Articles by FX Markets Staff
RTFX signs BarCap and Deutsche Bank
HONG KONG – Reuters has signed up Barclays Capital and Deutsche Bank as liquidity providers on its Reuters Trading for Foreign Exchange (RTFX) platform, it announced at the Asian launch of the service last week.
EBS signs second largest Chinese bank
BEIJING – EBS has made further inroads into the Chinese market by signing on China Construction Bank (CCB), the second largest state-owned bank in the country.
Asian authorities relax FX controls
SHANGHAI & HANOI – Government authorities in China and Vietnam have taken further steps towards liberalising the capital account, with a series of relaxations introduced in recent weeks.
Vietnam opens its doors to Travelex
HANOI – Forex specialist Travelex has signed a deal with a Vietnamese bank to enable overseas nationals to remit money to relatives at home.
Mexican Peso: Activity in Mexican peso set to soar
MEXICO CITY – There is likely to be a surge in Mexican peso trading in the build-up to next year’s election, according to market participants.
First yuan IR swap for China
BEIJING – China took another step towards currency flexibility this month, with the first ever yuan-denominated interest rate swap receiving approval.
Refco’s demise offers risk and reward for competitors
NEW YORK – Refco’s woes are having wider implications for the forex market, with the suspension of the platform sending shockwaves through the industry.
Shell takes over Deutsche Bank prime brokerage
NEW YORK – Deutsche bank has replaced Andrew Coyne, head of prime brokerage, with North American currency sales and trading head Jason Shell.
Students tested on GFT FX platform
ADA, MICHIGAN – Some 160 undergraduate finance students are putting their financial knowledge to the test by using Global Forex Trading’s (GFT) DealBook FX 2 as their web-trading platform.
Fraudulent FX sites uncovered
WASHINGTON, DC – The US Commodity Futures Trading Commission (CFTC) has filed yet another action against a party participating in fraudulent forex activity.
Travelex adds more in Asia
SINGAPORE – Travelex, the global FX specialist, has continued its global expansion, opening an enlarged trading floor in the Lion City, where it has doubled the number of traders.
Measuring US dollar and prospects
Thomas Lam Tai Loong, treasury economist at United Overseas Bank (UOB) in Singapore, outlines a way of predicting dollar movement through measuring growth in the US economy
CoesFX cuts out middle man
PLAINVIEW, NEW YORK – Electronic currency network (ECN) COESfx has removed its trading desk to give users direct access to prices on the platform.
Barx adds cross-currency swaps
LONDON – Barclays Capital (BarCap) has added cross-currency basis swaps to its Barx via Bloomberg service, it has announced.
Strong Q2 for US FX
BOSTON & NEW YORK – Indications that the forex industry continues to boom emerged last week as two US banks posted strong FX results for Q3.
Hotspot FXi signs major asset manager
TACOMA, WASHINGTON – Asset manager Russell Investment Group is to use FX market-place Hotspot FXi to reduce trading costs, offer clients trading anonymity and provide access to additional liquidity.
Reuters opens post-trade service
LONDON – Reuters this week moves into the post-trade market with the launch of Reuters Trade Notification System (RTNS).
CLS to corner foreign exchange market
LONDON AND NEW YORK – More than 80% of member trades will be settled by CLS in two years, according to research released this week.
Fimat signs four traders from Cargill
NEW YORK AND LONDON – Fimat, the brokerage arm of SG CIB, has boosted its global foreign exchange trading team with four new hires from Cargill across both sides of the Atlantic, it has confirmed.
India’s white collar revolution
Sanjeev Sanyal, senior economist at Deutsche Bank in Singapore, points to the educated middle class as being the driver of the economy’s dramatic transformation over the last decade