Articles by FX Markets Staff
Heading for the final USD selling opportunity
Hans-Guenther Redeker, global head of FX strategy at BNP Paribas in London, suggests a way to take advantage of the prospect of near-term dollar strength to protect against the likelihood of longer-term USD weakness.
The technology to succeed
In-house technology will drive volumes and profit, says Charles Marston, chief executive officer at Calypso in San Francisco
Fimat to become CLS member
LONDON – Brokerage firm Fimat will be going live on the continuous-linked settlement (CLS) service by the end of September, a senior official told FX Week .
Global FX sales reorg at Deutsche
LONDON & NEW YORK – Deutsche Bank has made changes to senior management in its global FX sales team following the retirement of global head of FX sales Dan Almeida last month.
BNP appoints head of e-commerce
NEW YORK & LONDON – BNP Paribas has boosted its global forex team by making two hires in New York and London.
Hong Leong Bank deploys BT voice-trading technology
Hong Leong Bank has implemented BT's ITS.Netrix voice-trading technology at its Kuala Lumpur dealing room.
Deutsche boosts prime brokerage
LONDON – Deutsche Bank has extended its prime brokerage offering with the introduction of options, non-deliverable forwards (NDFs) and increased processing capabilities.
BNP and RBS boost bank sales
GLOBAL – BNP Paribas and Royal Bank of Scotland (RBS) have boosted their presence in the financial institutional forex space by opening a new desk and hiring new staff, respectively.
Equity culture postpones dollar rally
Stephen Jen, head of currency research at Morgan Stanley in London, explains why he continues to expect strength in the greenback
Berkshire Hathaway hit by strong dollar
OMAHA – Berkshire Hathaway, the investment and insurance company run by billionaire investor Warren Buffet, has suffered $926 million in mark-to-market losses from its foreign currency contracts, amid a strong US dollar in the first half of the year.
PBoC liberalises derivatives market
BEIJING – The People's Bank of China (PBoC) has issued new regulations allowing banks to trade renminbi forwards and cross-currency swaps in the interbank FX market. Meanwhile, non-bank companies such as insurance firms and asset managers can also apply…
Broker consolidation in the spotlight
LONDON – Consolidation of the broking industry is looming large again, with the unexpected announcement by Collins Stewart Tullett (CST) last week that it had received a number of bids for the company.
BoA build-up complete
LONDON – Bank of America (BoA) has completed its planned build up this year with a hat trick of senior hires on its emerging markets trading desk.
Keeping current at Currenex
In the second in a series of interbank profiles, FX Week looks at the prospects of Currenex
BoA's Nutland defects to Calyon
LONDON – Steve Nutland, head of trading at Bank of America (BoA) in London, has left after almost six years, the bank has confirmed.
Aussie/Kiwi influx keeps lid on spiralling London salaries
LONDON – The steady flow of Aussie and Kiwi staff into London's FX arena has helped keep a lid on spiralling wages, according to market participants.
The relative merits of zero-premium structures
Zero-premium structures can do a better job as a hedge than a vanilla instrument, when the full cost of insurance is paid. By Kenrick Ramlochan, director, FX analytics and risk advisory at ABN Amro in London
China announces reference basket
BEIJING – The People's Bank of China (PBoC) has announced the four currencies that will act as a basket against which the renminbi (RMB) will be pegged.
Voting underway for Best Banks Awards
LONDON – Voting for the FX Week Best Banks Awards 2005 got underway last week, with more than 300 votes already having been cast.
ACM expands in Middle East
DUBAI – ACM-Refco, the online currency and metal trading firm, has opened a representative sales office in Dubai, United Arab Emirates.
UK banks storm ahead in forex
LONDON – UK banks are storming ahead in FX, with a strong set of results reported for the first half of the year.
ABN Amro names new distribution head
AMSTERDAM – ABN Amro has made Scott Wacker global head of FX distribution, following a realignment aimed at increasing coverage of futures clients.