Articles by FX Markets Staff
IDEAglobal showcases Kobra
NEW YORK –Research firm IDEAglobal will be showcasing a new Kobra template for its real-time FX research services on Reuters at the congress.
Refco moves staff from Vienna to London
LONDON – Refco Group, the US brokerage firm, has relocated another three FX traders to London from its Vienna office.
RCP to show off STP prowess
LONDON – RCP Consultants will be demonstrating its straight-through processing via its flagship product, Deal Web, launched at the ACI in London last year. This service allows all FX conversations and tickets to be available electronically within a bank…
Top stories from 15 years of FX Week AIB losses a 'one-off'
LONDON – The foreign exchange industry is unanimous in its verdict that the disastrous $750 million FX loss announced by AIB last Wednesday was a one-off event.
FX to the fore at settlements conference
SAN FRANCISCO – Settlements industry body ISITC -IOA is to focus on FX for its summer 2005 conference to be held in San Francisco.
UK least likely to adopt euro
GLOBAL – Of the European Union members yet to join the euro, the UK is the least likely to join the single currency, according to a survey of FX Week readers.
Sybase moves into forex
DUBLIN, CALIFORNIA – Software vendor Sybase is to open its risk analytics platform to FX data. The vendor will now process risk and trade data for high-volume FX data feeds.
RBS increases sales force
LONDON AND MADRID – Royal Bank of Scotland (RBS) has made two new appointments in London and Madrid as it continues to build up its European sales presence.
BNP completes FX changes
PARIS – BNP Paribas has restructured its FX desk, following on from the wider changes made during the fixed-income reorganisation earlier this year ( FX Week , January 24).
Marketmaker launches in HK
HONG KONG – Online forex service provider CMC Group has moved into Hong Kong with the roll-out of its internet-based Marketmaker platform.
Chinese whispers cause confusion
BEIJING – Currency markets were thrown into disarray last Wednesday following an inaccurate news report by a Communist-party-backed news agency claiming China would allow the yuan to appreciate.
eSpeed’s FX platform gets a makeover
NEW YORK – Electronic broker eSpeed is rolling out an improved forex trading platform to all its users over the next two months.
Technology forcing change in forex staff skills set
LONDON – The rapid pace of technological change is leading to a ‘paradigm shift’ in how foreign exchange staff are employed, according to Ray McKenzie, director of forex products at the Chicago Mercantile Exchange (CME).
Prime brokerage threatening banks
LONDON – Banks are charging far too little for prime brokerage to be profitable, according to market players.
No need to shift the Hong Kong dollar peg
Tai Hui (right), economist at Standard Chartered in Hong Kong, presents four reasons why the Hong Kong authorities should not change the HK dollar’s peg to the greenback
Westpac building global presence
SYDNEY AND LONDON – Westpac has made an addition to its FX desk and relocated two staff to its London office as it continues to build its global FX presence.
JP Morgan loses two in London
LONDON – JP Morgan Chase has lost another two members of staff from its London office. Tracey Rodriguez has resigned from her role as a senior salesperson, covering interest rate products and reporting to desk head Sikander Ilyas.
Prime brokerage threatening banks
LONDON – Banks are charging far too little for prime brokerage to be profitable, according to market players.
BNP loses sales head
NEW YORK – Drew Gross, head of North American FX sales at BNP Paribas in New York, has resigned from his role, FX Week has learned.
DrKW adds two in London
LONDON – More FX sales team hires have been made at Dresdner Kleinwort Wasserstein (DrKW) in London, adding to the 20-plus hires it has made globally since its restructuring late last year.
Misys launches aggregation service
LONDON – Misys Banking Systems (Misys) has launched the Misys Treasury Exposure Aggregation Service (MTEAS), adding more features to its foreign exchange offering.