Articles by FX Markets Staff
When size matters
Political risk is not a factor sterling has had to contend with recently, but the UK's general election on May 5 might see this change, says Daragh Maher, senior currency strategist at Calyon in London
New investors spur 2004 forex growth
GREENWICH, CONNECTICUT – An increase in FX trade by almost a quarter last year was largely driven by a new class of professional FX investors.
MAS maintains forex policy
SINGAPORE – The Monetary Authority of Singapore (MAS) maintained its policy of a modest and gradual appreciation of the Singapore dollar nominal effective exchange rate, last week.
Mixed reaction to EBS Prime initiative
LONDON – Interbank trading platform EBS' foray into the investor community is being taken up with varying degrees of enthusiasm by member banks.
Glitch forces Globex trading halt
CHICAGO – The Chicago Mercantile Exchange was forced to suspend trading of eurodollar futures on its Globex trading platform for two hours last Thursday, April 14, after users experienced problems accessing the eurodollar electronic matching engine.
Sabbaticals gain approval
LONDON – The FX industry has seen a number of high-profile figures taking time out of the industry in recent months, with market participants saying sabbaticals would be a healthy option for the industry.
Bear Stearns rejigs London and New York forex desks
LONDON AND NEW YORK – Bear Stearns has made a number of changes to its FX desks in London and New York as it builds in some areas while losing staff in others.
A cheaper way to take a bearish stance
Ian Stannard, senior currency strategist at BNP Paribas in London, suggests using an anticipated short-term recovery to significantly reduce the cost of entering a longer-term bearish strategy on USD/JPY
StanChart beefs-up trading
LONDON – Standard Chartered has seen developments in its trading team with two arrivals and a departure.
RTS revamps core platform
MOSCOW – RTS Stock Exchange is revamping its core technologies to accommodate new trading strategies.
Managers turn to options
LONDON – Currency managers are increasingly turning to options to derive returns from implied volatility in the currency markets.
RBS sees change in sales
LONDON – Royal Bank of Scotland's sales team has seen changes recently with one appointment and a departure.
Korean banks report mixed FX results
SEOUL – Korean banks reported strong revenues from their FX business in 2004, with one bank seeing a rise of more than 40%.
BarCap forecasts mid-year RMB peg change
BEIJING – Barclays Capital is forecasting a mid-year change to the renminbi (RMB) peg, the bank announced at its global FX conference in the Chinese capital last Friday.
Sumitomo reorganises treasury
LONDON – Sumitomo Mitsui Banking Corp (SMBC) in London has lost a number of FX spot traders, as the Japanese bank's treasury team undergoes a major facelift.
Calyon rejigs capital markets
LONDON – Calyon has reorganised its capital markets group under the auspices of new deputy chief executive officer Marc Litzler, following the departure of Omar Abukhadra, head of credit and equity.
Departures hit Deutsche Bank
LONDON & FRANKFURT – Deutsche Bank has been hit by a series of departures across FX departments in recent weeks.
Options traders top pay bracket
LONDON – UK forex options dealers raked in the largest pay packets this year, with total packages averaging more than £500,000, according to a survey by City-based executive search firm, Napier Scott.
BarCap enhances eFX platform
LONDON – Barclays Capital (BarCap) has enhanced its eFX trading platform in a bid to offer more accurate pricing and efficient execution for its users.
Ruble and NOK benefit from high oil price
OSLO – The strong oil price has led to strength in currencies such as the Norwegian krone and the Russian ruble, as exporting nations benefit from strong revenue flows.
Reasons for rand depreciation
Tania Kotsos, senior emerging markets strategist at RBC, highlights the reasons why the South African rand should weaken over the next 12–18 months