Articles by FX Markets Staff
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.
Top banks take DealHub analyser
NEW YORK - Two Tier I banks have adopted Option Computers' DealHub Conversation Analyser module for foreign exchange options, to extract FX options and spot hedge ticket details from Reuters Dealing 3000 conversations.
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).
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.
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.
Icap adds new functionalities to EBS Spot
LONDON & SINGAPORE - Interdealer broker Icap is rolling out new features on its foreign exchange electronic trading platform, EBS Spot, this Saturday (November 22), officials told FX Week .
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…
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.
RBS to cut 3,000 jobs
LONDON & EDINBURGH - The Royal Bank of Scotland (RBS) is set to cut 3,000 jobs from its global banking and markets division (GBM), with a third of them expected to fall in the UK.
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.
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.
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.
Parker FX bounces back
STAMFORD, CT - The Parker FX Index regained lost ground by clocking a 0.24% return during September, as investors' avoidance of emerging market currencies and US banks' hoarding of liquidity caused a continued US dollar appreciation.
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.
PwC Audit signs up to SuperD
LONDON - PricewaterhouseCoopers (PwC) Audit has selected SuperDerivatives as its derivatives revaluation service provider.
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