Articles by FX Markets Staff
HSBC reports strong EM FX results
LONDON & MONTREAL - HSBC's global banking and markets division has achieved a rise in third-quarter revenues, fuelled by growth in emerging markets foreign exchange.
Chicago's wind of change
Felix Shipkevich, general counsel at CMS Forex in New York, highlights the difficulties of applying similar regulations to retail foreign exchange and the exchange-based commodities and futures markets
Credit Suisse advances in Asia forex
HONG KONG & SYDNEY - Credit Suisse released its advanced execution service (AES) for foreign exchange in Asia last month, following the system's US and European rollout earlier this year.
Mizuho hires ex-Lehman e-trading team
TOKYO - Mizuho Financial Group, the Japanese bank, has hired 16 former Lehman Brothers staff to help kick-start its electronic trading business.
Changes afoot for FX prime brokers
Discussions with dealers in recent weeks have identified significant changes for the industry in the coming year, in terms of pricing and infrastructure.
Citic Group in currency bail-out
HONG KONG - Citic Pacific has reached an agreement with parent company Citic Group to provide financial support to meet liabilities from exposure to leveraged FX contracts disclosed on October 20.
Gu appointment casts shadow over BoA FX
LONDON & NEW YORK - David Gu has been slated to head rates and currencies following the merger of Merrill Lynch and Bank of America (BoA), throwing into doubt the future of the BoA foreign exchange team, say market sources.
Thomson Reuters sees bright 2009
NEW YORK - Thomson Reuters has reported an increase in third-quarter revenues and profits for its markets division and told investors that management expects the vendor to prove more resilient than some analysts had predicted in the wake of the ongoing…
Thomson Reuters shows eye for detail
Thomson Reuters has retained first place as best vendor in the dealing technology category thanks to a focus on detail, according to Paul Allmark, global head of Reuters Electronic Trading (RET).
OTC derivatives on the up
BASEL - The Bank for International Settlements' (BIS) semi-annual report has shown a significant increase in the growth of over-the-counter foreign exchange derivatives in the first half of this year.
Business leaders want tighter rein on finance firms
LONDON - Tighter regulations on banks, hedge funds and rating agencies would be supported by most business leaders around the world, a survey found this week.
Goldman sacks top FX performers in London
LONDON - Goldman Sachs' attempts to cut costs have led to some of the bank's top foreign exchange performers losing their jobs, according to a market source.
UBS posts record Q3 FX revenues
ZURICH - UBS reported record foreign exchange and money markets revenues in the third quarter of this year, reaching $1.3 billion.
Out of the frying pan, into the fire...
Analysts at Barclays Capital in London say recent dramatic rate cuts might mean the worst of the financial crisis is behind us, but concern about economic growth is increasing
Thomson adds Icap tick data
JERSEY CITY & LONDON - Interdealer broker Icap is making historical tick data for foreign exchange, fixed-income and interest rate products available through Thomson Reuters, in a bid to broaden its client base among algorithmic trading, valuation and…
UBS upgrades FXPB tools
ZURICH - UBS has updated its foreign exchange prime brokerage system with an automated trade checker, in a bid to tackle duplication of trade messages.
Lehman's Burgess now at ING
LONDON - Ian Burgess, formerly of Lehman Brothers, has joined ING's institutional sales division in London.
Nedbank Capital taps Aleri for liquidity data analysis
JOHANNESBURG - South African investment bank Nedbank Capital plans to implement a liquidity management system (LMS) offered by Chicago-based complex event processing software vendor Aleri next year, to consolidate data on cashflows and liquidity…
WestLB drops RealStream
DÜSSELDORF - WestLB is no longer using Cognotec's RealStream Manager and has signed up to Eurobase's Siena Gateway, in a move to streamline its electronic foreign exchange infrastructure.
Merrill Lynch FX trio reunited at CIBC
TORONTO & LONDON - Christian Exshaw, formerly global head of foreign exchange sales, Europe, the Middle East and Africa, at Merrill Lynch in London, has resurfaced at CIBC World Markets.
Clients switch on to Portware FX
NEW YORK - Portware has seen a 70% increase in clients using Portware FX, its real-time foreign exchange aggregation system, since the start of 2008, according to Harrell Smith, head of product strategy for the firm in New York.
UniCredit set to launch new FX trading platform
MILAN & LONDON - UniCredit is deploying Caplin Trader and Reuters Electronic Trading - Automated Dealing (RET-AD) as the basis for its single-bank foreign exchange trading platform.