Trading
German hedge fund reform raises FX hopes
MUNICH -- New proposals for the laws governing hedge funds and funds of funds in Germany could open up the market to a wider audience and heighten FX opportunities.
State Street and BoNY buck earnings downtrend
NEW YORK -- State Street and Bank of New York bucked a downward trend in US banks’ forex revenues for the first six months of 2003, according to first-half results released last week.
Investment banks drive for diversity
LONDON -- Investment banks are not known for being the most receptive working environments for women or ethnic minorities. The entertainment media perpetuates perceptions about the hard-drinking hard-working aggressive lifestyle of bankers on Wall Street…
Asset sales support baht and rupiah
A wave of asset sales and privatisation in Indonesia and Thailand looks set to strengthen the Indonesian rupiah and Thai baht, says Irene Cheung (right), Asian sovereign and FX strategist at ABN Amro in Singapore
MMS globalises forex analysis coverage
LONDON -- FX and fixed-income research firm MMS International has enhanced its forex analysis by globalising its coverage, said senior officials.
Reuters sues Bloomberg
Trading technology rivals’ battle heats up over forex patent claims NEW YORK -- US trading technology firm Bloomberg could be forced to stop using parts of its FX matching and conversational dealing technology, if its UK rival Reuters succeeds in a…
Philippine central bank mulls rule change for peso forwards
MANILA -- The Central Bank of the Philippines is considering lifting the six months restriction on peso forwards, its deputy governor Amando Tetangco told FX Week last week. However, he said the move was still in the planning stage, and that the monetary…
Reuters sues Bloomberg
Trading technology rivals’ battle heats up over forex patent claims NEW YORK -- US trading technology firm Bloomberg could be forced to stop using parts of its FX matching and conversational dealing technology, if its UK rival Reuters succeeds in a…
A ‘worst-of’ option to hedge dollar weakness
Andy Kaufmann, FX structurer at Merrill Lynch in London, explains a solution for an investor who is looking to benefit from a USD move against a variety of currencies
Yuan’s US dollar peg to stay despite speculation
Beijing – Speculation that China may relax the yuan’s US dollar peg refuses to go away. Following media reports in June of US Treasury Secretary Jon Snow saying the Chinese government is considering widening the yuan’s trading band, the rumour mill is…
CFTC continues FX fraud crusade
WASHINGTON – The US Commodity Futures Trading Commission (CFTC) has continued its crusade against fraudulent retail FX firms in the US, with three enforcement actions so far in July.
Dealing with yen downside risk
A collapse in the dollar/yen could offer significant trading benefits. How should an FX trader deal with the downside risk? By John Taylor, chairman of FX Concepts in New York
CME brings futures to CLS
CHICAGO – The Chicago Mercantile Exchange (CME) has become the first exchange to use the continuous linked settlement (CLS) service, extending use of CLS into a new market.
CME brings futures to CLS
CHICAGO – The Chicago Mercantile Exchange (CME) has become the first exchange to use the continuous linked settlement (CLS) service, extending use of CLS into a new market.
Fimat forex launch in Poland
LONDON – Fimat Group, the brokerage arm of French investment bank SG, is developing new exchange-related FX futures contracts in eastern Europe in a bid to widen the currency product portfolio for its institutional client base, a senior official told FX…
FXall reaches profitability
New York – Multi-bank portal FXall now earns more than it outlays on a monthly basis, it said last week, over two years after its May 2001 launch.
Fed reserved
For all its talk of deflation, the Fed fails to walk the walk, says Alan Ruskin, research director at 4Cast in New York
Rupee options launch today
MUMBAI – Banks in India can start trading rupee/foreign currency options today, following the lifting of restrictions from the Reserve Bank of India (RBI).
Dollar still top currency for central banks
LONDON – Market speculation that central banks began rebalancing their reserves away from the dollar last year was misled, according to the Bank for International Settlements’ (BIS) annual report released last week.