Articles by FX Markets Staff
FX Connect hikes prices pre-upgrade
BOSTON – Multi-bank portal FX Connect has put up charges by 25–40% across the board, and is to implement a wide-scale upgrade of its system.
RBS hits the heights on Cfets
SHANGHAI AND EDINBURGH – Royal Bank of Scotland (RBS) has done the most deals and seen the highest volume on Chinese trading system China foreign currency trading system (Cfets) since its launch.
Hedging North Asia FX risk
Michael Image, FX structurer in Hong Kong, and Callum Henderson, head of FX strategy in Singapore, at Standard Chartered Bank, look at appropriate hedging strategies such as structured forwards or daily accrual forwards for hedging North Asian currency…
GFT opens Aussie office
SYDNEY – Global Forex Trading (GFT), the provider of real-time currency dealing, pricing and services for retail and institutional forex traders, has begun operating a field office in Sydney, Australia.
Icap offers streaming FX prices
LONDON – Icap is set to offer streaming prices to customers on its forwards platform, as the broker seeks to expand its presence in the electronic broking space, and offer competition to Reuters.
Gain growth boosts staff hires
NEW YORK – Online FX dealer Gain Capital has made two appointments to meet growing demand for its services.
DrKW continues to rebuild in FX
PARIS – Dresdner Kleinwort Wasserstein (DrKW) is continuing to rebuild its foreign exchange capabilities with hires in Paris and London, following the major cuts seen at the German bank in December.
CSFB gets green light for Korean OTC derivatives
SEOUL – Credit Suisse First Boston received approval to engage in over-the-counter derivatives business in South Korea last week.
BoA keeps building
NEW YORK – Bank of America (BoA) is continuing the expansion of its FX capabilities with further growth in its sales team. Mark Rossi and Rodulphe Alexis started at the bank last week, reporting to Patrick Baune, head of sales at the bank. The pair join…
RBC departures in sales and trading
LONDON & NEW YORK – Royal Bank of Canada (RBC) is to scale down its forex operations in New York, and is understood to be closing its prop desk in London with the departure of veteran trader Keith Dack.
OCC reports decline in forex derivatives trading
WASHINGTON, DC – Foreign exchange has bucked the trend for derivatives trading with a fall in value for the first quarter of the year, according to the US Office of the Comptroller of the Currency (OCC).
CoesFx adds 10 new pairs
PLAINVIEW, NY – Electronic currency network, CoesFx, has added 10 new currency pairs, almost doubling the number of currencies available to its retail and institutional clients.
Travelex unveils US expansion plans
NEW YORK – Foreign exchange specialist Travelex is targeting significant growth in the US market with the appointment of Robert Wittmann as head of commercial FX.
CFTC cracks down on scams
WASHINGTON, DC – US authorities have uncovered a forex scam worth more than $17 million involving nearly 1,000 customers.
Central Europe and Turkey: no cause for concern
The EU’s referendum/budget does not, as some have suggested, spell doom for central European currencies and the Turkish lira, says Meg Browne, head of FX research at Brown Brothers Harriman
US banks suffering from short notice periods
NEW YORK – US banks are altering their notice periods, as they are increasingly being seen as soft touches for other banks looking to hire staff.
Predicting the unexpected
Extreme value theory is an effective way of predicting the large moves frequently seen in currency markets, says Collin Crownover, global head, investor risk advisory group at Citigroup in New York
Don't bank on a UK rate cut
A UK rate cut is far from a done deal, says Lee Ferridge, a proprietary trader at Rabobank International in London
Italy most likely to pull out of euro
GLOBAL – Of the 12 member nations currently making up the euro, Italy is most likely to dump the currency, according to a survey conducted by FX Week .