Articles by FX Markets Staff
Is the UK consumer a spent force?
Jeremy Stretch, FX strategist at Rabobank in London, looks at the economic backdrop, interest rate expectations and prospects for growth in the UK in 2006
BoC taps EBS Spot, sets up FX desks
BEIJING – China's largest FX trading bank by volume, Bank of China (Beijing) is the latest bank to use EBS Spot, the e-FX spot broking platform.
Goldman forex chief retires
NEW YORK – Industry veteran Peter Gerhard has retired from his post at Goldman Sachs, after 23 years there.
COESfx enhances trade capabilities
PLAINVIEW, NY – COESfx, the trading platform and electronic currency network, has enhanced its offering, increasing control and ease-of-use for retail and institutional FX traders.
Lamont to head money transfer association
LONDON – The UK Chancellor who presided over 'Black Wednesday' in 1992 when Britain crashed out of the ERM is to head an association of money transfer businesses.
Bank of England revises forex guidelines
LONDON – The Bank of England last week introduced its updated code on good market practice in foreign exchange, changing its format and making amendments to its content.
Swedbank exits London
LONDON – Nordic-Baltic banking group FöreningsSparbanken (Swedbank) has officially closed its foreign exchange and fixed income activities in London as it pursues its strategy within the Nordic and Baltic region.
Citi poaches Coyne to build up FXPB
LONDON – Citigroup is building up its FX prime brokerage offering, and has gazumped Barclays Capital in hiring Andrew Coyne to lead the effort.
Wealth management: the new investment banking?
LONDON – Wealth management could become "the next investment banking", as more investment banks look for alternative sources of liquidity in an already over-saturated market, according to market participants.
From crystal balls to digital options
Sometimes one just wants to know – how much can I lose? Evan Steed , vice-president and director, FX options at TD Securities in Toronto, looks at three funding possibilities that can hopefully reduce this uncertainty
Misys ups FX capabilities
NEW YORK & LONDON – Vendor Misys Banking Systems (Misys) has upgraded its integrated treasury portal, Misys Treasury Plus, aimed at corporate treasurers.
Nybot launches euro index
NEW YORK – The New York Board of Trade (Nybot) will today launch trading in euro index options, as further evidence of the demand for exchange-traded currency products.
ABN names new Asia distribution head
SINGAPORE – ABN Amro has named Andrew Ford regional head of foreign exchange and local markets distribution for Asia-Pacific in Singapore, as the Dutch bank continues its push in the region.
BGC poaches Icap Scandi FWDs team
COPENHAGEN – BGC Partners has hired a four-strong Scandi forwards and derivatives team from interdealer broker Icap in Copenhagen, as it continues its aggressive hiring spree.
Guarantees limiting overall bonus levels
LONDON – The increasing number of guaranteed bonuses in 2005 to top-performers means staff without these packages are likely to see a drop in bonus levels, say market observers.
Keeping it real
BRASILIA – The Brazilian real (BRL) was one of the strongest currencies of 2005, and political din surrounding the October elections is expected to lead to further strength in the unit, say market observers.
Bloomberg goes live with FX options
NEW YORK – Bank of America (BoA) has become the first bank to trade FX options with customers over the Bloomberg terminal.
Globalisation, current accounts and the dollar
Many observers stubbornly think EUR/USD must rise to correct the US current account deficit, while others believe global imbalances are mainly about America's external deficit. Danske Bank's approach is slightly different, says Teis Knuthsen , head of…
RBC takes on Risque
NEW YORK – Royal Bank of Canada (RBC) is to implement Risque, a risk management tool from Sophis, a cross-asset front- to back-office solutions vendor.
Eurex confirms US partner search
CHICAGO – Swiss-German exchange Eurex has confirmed it is in dialogue with numerous rival US-based exchanges about forming a partnership to aid its ailing US business.
US Bank opens FX in California
LOS ANGELES – US Bank, a subsidiary of US Bancorp, has opened an FX office in downtown Los Angeles, California.