Articles by FX Markets Staff
Waiting for a won u-turn
After the recent declaration that the Bank of Korea intends to employ a policy of currency diversification in its reserve holdings, the won performed strongly. Here, Bhanu Baweja, FX strategist at UBS in Singapore, looks at what could trigger a u-turn
Deutsche quits EBS Prime
LONDON -- Deutsche Bank is pulling out of EBS Prime due to a lack of economic benefit it has seen from being on the platform.
Banks focus on mid-caps
LONDON -- Commercial banks are focusing more on mid-cap corporates this year as an alternative to the ‘over-banked’ blue chip firms, say market participants.
Dollar rebound won’t last
Less support for US currency as year goes on, says Jeff Young, head of FX strategy at Citigroup in New York
Reuters & Bloomberg target buy side
NEW YORK -- Bloomberg and Reuters are going head to head in a bid to target the burgeoning buy-side market, with forex transactional capabilities being launched by both global information providers.
Lebanese central bank to keep currency stable
BEIRUT -- The Central Bank of Lebanon has vowed to keep the Lebanese pound stable, after last week’s assassination of former prime minister Rafiq Hariri.
Trio departs Lehman Brothers
NEW YORK & LONDON -- Lehman Brothers is the latest bank to see high-profile departures from its desk, with the exit of three senior members of staff.
Calyon chooses Reuters for FX
LONDON -- Calyon has launched its revamped FX online trading platform, Aquarius, using Reuters technology.
Legal standards for FX prime brokers
NEW YORK -- Legal standards for documentation between foreign exchange prime brokers and their dealers will be introduced next month.
FNX extends in Thailand
BANGKOK -- FNX, the Philadelphia-based technology vendor, has said that Siam Commercial Bank (SCB) is now using its Sierra Treasury Solution, the third client to go live with it in Thailand.
Making the most of fresh yen strength
A fresh bout of yen strength may be imminent. Simon Derrick, head of Bank of New York’s currency strategy team, describes a simple, low-cost strategy for currency overlay managers looking to take advantage of the latest moves
NAB gears up for forex options restart
SYDNEY -- National Australia Bank (NAB) has hired in preparation for the re-launch of its forex options desk, following its closure last year as a result of a trading scandal.
ACM adds currencies and precious metals
GENEVA -- Advanced Currency Markets (ACM), the online FX trading firm owned by Refco group, is adding several new currency pairs and precious metals to its online dealing platform.
Multibank platforms ‘to consolidate’
LONDON -- The multibank platform space is set for further rationalisation following the demise of Centradia, according to market participants.
Aussies loosen FX regulations
SYDNEY -- Australian authorities have amended regulations to make it easier for foreign exchange businesses to operate in the country. The Australian Securities and Investments Commission (Asic) has extended the scope of those exempt from holding an…
Orion implements Penson FX
MONTREAL -- A Canadian financial services firm has launched an online, hosted forex trading system, Penson FX, which is aimed at investment managers and brokers.
Market players look to future euro members
BUDAPEST & WARSAW -- International investment banks have piled into central Europe ahead of planned euro adoption.
Commerzbank out of NY
NEW YORK & FRANKFURT -- Commerzbank has closed the remainder of its FX trading desk in New York, as part of its streamlining of the trading business back to Frankfurt.
Expect nasty surprises
Michael Klawitter, senior currency strategist for West LB, believes the US current account deficit will remain a problem
AUD/USD hedge for an uncertain outlook
With an uncertain short-term prognosis for the AUD/USD, Sara Sullivan, senior manager, financial engineering at ANZ Bank in London, explains a structure that offers downside protection against a stronger Aussie while allowing unlimited upside potential…