Articles by FX Markets Staff
Using a long straddle for EUR-USD participation
Armin Mekelburg, currency strategist at HVB in Munich recommends a way to take advantage of the strong swings in the eurodollar
Rouble set to surge as restrictions relaxed
MOSCOW – Russia is likely to see a surge in rouble trading as restrictions are relaxed, according to market players.
CLS faces rival HKMA challenge
HONG KONG – CLS is facing a challenge from the Hong Kong Monetary Authority (HKMA), which is building its own payment settlement system to take on board an emerging markets currency.
Asian central banks increase reserve management sophistication
HONG KONG – Asian central banks who have typically been long dollar are evolving with their reserve management, according to Claudio Piron, currency strategist at JP Morgan.
Hong Kong to up ante on CNY services
HONG KONG – Chief executive of Hong Kong, Donald Tsang, said the city will take steps to increase the depth of yuan banking services available.
Panelists advise Bush on China
HONG KONG – Panelists were put in the shoes of Jon Snow, US Treasury secretary, in the lively session chaired by Ray McKenzie, head of FX at the Chicago Mercantile Exchange.
China to adapt in its own time
HONG KONG – China will adapt its currency regime as it sees fit. This was the central message of the keynote speech given by Frank FX Gong, chief economist for China at JP Morgan.
Barclays Capital gains and loses
LONDON – Barclays Capital has lost staff in London but gained in Asia.
Cameron Fix for market data
LONDON & NEW YORK – Cameron Systems has developed the Cameron Fix Market Data Server to carry market data on FX, equities and fixed income, among others, to clients over the Fix messaging protocol.
Egypt on a roll
Mehmet Simsek, emerging market economist at Merrill Lynch in London, reviews the factors behind further real medium-term strengthening and future appreciation of the Egyptian pound
JP Morgan signs Rabo
LONDON AND NEW YORK – Rabobank has selected JP Morgan as its global clearing services provider for US dollar cash and securities transactions, as it looks to expand its US dollar business.
Reserve Bank of India calls for more disclosure
MUMBAI – Governor of the Reserve Bank of India, Yaga Venugopal Reddy, wants to see more corporates disclose their FX and derivatives disclosure.
FX volumes ‘up one fifth’ in past year
LONDON – A surge in active currency management has driven up FX volumes by 20% in the past year, according to London-based research firm ClientKnowledge.
TradeFX lands sell-side backers
NEW YORK – TradingScreen is launching a hosted FX transaction connectivity service, which has already got the support of several sell-side firms, according to the vendor.
What e-commerce needs
HONG KONG – Best price, service, solution and the ability to price in tough market conditions are the list of requisites clients should look for from an e-commerce platform.
Barclays goes live with Barx.com
LONDON – Barclays Capital has gone live with Barx.com to complement its Barx e-commerce platform.
StanChart poaches HSBC trio
HONG KONG – Standard Chartered has hired three FX sales staff from HSBC in the Special Administrative Region.
Singapore sees record FX volumes
SINGAPORE – Forex trading activity in Singapore reached the highest levels in seven years in 2004, according to latest statistics from the Monetary Authority of Singapore.
ABN Amro touts for professional trader business
SINGAPORE – ABN Amro has opened a professional traders centre (PTC) in Singapore to offer proprietary and institutional traders access to the global exchange-traded derivatives markets.
China joins forex community
BEIJING – Large-scale FX trading is coming to the Chinese market, with EBS linking to three major state-owned banks in the country.
Gold gains shine for FX desks
LONDON – Increased buy-side buying of gold, as an alternative to currency reserves, is likely to prompt more banks to move their precious metals business under the FX remit, say market participants.
HIA to support the dollar
NEW YORK – An expected surge in the repatriation of funds under the Homeland Investment Act (HIA) in the next few months will provide support for the dollar through to year-end, according to analysts.