Trading
Medium-term outlook good for Aussie dollar
SYDNEY -- Market participants in the Asia-Pacific region remain bullish on the medium- to long-term outlook for the Australian dollar.
Deutsche bridges private banking and forex
LONDON -- Deutsche Bank is seeing increased forex business from its private clients following the recent appointment of David Bee in London. Bee is working with Jim Turley, global head of FX in London, and several members of the senior management in…
Continuity plans pass outage test
NEW YORK -- Contingency business plans put in place after September 11 passed the test posed by North America's massive power cut last week, market participants reported.
ACI moves forward to Beirut
BEIRUT -- 'Moving forward' is the theme of forex industry body ACI's global congress, due to be held in Beirut on September 10--14.
'Click and deal' key for funds
LONDON -- Providing clients with the ability to trade FX directly from live streaming prices could prove key for banks targeting a range of clients, said e-FX officials speaking last week.
FXTV to launch in September
NEW YORK -- A dedicated FX video news service, Forex Television, is set for launch on September 1, said an official at joint owner eTV-Media, a provider of streaming media services.
'Click and deal' key for funds
LONDON -- Providing clients with the ability to trade FX directly from live streaming prices could prove key for banks targeting a range of clients, said e-FX officials speaking last week.
UK banks profit on volatility
LONDON -- Active and volatile currency markets helped UK banks to increase profits from foreign exchange dealing, according to interim results announced last week.
Time to sell dollars with bonds
With global demand for savings rising, minimal growth in the savings pool, and shifts in notions of sovereign risk for debtor countries such as the US, it is time to sell dollars, says David Gilmore, partner at FX Analytics in Essex, Connecticut
Participating in rupee options
Following the launch of rupee options trading in India in July, Arun Khurana, head of financial markets distribution & derivatives marketing at ABN Amro in Mumbai, proposes a zero-cost 'participating forward' solution for an Indian client wanting to…
Bomb fails to blast rupiah
JAKARTA -- Last week's bomb blast outside a hotel in Jakarta will have a minimal long-term impact on the Indonesian rupiah, say local market participants.
HSBC issues remittances challenge to Citi
LONDON -- HSBC last week issued a challenge to Citigroup by declaring its intention to target the $10 billion a year US/Mexican remittances market.
CLS to include Korean won
NEW YORK -- CLS Bank, which operates the continuous-linked settlement service for FX, will today announce its plans to include the Korean won as a CLS-eligible currency.
Amex Bank results jump
American Express Bank last week reported year-on-year growth of 30% in revenues from FX trading for the first half of 2003.
PaR signals return of FX risk specialists
LONDON -- Growing interest from hedge funds in banks’ FX services have been a marked feature of the markets in the past 18 months. But that relationship can work both ways, reports one new currency fund, which has seen a wave of interest from banks…
Banks win a partial reprieve from IAS 39
BRUSSELS -- The International Accounting Standards Board (IASB) has approved an amendment to rules for macro hedging under the upcoming IAS 39 accounting standard for European banks.
Resetting forward solution for Korean exporters
Gail Sheridan, financial engineer at UBS in Singapore, offers a hedging solution for Korean companies looking to guard their US dollar revenues against the possibility of a strengthening won
Lehman Brothers continues forex hiring drive in London
LONDON -- Lehman Brothers has hired nine forex staff in London in the past three months as part of its continued FX build-up. Two more -- including global head of FX Grant Whiteside -- have transferred to the City from New York, as the bank pursues a …
Deutsche says FX strong in H1
FRANKFURT -- Deutsche Bank last week said it had "very strong" FX trading results for the first six months of the year, reflecting the bank’s overall interim results. Jim Turley, global head of foreign exchange at Deutsche Bank in London said: "Client…
PaR signals return of FX risk specialists
LONDON -- Growing interest from hedge funds in banks’ FX services have been a marked feature of the markets in the past 18 months. But that relationship can work both ways, reports one new currency fund, which has seen a wave of interest from banks…