Articles by FX Markets Staff
Saxo Bank founders cash in
COPENHAGEN – Founders of Saxo Bank Lars Seier Christensen and Kim Fournais stand to pocket more than $30 million each following the sale of 25% of the business to a private equity firm.
Clampdown on speculators in Asia
JAKARTA – Asian authorities have clamped down on speculative trading, with a string of new FX controls across the region.
Deutsche boosts London sales desk
LONDON – Deutsche Bank has boosted its London FX sales desk with two major hires in recent weeks.
JPMC swoops on UBS pair
LONDON – JP Morgan Chase in London has made two major hires from UBS, as it starts to rebuild its forex team in the wake of recent departures.
DrKW adds in local and EM markets
NEW YORK – Dresdner Kleinwort Wasserstein (DrKW) has boosted its FX team with two hires from Lehman Brothers in the FX local and emerging markets desks.
Euro fall to continue, say analysts
LONDON, COPENHAGEN AND NEW YORK – The euro is set to stay weak against the dollar, according to FX strategists.
‘One size fits all’ is not appropriate
Sabrina Jacobs, FX strategist, capital markets, at Dresdner Kleinwort Wasserstein, says Asian currencies need to be looked at on an individual basis
CLS touts for more fund business
SAN FRANCISCO – CLS Bank is to focus on driving up business from the investor community this year, as it seeks to expand globally.
Dollar recovery under strain
After recent strength the greenback looks vulnerable, according to London-based Lena Komileva, G7 Market Economist at Tullett Prebon
EM options taking the lead
LONDON – Emerging market currencies is the biggest market for options traders, according to a survey by sister publication Risk magazine, with these units representing more than a third of the total traded.
Iceland trade heated up by rate rise
REYKJAVIK – Trading on the Icelandic krona (ISK) soared last week following a higher than anticipated rate hike by the Central Bank of Iceland (CBI), effective from June 7.
One in, one out at RBC
LONDON AND TORONTO – Royal Bank of Canada (RBC) has made one new hire and seen one departure on either side of the Atlantic in the past two weeks.
CMC Markets adds new products and offices
LONDON/TORONTO – Online FX platform CMC Markets is set to expand with the launch of new currency baskets and additional offices globally.
More EM currencies for RBS FiX
LONDON – Royal Bank of Scotland (RBS) has made a further upgrade to its online FX service, RBS FiX, with the addition of forward benchmark prices for 12 emerging markets currencies.
Patsystems supports CME on Reuters
LONDON – Software vendor Patsystems has signed a deal to provide technology supporting Chicago Mercantile Exchange (CME) FX on Reuters, as it looks to extend into new areas and develop beyond traditional markets.
Euro returns to fair value
Stephen Jen, global head of currency research at Morgan Stanley in London, argues that the fall in the euro is more a reflection of the fact that the single unit was overvalued than a reaction to the ‘no’ votes in France and Holland.
EBS opens in Korea
SEOUL – EBS , provider of electronic trading and market data solutions, has opened in Korea as an offshore broker for non-South Korean won pairs.
RBS builds e-commerce presence
NEW YORK & HONG KONG – Royal Bank of Scotland (RBS) is looking to expand its e-commerce presence around the globe with hires of sales staff in different continents.
Deutsche loses staff across desks
LONDON – Deutsche Bank in London has haemorrhaged five foreign exchange staff from structuring, sales and trading in recent weeks. Jeremy Smart, director of FX structuring, who reported to Rhomiaos Ram, global head of complex risk, has been linked with a…
UFJ BTM merger: cuts likely
TOKYO – The merger of the Bank of Tokyo-Mitsubishi (BTM) and UFJ is likely to lead to large cuts to the UFJ forex team, according to market sources.
‘No’ votes lead to record flows
LONDON – The ‘no’ votes on the EU constitutionreferendums last week led to unexpectedvolatility in the currency markets, and the highestvolumes ever seen on some platforms.
‘FX markets are unreadable’
Foreign exchange markets are notoriously difficult to predict, so corporates shouldn’t bother, argues Simon Miles (right), currency strategist at Corporate FX. Instead they should focus on deciding how to hedge the risk so they can determine its real…