Articles by FX Markets Staff
Using probability for barrier placement
Mark Miklavs, director, structured derivatives at HBOS treasury services in London, develops an option hedging strategy to take advantage of the recent pick-up in volatilities by using normal distribution to provide a theoretical perspective on barrier…
Finevo Markets takes FNX
NEW YORK – Manhattan-based broker-dealer Finevo Markets Group is employing FNX's ASP solution as its core platform for straight-through processing and processing of foreign exchange transactions.
Investec closes London corp desk
LONDON – Investec, the international specialist banking group, has closed its corporate FX desk in London.
CLS moves complete
LONDON – CLS Group is today naming Peter Slater as its new deputy chief executive officer of CLS Group and chief executive officer of CLS Services, following board approval.
Merrill raids JP Morgan, again
LONDON – Three southern European FX sales staff have made their way to Merrill Lynch's EMEA strategic solutions group, following the US investment bank's raid on JP Morgan Chase.
Deutsche Bank takes HSBC team for ICM Plus in Japan
TOKYO – Deutsche Bank has poached a four-strong FX sales team from HSBC in Tokyo as it builds up its client coverage in the country.
Eurex optimistic over forex venture
CHICAGO – Eurex's entry into FX will be facilitated by "the lack of domination in this space", according to Satish Nandapurkar, Chicago-based chief executive officer of Eurex US. He was speaking to FX Week following the exchange's recent move into FX…
New fund from ABN Amro
LONDON – ABN Amro has begun marketing a new currency fund made up of 10 underlying managed accounts, providing a diversified portfolio of currency management styles.
Strong start for Chinese interbank trading platform
SHANGHAI – Volumes traded on China's interbank FX trading system (Cfets) have grown steadily since its launch in mid-May, say dealers.
First Eonia swap index fixed
PARIS - The first fixing of the Eonia (euro overnight index average) swap index, took place on June 20 at 4.30pm CET.
Poor Q2 for US investment banks
NEW YORK – Directionless markets in the second quarter of the fiscal year proved to offer few opportunities, with US investment banks posting meek second quarter results over the same period the previous year.
MetaQuotes releases MetaTrader 4 for FX
KAZAN – MetaQuotes Software will be releasing a new version of its forex trading system, MetaTrader 4, on July 1.
Eurex joins FX futures fray
CHICAGO AND FRANKFURT – Eurex, the Frankfurt-based derivatives exchange, has entered the FX market with a September date set for the launch of its futures platform.
Multi-hurdle barrier options
Remy Marino, head of structuring, interest rates, currencies and commodities at Calyon in New York, discusses how investors or hedgers can optimise the cost of their barrier strategies by utilising a multi-hurdle barrier option
CLS bags world’s largest pension fund
AMSTERDAM – The world’s largest pension fund – the e170 billion Stichting Pensioenfonds ABP – has gone live on CLS as a third party of ABN Amro.
Trio of departures from Citigroup
NEW YORK – Citigroup has lost another two FX staff in New York and one in London, following earlier departures and the closure of desks in continental Europe.
WestLB using Cognotec to link to 360T
NEW YORK – Cognotec, the Dublin-based technology vendor, has selected WestLB, a partner bank, to deliver live automated market-making to multi-asset trading platform 360T.
TD London reorg complete
LONDON – Toronto Dominion has completed the reorganisation of its senior management team following the transfer of Moti Jungreis, new global head of wholesale forex, to Toronto ( FX Week , April 25).
RBS Greenwich Capital shifts FX team
GREENWICH, CONNECTICUT – RBS Greenwich Capital is moving its FX operations from New York to its existing Greenwich headquarters this week.
NAB currency trader jailed
MELBOURNE – Luke Duffy, former head of the National Australia Bank’s (NAB) foreign currency options desk, has been sentenced to 29 months’ imprisonment for his part in the bank’s rogue trading scandal unearthed last year.
Eurozone undermined by political concerns
Hans Redeker, global head of FX strategy at BNP Paribas in London, points to a return to awareness of political risk in the EU
SG CIB builds up proprietary forex trading desk in Asia
SINGAPORE & HONG KONG – SG Corporate & Investment Banking (SG CIB) has built up its proprietary trading desk in the Asia-Pacific region, with hires in Singapore and Hong Kong.