Trading
HSBC wins Asian forex derivatives award
HONG KONG -- HSBC was named 'Forex Derivatives House of the Year' in FX Week sister magazine AsiaRisk's 2002 awards, published this month.
DrKW reorganises capital markets
LONDON -- Dresdner Kleinwort Wasserstein (DrKW) has appointed Achilles Macris and Erich Pohl as global co-heads of its capital markets operation in London, the bank announced last week.
Reliant on foreign inflows
Stock markets may be falling, but foreign investors are still buying US equities, says Michael Woolfolk, currency strategist and head of North America research at Bank of New York
Citigroup defies downturn
Top player’s revenues up again as gap widens between the best and the rest
Sterling: the big-picture view
The UK economy is looking increasingly like Cinderella among the ugly sisters of Japan, Europe and the US, says David Bloom, currency strategist at HSBCin London
Barclays bolsters global line-up with 10th new recruit this year
LONDON -- The wholesale expansion of Barclays Capital's forex group continued last week with the hire of a new global head of foreign exchange structuring.
Dealers suffer continued M&A woes
LONDON -- Forex-related mergers and acquisitions (M&A) activity slumped further in Q3, according to data published earlier this month, adding to a difficult year for corporate sales.
MMS plans growth in forex analysis
LONDON -- FX and fixed-income analysis provider MMS International, part of the newly formed MMS Group, is to grow its headcount by 20%.
Euro, yen: G3 laggards
As domestic demand in the Eurozone and Japan slumps, the dollar has shrugged off news of a current account deficit, says Richard Grace, senior currency strategist at WestLB
Upsurge in German forex
FRANKFURT -- Deregulation of the German insurance market is attracting the world's top investment banks to expand in Frankfurt.
Real hammered as election woes bite
SAO PAULO -- The Brazilian real dropped near to its lowest-ever level last week as political uncertainty continued following the presidential election on October 6.
Changing face of forex intervention
LONDON -- The changing nature of what motivates forex players to trade has shifted the thinking behind official intervention in the currency markets, according to James Trott, former chief dealer at the Bank of England.
Sterling credit crisis raises FX fears
LONDON -- Fears for the long-term future of sterling forex have been heightened by the revelation of a liquidity crisis in sterling bonds.
Misreading the signals
The US current account deficit is an overestimated factor in determining the dollar's direction, says Niels Christensen, senior currency strategist at SG in London
China FX emergence continues
BEIJING -- The liberalisation and development of China’s FX market is continuing, presenting banks with a potentially lucrative new market.
European currencies win out as Japan and US woes bite
LONDON -- European currencies were the winners last week as fears over economic and political issues intensified pressure on the dollar and the yen.
European currencies win out as Japan and US woes bite
LONDON -- European currencies were the winners last week as fears over economic and political issues intensified pressure on the dollar and the yen.
The lira: built to last
Despite political and economic upheaval, the Turkish lira has remained strong, says Matt Vogel, head of strategy for EMEA at Barclays Capital in London
Options business booming
Growing client sophistication prompts banks to expand in derivatives
ABN Amro scores CLS coup
AMSTERDAM -- ABN Amro Bank announced three clients for its third-party Continuous Linked Settlement (CLS) service last week, scoring a coup in the highly competitive market.
Aussie seeks momentum
The Aussie remained trapped within September’s tight trading range during the first week of October, says Adam Myers, quantitative FX strategist at Westpac Bank in London.