Trading
Top five dealers close ranks
Shrinking market rewards top players in biggest ever forex survey
French push for ECB reform
PARIS -- A French economic think tank has urged European authorities to reform the European Central Bank (ECB) ahead of the enlargement of the European Union and the eurozone.
Aussie funds shun overlay
SYDNEY -- Australian superannuation funds’ use of currency overlay has declined, according to a report made public last week.
Malaysian central banker addresses forex market
KUALA LUMPUR -- The governor of the Central Bank of Malaysia last week told forex dealers the concept of a single Asian currency was unlikely in the immediate future. But, "this does not preclude greater co-operation on exchange rate issues and other…
AIG joins CLS as new shareholder
LONDON -- American International Group (AIG) has become a shareholder of CLS Group Holdings, the holding company for Continuous Linked Settlement (CLS), the firm announced last week.
Asian banks reinvent treasury
KUALA LUMPUR -- Banks in Asia are reinventing their treasury departments to become more customer-centric, with increasingly sophisticated products, heard delegates at the forex industry congress in Kuala Lumpur.
Vendors showcase custom-built solutions
KUALA LUMPUR -- Customised solutions dominated the trade show at the ACI -- The Financial Markets Association’s 22nd Asia Pacific Congress earlier this month.
Congress bites
CME launches online futures tool
Real makes shaky steps to recovery
SAO PAULO -- The Brazilian real has steadied in the aftermath of the recent presidential elections, but Brazil’s debt problems are still threatening the currency.
Reuters adds Singapore dollar trading to D-3000
SINGAPORE -- Information and technology firm Reuters last week launched Singapore dollar forwards trading on its Dealing 3000 platform.
Reuters adds Singapore dollar trading to D-3000
SINGAPORE -- Information and technology firm Reuters last week launched Singapore dollar forwards trading on its Dealing 3000 platform.
Rate cut turns market anti-dollar
NEW YORK -- The US dollar hit three-month lows against several major currencies last week, triggering a welcome return of volatility to the markets after months of range trading.
Overlay demand hits new peak
LONDON -- An anticipated decline in the value of the US dollar is boosting demand for currency overlay, according to FX specialists in London and New York.
That sinking feeling
Policy flexibility and high productivity have supported the dollar, but they aren’t enough to turn the tide of weak growth and negative technical signals, says Francesca Fornasari.
Credit ratings come into FX focus
LONDON/NEW YORK -- Credit ratings are becoming increasingly significant to FX market players, with downgrades increasing in the current economic downturn, market participants told FX Week .
Citi to outsource e-liquidity
Forex giant goes online to service growing ranks of 'buy-side' banks
Germany: the eurozone laggard
There are several positive influences on the euro, but the German economy is holding the currency back, says Nick Bennenbroek, international economist at Brown Brothers Harriman in New York
Swissie stays stable
Risk aversion has aided Swiss franc progress, says David Durrant, chief currency strategist at Julius Baer Asset Management in New York
Expansion in forwards trading and teams
LONDON -- The FX forwards market is seeing an influx of new dealers and trading systems as players battle for market share in the lucrative sector.
BIS: e-FX may impact liquidity, volatility
BASLE -- Market participants fear the rise of electronic trading may adversely impact liquidity and volatility in the FX markets, according to the Bank for International Settlements (BIS).
Short-term divergence
Traders seeking to exploit medium-term misalignments in FX rates should take a close look at euro/Norwegian krone and dollar/Swiss franc trends, says Aziz McMahon, FX strategist at ABN Amro in London
Sungard coup for FXConnect
LONDON -- State Street Corporation is to announce this week it has secured a coveted deal with UK treasury software firm Sungard.
Market mulls options benchmark
LONDON -- Standard FX options benchmark prices could be the answer to inaccuracies in marking exposures to market, but whether the move is possible is a matter for debate, according to senior options market participants.
Asian forex players muster in Malaysia
KUALA LUMPUR -- Forex market players in Asia will gather in Kuala Lumpur this week for ACI -- The Financial Markets Association's 22nd Asia Pacific Congress.