Trading
HKMA limits spec trading
HONG KONG – Authorities clamped down on speculative trading on the Hong Kong dollar last week by introducing a ceiling on the currency at HK$7.75 per US dollar.
Forex site launched by London Capital
LONDON – Spread betting firm London Capital Group is to launch a foreign exchange platform following a management buy-out.
Citic chooses Sophis
HONG KONG – Citic Capital, the international investment banking arm of China International Trust and Investment Corporation (Citic) Group, has selected Risque as its core platform for risk management and proprietary trading for processing in FX,…
GFI launches Fenics dealFX
NEW YORK – GFI Group is to demo Fenics dealFX, a foreign exchange options trading system that it launches this week at the congress.
Stockie weakness despite economic strength
STOCKHOLM – For a currency with such strong economic fundamentals, the Swedish krona has seen surprising weakness this year, as many in the market have discovered to their cost.
Q&A: John Nelson
To mark 15 years of FX Week , we carry a Q&A with our first subscriber, look at three major pairs opposite and run three of the key stories shaping the industry
Reuters showcasing latest additions
STOCKHOLM – Reuters will be exhibiting its expanded electronic trading portfolio, including the impending Reuters trading for foreign exchange, at the congress.
Top stories from 15 years of FX Week Emerging markets' glitter fades
KUALA LUMPUR – Foreign exchange controls imposed on the Malaysian ringgit on Tuesday, September 1, have sparked fears that the shine may have left the emerging currencies market, according to industry sources.
How to benefit from a weaker pound
For the currency manager looking to take advantage of fresh sterling weakness, Simon Derrick, head of Bank of New York's currency strategy team, describes a simple, low-cost way for them to express their view
Interbank FX trading takes off in China
SHANGHAI – China Foreign Exchange Trading System (CFETS) opened its interbank FX trading business last week, leading to speculation that a shift in currency policy may be imminent.
Correction for greenback pays off
Online forex trading firm MG Financial tops the one-month ranking following its decision to correct its EUR/USD forecast back in early April, said Ashraf Laidi, chief currency analyst in New York.
Traders lured by hedge funds
LONDON – Banks are finding it hard to hold on to top-quality sales and trading staff as the exodus to hedge funds has gathered pace.
Will sterling lead the USD?
Hans Redeker, global head of FX strategy at BNP Paribas in London, says recent strength in the dollar is likely to be short-lived
SuperD launches reval product
NEW YORK – Pricing systems vendor SuperDerivatives has expanded its suite of services with the launch of a revaluation service.
No need to shift the Hong Kong dollar peg
Tai Hui (right), economist at Standard Chartered in Hong Kong, presents four reasons why the Hong Kong authorities should not change the HK dollar’s peg to the greenback
No soft patch for the dollar
Bank of Montreal (BMo) tops the three-month ranking with a view that the US economy would not go through the soft patch some of the other banks were predicting.
Prime brokerage threatening banks
LONDON – Banks are charging far too little for prime brokerage to be profitable, according to market players.
Chinese whispers cause confusion
BEIJING – Currency markets were thrown into disarray last Wednesday following an inaccurate news report by a Communist-party-backed news agency claiming China would allow the yuan to appreciate.
Prime brokerage threatening banks
LONDON – Banks are charging far too little for prime brokerage to be profitable, according to market players.
Dollar hits European banks
ZURICH – The dollar’s correction at the beginning of the year hit European banks, which posted a mixed bag of results in forex last week.
Bullish dollar view wins out
Informa Global Markets and HBOS top the three-month and one-month tables, respectively, by sticking with a bullish view on the dollar.