Articles by FX Markets Staff
MAS to maintain "modest" currency appreciation
SINGAPORE – The Monetary Authority of Singapore (MAS) will maintain its "policy of modest and gradual appreciation" for the Singapore dollar at its semi-annual monetary review tomorrow (April 12), analysts have predicted.
What is the fate of the greenback?
Corporates need to be aware of the likely fate of the dollar. Simon Miles (below), head of dealing at London-based foreign exchange brokerage CorporateFX, points to economic policies leading to another bubble, and says the authorities need to do more to…
Scandal-hit RBC loses Allen
LONDON – Mark Allen, head of FX for Europe and Asia at Royal Bank of Canada in London, has left the bank, the insitution has confirmed.
Further changes at SocGen
LONDON – Société Générale has yet again made changes to its management structure, as it tries to finalise the set-up of its forex desk.
CFETS/Reuters launch non-RMB FX portal
SHANGHAI – China Foreign Exchange Trading System (CFETS) began marketing its trading platform that allows trade in eight foreign currency pairs in Shanghai last week.
ACM set to target banks
GENEVA – Advanced Currency Markets (ACM) is to target the institutional market with a new version of its FX trading platform.
Commission-free CME FX futures trading from CMC
NEW YORK – CMC Group, online foreign exchange service provider, has launched trading in Chicago Mercantile Exchange’s (CME) currency futures, commission free.
NAB unveils latest changes
SYDNEY – National Australia Bank (NAB) has hired Peter Coad as general manager of its markets division. Based in Sydney, Coad will be responsible for leading the markets strategy at a global level. He will also be working with team heads that fall under…
China names new FX chief
BEIJING – Chinese authorities have appointed Hu Xiaolian to head the country’s foreign exchange regulatory body, the State Administration of Foreign Exchange (Safe), according to local press last week.
BoA loses Singapore strategy team
SINGAPORE – Bank of America (BoA) has lost its currency strategy team in Singapore. Simon Flint senior currency strategist, left Bank of America Singapore last week the bank confirmed.
SunGard Data deal goes through
PENNSYLVANIA – SunGard Data Systems is to be acquired by a private equity group for around $11.3 billion.
SuperD boosts sales team
GLOBAL – Pricing systems vendor SuperDerivatives has hired 12 sales people in Asia, Europe and New York as part of its plans for expansion.
INR – everything is relative
The INR’s over-extended valuation against the Reserve Bank of India’s REER implicit policy anchor continues. This over-extension is looking anomalous against the continued backdrop of Asian FX selling. Claudio Piron, Asian FX strategist at JP Morgan in…
Deutsche offers sharia FX product
MANAMA, BAHRAIN – Deutsche Bank has structured what it claims to be the first FX hedge to be compliant under sharia law.
BBH expands limit order management solution
NEW YORK – Brown Brothers Harriman Foreign Exchange (BBH) has added multiple enhancements to FX OrderView, its electronic limit order management system.
CME signs SuperDerivatives deal
NEW YORK – Chicago Mercantile Exchange (CME) has linked with SuperDerivatives to provide transparency in its European-style options.
Hires hitting the peak season
NEW YORK/ HONG KONG/ LONDON – The pace of foreign exchange hires is picking up, as banks hurry to recruit following the end of the bonus season and a cut-off from some institutions, according to headhunters.
Historical ticks from Tenfore
LONDON – Tenfore Systems, real-time global market data feeds and applications vendor, has launched its historical tick data service.
Michael N considers currencies model
MALTA – Malta-based systemic trader, Michael N Trading is considering applying a software trading model used in its T-Bond/Bund program to currencies for future fund launches.
Keeping a steady ringgit
Deeds speak stronger than words when it comes to the Malaysian ringgit, says Dominique Dwor-Frecaut, emerging markets strategist at Barclays Capital in Singapore
Green light for Lloyds night desk
LONDON – Lloyds TSB Financial Markets Division (FMD) launches its London-based 24-hour forex trading desk on March 29.