Articles by FX Markets Staff
FX chiefs made partners at Goldman Sachs
LONDON - Kevin Connors and Paddy Boyle, London-based members of Goldman Sachs' foreign exchange division, were made partners in the biennial induction of new members to the partnership pool last Wednesday (October 29).
South Korea hits back at foreign media
SEOUL - The South Korean government hit back at foreign media last Wednesday (October 29), claiming Korea is better positioned to withstand the global economic crisis now than it was during the 1997 Asian crisis.
MF Global gets new CEO as Davis quits
NEW YORK - Kevin Davis resigned as chief executive of MF Global on October 29 and has been replaced by Bernard Dan, after a turbulent few months for the institutional broker.
Nomura reports poor H2 results
TOKYO - Nomura's global markets division suffered pre-tax losses of ¥148.3 billion in the bank's half-year results, released last week (October 28).
Discord at Commerzbank
LONDON – Eddie Listorti and Stefan Guetter have rejected positions offered to them at Commerzbank after the merger with Dresdner Kleinwort takes place.
Managed Models adds two new clients
LONDON - London-based data analytics company Managed Models has signed on two more banks, as institutions seek to add efficiency to foreign exchange liquidity management operations.
Monier: Markets feel structural shift
SINGAPORE - "We might be entering more of a structural shift than just another crisis," said Stephane Monier, global head of fixed income and currencies at Fortis Investments, at the FX Week Asia Congress last week.
NFA in FX regulatory crackdown
CHICAGO - The National Futures Association (NFA) is proposing an overhaul of the regulations governing foreign exchange trading for members, in a bid to protect the interests of retail traders in the US.
Coupland expected to head forex sales at Lloyds-HBOS
LONDON - Nigel Coupland is tipped to become head of foreign exchange sales at the merged Lloyds TSB-HBOS entity in London, according to a London-based headhunter.
Citic admits $2bn loss
HONG KONG - Citic Pacific is being investigated by the Hong Kong Securities and Futures Commission after admitting it could face almost $2 billion in losses due to involvement in unauthorised currency hedging.
A return to vanilla
GLOBAL - Banks are preparing for a vanilla year next year in the derivatives market, as investors seek transparent structures in an environment of heightened volatility and inconsistent liquidity.
E-trading could free Asia from dollar dependency
SINGAPORE - The expansion of electronic trading could lessen Asia's dependency on the US dollar as a vehicle currency, according to Yosuke Tsuyuguchi, director of Bank of Japan's Centre for Monetary Co-operation in Asia.
FX results up down under
LONDON & SYDNEY - Australian lenders ANZ and National Australia Bank (NAB) have announced strong full-year revenues for foreign exchange, despite revealing overall profits affected by tumultuous financial market conditions.
SEB's multi-manager fund thrives
STOCKHOLM - SEB's multi-manager currency fund has returned 2.45% over cash on a year-to-date basis and 48 basis points for September, say bank officials.
A true test for Asian markets
"Don't panic, but be fearful" was the message at this year's FX Week Asia Congress, held last Tuesday (October 21) in Singapore.
Dealers urged towards aggressive pricing
SINGAPORE - Panellists at last week's FX Week Asia Congress said dealers should use the turbulent market conditions to gain market share through aggressive pricing as competitors price spreads wider.
BNP Paribas ups the ante in forex
LONDON - BNP Paribas plans to roll out a new foreign exchange trading platform to select clients by the end of the year, in a bid to grow its presence in FX.
CME launches lira currency futures
CHICAGO - The Chicago Mercantile Exchange (CME) has launched Turkish lira currency futures, in an effort to deepen its footprint in emerging markets (EM) currencies.
Calls on low yielders overpriced
GLOBAL - Dealers report an overpricing on calls in low-yielding currencies, as investors move into less risky assets.
AthenaTrader 4.2 features more FX tools
NEW YORK - Custom trading and testing software vendor Aegisoft will add new tools to the next release of AthenaTrader, aimed at giving the end user greater control of foreign exchange trades.
Ex-Lehman staff form action group
LONDON - A group of around 30 former Lehman Brothers employees in London have formed an action group seeking to win compensation from the collapsed US investment bank.