Trading
Four new currencies on CLS
NEW YORK -- The continuous-linked settlement (CLS) service goes live with four new currencies today (September 8), a senior official at the firm told FX Week .
All eyes on the Middle East
Growing interest in Islamic banking, new technological developments and a wave of freshly repatriated money have put forex trading in the Middle East on the cusp of an exciting new era, reports Nikki Marmery
EBS sterling push prospers
LONDON -- EBS’s recently launched sterling package has resulted in a 30% increase in new counterparties to the system, an official at the spot broker in London told FX Week.
Malaysia leads the way in the Far East
KUALA LUMPUR -- The Middle East is not the only region in which Islamic banking is undergoing development. The Asia-Pacific region has a thriving Islamic finance industry, based chiefly in Malaysia, which is home to the Islamic Financial Services Board …
Changing seasons
Summer volatility in a number of emerging markets is not unusual. Indeed, in the currencies of central and eastern Europe (CEE) it is the rule rather than the exception, says Callum Henderson, head of emerging markets research at Bank of America (BoA) in…
Citi takes Moneyline
LONDON -- Citigroup is replacing multiple Reuters products with Moneyline Telerate services at about 2,000 positions in the firm’s global fixed income division, Moneyline said last week.
Four new currencies on CLS
NEW YORK -- The continuous-linked settlement (CLS) service goes live with four new currencies today (September 8), a senior official at the firm told FX Week .
Prime broker fees "too low"
LONDON – Pricing credit risk has come under scrutiny from central bankers in London, as increased competition for prime brokerage business has brought service fees crashing down.
Weak economy could prompt Taiwan currency strengthening
TAIPEI – Taiwan’s weak economy could force the currency higher, according to Barclays Capital last week.
Prime broker fees "too low"
LONDON – Pricing credit risk has come under scrutiny from central bankers in London, as increased competition for prime brokerage business has brought service fees crashing down.
Asian central banks favour liberalisation
Recent developments suggest a move towards liberalisation rather than revaluation in Asian currencies, says David Mann (right) economist at Standard Chartered Bank in London
Dual deposits reap high-yield rewards
Ray Franzi, head of FX structuring at Dresdner Kleinwort Wasserstein in London, offers an opportunity for customers to achieve high Japanese yen deposit rates
FX futures contribute to surge in managed assets
LOS ANGELES – The managed futures industry has experienced record-breaking growth over recent months, and currency futures form a "very significant" part of that, according to a report from US-based specialist research firm The Barclay Group last week.
Scandinavia beckons FX fund managers
LONDON – Low interest rates and relaxed legislation in Scandinavia and continental Europe could make institutional investors in those regions key prospects for currency fund managers.
Report reveals overlay lag
LONDON – Institutional investors in Europe remain unconvinced of the merits of currency overlay, according to a report out last week.
STP break puts banks at risk
NEW YORK -- Third-party banks using the continuous-linked settlement (CLS) service may be subject to increasing operational risk as a result of a breakdown in straight-through processing (STP), according to one STP vendor.
Time for Asian exporters to 'switch'
Phileas Wong, associate director of risk management advisory at HSBC in Hong Kong, explains how switchable forwards could help exporters in Asia hedge the risk of local currency strength
UBS FX down despite strong Q2
ZURICH -- UBS last week reported an 11% year-on-year drop in its FX trading income for the first half of the year, to Sfr789 million ($584 million), from Sfr885 million in H1, 2002.
The euro: a relief valve for imbalance
As the dollar's decline is set to continue, the euro bears the brunt of the global trade imbalance, says Michael Woolfolk, senior currency strategist at Bank of New York in New York