Articles by FX Markets Staff
SD updates commodities offering
NEW YORK - SuperDerivatives has updated its SD-CM commodity option pricing platform.
BoA to reclassify
NEW YORK - Bank of America (BoA) has had to recalculate its financial statements since 2002, after it emerged that it had wrongly classified FX and interest rate derivatives earnings.
Market snubs Reuters' full-year growth
LONDON - Reuters announced more positive news in its 2005 preliminary results last Thursday, February 23, which marked the first full year of revenue growth since 2001.
Russian activity on the up
MOSCOW - Russia's stable economy, booming markets, soaring demand for financial services and growing number of high net-worth individuals, means banks are now investing in more FX staff in the country, say market participants.
BIS group to work on settlement delays
BASEL – A Bank for International Settlements (BIS) working group will look at settlement problems in the over-the-counter derivatives market, in an effort to deal with delays in trade processing.
Algorithmic trading in FX – watch this space
With algorithms now being tailored to provide best execution, Stuart Crooks, European head of FX sales at FlexTrade Systems, says now is a good time to start looking into these products
Signs of the times, symbols of success
Emerging markets currencies are gradually coming to the fore.
Mixed results for European banks
PARIS & ZURICH – There were mixed results for the European banks who reported their 2005 results last week, with Société Générale (SG) reaping the rewards of a strong year, while UBS saw a slight fall.
UOB selects WSS for Thai branch
NEW YORK & BANGKOK – Singapore-based United Overseas Bank (UOB) has selected vendor Wall Street Systems' (WSS) full FX front- to back-office processing for its newly formed Thai branch UOB (Thai).
Lloyds TSB goes live on 360T portal
LONDON & FRANKFURT – UK bank Lloyds TSB Financial Markets has gone live as a liquidity provider to German multibank portal 360T ( FX Week , January 30).
Saxo makes retail move
COPENHAGEN – Saxo Bank is making significant changes to its structure, as it seeks to boost its retail business with senior hires from the Danish business world.
Loonie flight to quality remains on course
The current outlook for real interest rates and the growth picture remains favourable for the Canadian dollar, writes Ashraf Laidi , chief currency analyst at MG Financial in New York
Marex Financial takes FXall
LONDON – Independent brokerage firm, Marex Financial has started offering foreign exchange liquidity and trading services from FXall to clients in Europe, the Middle East and the US.
Rouble gets its own symbol
MOSCOW – The Russian congress is to establish a symbol for the rouble sign in a bid to boost the reputation of the unit.
Bloomberg to create e-trading company
NEW YORK – Bloomberg is partnering with several major banks to launch an electronic swaps trading company, according to the data vendor.
Senior management changes at Reuters
LONDON – Reuters is making two key changes to its senior management line-up as it seeks to boost its e-trading capabilities.
CLS breaks one-day trading record
LONDON – CLS Bank set a new record for the number of payment instructions settled in one day breaking the half million barrier for the first time. It settled 502,384 instructions on with a gross value of $3.9 trillion on January 17.
Refco saga continues
NEW YORK – The Refco saga continued last week, with creditors vetoing a deal that would have seen the remains of the unregulated business sold to Forex Capital Management.
A flexible approach to hedging
UBS's FX structuring team offers two case studies highlighting the benfits of flexible hedging solutions in the form of flexi notional forwards and structured flexi forwards
Senior management changes at Reuters
LONDON – Reuters is making two key changes to its senior management line-up as it seeks to boost its e-trading capabilities.
JP Morgan FX salesman arrested
NEW YORK – A JP Morgan FX salesman was arrested last week, making the US bank the latest to be embroiled in a trading scandal.
StanChart makes key hires in derivatives
LONDON – Standard Chartered is building up its FX options capabilities with key hires in London.