Articles by FX Markets Staff
Citigroup loses four in Milan sales
MILAN – US bank Citigroup has lost a number of its Italian FX institutional sales team in Milan in recent weeks, according to market sources.
North American companies not ready to take on FX risk
NEW YORK – North American firms are insufficiently prepared to deal with FX risk, according to a survey by forex specialist Travelex.
New record for CME
CHICAGO – FX products on the Chicago Mercantile Exchange (CME) averaged a record 501,000 contracts per day in May, up 69% over the same period last year.
Moscow bourse launches interest rate futures
MOSCOW – Moscow Interbank Currency Exchange (Micex) launched trading in short-term rouble interest rate futures last week.
IT spending 'will double' by 2010
LONDON – Dealers will almost double e-commerce spending by 2010, according to research from client strategy firm ClientKnowledge in London.
Icap to launch multi-asset class trading
LONDON – Icap is set to offer multi-asset class trading following the acquisition of EBS, with Jack Jeffery taking a central role at the restructured business.
Remaining NAB traders found guilty
MELBOURNE – The final two foreign currency options traders behind the rogue trading scandal discovered at National Australia Bank (NAB) in 2004 were found guilty last month.
Japanese banks set to expand overseas forex presence
TOKYO – Mitsubishi UFJ Financial Group became the first Japanese bank to buy a stake in a Chinese lender last week, as it looks to build its FX presence in the country.
Icap to launch multi-asset class trading
LONDON – Icap is set to offer multi-asset class trading following the acquisition of EBS, with Jack Jeffery taking a central role at the restructured business.
Cognotec to roll out e-trading platform
LONDON – Cognotec last week began the first-phase roll out of an e-trading solutions platform that will bring together all client segments and asset classes.
EBS boosts Hong Kong and Singapore dollar trading
HONG KONG – Spot broker EBS has added 10 currency panels per page to its EBS Spot screen in a bid to increase trading in Asian currencies.
Currenex applies for engine patent
NEW YORK – Currenex has applied for a patent for its aggregated liquidity matching engine, CX OneOrder.
Global sales head for HSBC
NEW YORK & LONDON – HSBC has made Rod Prat global head of sales, global markets, in New York, as it looks to implement a global strategy.
Reuters adds four banks to RTFX platform
LONDON – Deutsche Bank, Dexia, HSBC and Société Générale (SG) have joined Reuters' bank-to-client platform Reuters Trading for Foreign Exchange (RTFX).
Speculative positions for all currency pairs
Senior portfolio strategist Henrik Degrér at SEB in Stockholm develops a proxy to gauge speculative positions for all currency pairs
GFI to launch hybrid offering
NEW YORK – Broker GFI is set to introduce a hybrid voice and electronic options offering, and is making management changes to reflect the increased capability.
Cognotec to roll out e-trading platform
LONDON – Cognotec last week began the first-phase roll out of an e-trading solutions platform that will bring together all client segments and asset classes.
BarCap rolls out e-FX for Asia
SINGAPORE – Barclays Capital (BarCap) has launched electronic trading of vanilla FX options in Asia via its proprietary platform, Barx for FX Trading.
StanChart adds renminbi traders
SHANGHAI – Standard Chartered has boosted its FX trading desk in Shanghai with the appointment of Gordon Jiang as Chinese renminbi forward trader.
The ongoing rise of Asian currencies
EBS's move to take NDF trading online is the latest evidence that Asian currencies are becoming increasingly important, and it represents a step towards fully tradable currencies for the region.
Safe proposes forex management agency
SHANGHAI – The central bank of China's FX regulator plans to set up an agency in Shanghai in the summer to oversee the country's FX reserves portfolio, according to local press reports.
EBS set to take NDF trading online
LONDON – Non-deliverable forwards are set to be traded electronically with EBS. The platform is in discussion with banks about making them available on the platform.
Who's who on the exhibition floor?
FX Week gives a rundown of some of the top exhibitors at this year's event. Find out who's showcasing what, then see the box below for those all-important entertainment listings