to expand with the launch of new currency baskets and additional offices globally.