Articles by FX Markets Staff
Over-the-counter options drop down under, says Afma
SYDNEY – Trading in over-the-counter options fell by more than a third this year, according to figures released by the Australian Financial Markets Association (Afma).
New service from IF
LONDON – IFX markets is set to launch a money management service aimed at third-party clients in the new year.
Korea to relax currency restrictions
SEOUL – South Korea is to relax regulations on forex trading next year, but authorities have vowed to keep a close eye on how the market develops, according to officials.
Citigroup launches flow-weighted currency indexes
LONDON & NEW YORK – Citigroup has launched 10 indexes that measure currencies' value using customer flow data.
India looks to tourism
LONDON – India is looking to make tourism the number one source of foreign exchange in the next three years, by doubling its forex earnings, according to tourism minister, Renuka Chowdhury.
Swiss e-swaps from ABN Amro
LONDON AND ZURICH – Dutch bank ABN Amro last week launched electronic trading in Swiss franc-denominated interest rate swaps (IRS), moving it across from the previous voice-only service.
Orchard leaves CSFB
NEW YORK – Nick Orchard, director in treasury operations at Credit Suisse First Boston (CSFB) in New York, has left the bank. Orchard, who left on November 30, spent 10 years at the bank, serving in Moscow, Zurich and New York.
Man to build on Refco's ashes
NEW YORK – UK financial services firm Man Financial is to reincarnate part of the old Refco business with the launch of Man FX Clear by the middle of this month.
Forex revenues set 'to slow in 2006'
LONDON – Growth in forex revenues is set to fall off next year, according to research from Morgan Stanley released last week.
A change in balance
The market has bought the interest rate argument – and the dollar – in 2005. With the end of HIA related repatriation, the balance will change in the new year, writes Chris Furness, senior market strategist at 4Cast in London
CLS to cut prices for largest users
LONDON – CLS is set to introduce a new pricing structure next year to reward banks for settling more transactions through the system.
Casting a wider net
Olaf Ransome, head of product development & support transaction services & solutions, Credit Suisse in Zurich, advocates that CLS should diversify into emerging currencies sooner rather than later
EDITOR'S LETTER: Korea change highlights Asian growth
Welcome to the new look FX Week . The redesigned newsletter will keep the best of FX Week while introducing a fresher look and offering more opinion.
New structure for RBS FXCM fined by NFA
NEW YORK – Futures commission merchant FXCM has been fined by the National Futures Association (NFA) for distributing misleading promotional material.
New structure for RBS
LONDON – The Royal Bank of Scotland is set to reorganise its corporate banking & financial markets division (CBFM), with a new structure to be in place from next year.
Hedging profits effectively
Daniela Asikian, Senior Structurer At Hsbc In London, Shows How Companies Can Hedge Exposure From Overseas Profits Taking Advantage Of Current Forwards Rates
ABN loses head of spot
LONDON AND AMSTERDAM – Turnover at ABN Amro has continued apace, with a senior departure and two promotions and at the Dutch bank.
Slovakia hits the euro road
Slovakia looks set to be the next country to join the euro, but political uncertainty caused by forthcoming elections means there are still likely to be opportunities for those seeking to trade the koruna
Saxo gets London go-ahead
COPENHAGEN AND LONDON – Danish forex specialist Saxo Bank has received approval from the FSA in London to open its new headquarters in the city ( FX Week , September 26).
Going global
In the first of a series, FX Week looks at the big hitters in the industry. First is HSBC, which knocked Citi off the number three spot in last month's Best Banks Awards
Gain launches new research offering
BEDMINSTER, NEW JERSEY – Gain Capital, provider of FX trading and asset management services, has launched a new research offering and enhanced its proprietary FX trading platform, ForexTrader.
HKMA's Yip moves on
HONG KONG - The Hong Kong Monetary Authority saw a changing of the guard on its reserves management team as Amy Yip, executive director, handed over the reigns to Francis Chu.
SEB offers hedge fund platform
STOCKHOLM - Skandinaviska Enskilda Banken Merchant Banking (SEB) has launched FX Map, a managed account platform allowing investors to access a range of pre-screened FX hedge funds through a single point of entry.