Articles by FX Markets Staff
SSGM adds to Global Link team
BOSTON -- State Street Global Markets (SSGM), the investment research and trading arm of State Street, has made two new appointments in Boston.
RBC loses rates strategist
LONDON -- Jeremy Stretch has left his role as rates strategist at RBC in London to join Rabobank as a currency strategist. He replaces Lee Ferridge, who has taken up a role as prop trader for the bank in London.
BNP hires Italy FX sales head
LONDON -- BNP Paribas has hired Guido Williams in a new position as head of fixed-income derivatives and foreign exchange sales to Italian corporates and head of FX sales to Italian banks.
Further cuts at German banks
NEW YORK & DÜSSELDORF -- WestLB has closed its FX trading desk in New York and is beefing up its Düsseldorf team, the latest in a series of restructurings by German banks.
Regional FX investments take off
LONDON -- Sales of investments linked to baskets of regional currencies have taken off as investors search for yields from broad macro themes in Asia and central Europe.
FX trading online: are banks trading blind?
Banks are in danger of ‘trading blind’ and missing business opportunities as ever greater volumes of FX business are carried out via e-channels, warns James Kemp, managing director, Stentra
Aussie momentum wanes
The Aussie will face considerable pressure around the 0.78--0.80 region, says Tim Fox, chief economist at National Australia Bank in LondonThe Australian dollar has been in strong demand since the first week of the New Year, bucking an otherwise strong…
Asian ERM debate returns to the fore
HONG KONG -- Calls for an Asian currency regime mirroring the European exchange rate mechanism (ERM) are coming to the fore, as the region’s authorities face mounting pressure to alter their exchange rate policies.
eSpeed builds in forex
LONDON -- Technology vendor eSpeed has boosted its London office with three major hires.
More options for hedge funds
Options give hedge fund managers a tool to manage spot currency trades outside of leaving simple orders in the market. Jeff Cooper (right), vice-president responsible for sales and structuring of FX options at Bank of Montreal in Toronto, explores this…
Further departures at Morgan Stanley
LONDON -- Morgan Stanley’s recent FX staff exodus continued with the departure of another two in sales following two leavers last week.
Deutsche Bank restructuring continues
FRANKFURT -- Deutsche Bank is in the process of restructuring its FX business, with its emerging markets desk being relocated and changes being made in Asia.
CFTC cracks down on forex brokers
FLORIDA -- Rogue FX operators faced heavy penalties last week following action from the Commodity Futures Trading Commission (CFTC), with two firms -- World-Wide Currency Services and Intertrade Forex -- handed large fines.
BNP loses emerging markets head
LONDON -- Angus Galletley, head of emerging markets at BNP Paribas in London, has left the bank. Galletley was head of EM local markets and options for central/eastern Europe at the French bank.
CME adds European execution
CHICAGO -- The Chicago Mercantile Exchange (CME) will introduce euro FX and yen options contracts with European-style expiration on its electronic platform Globex in April.
Dresdner starts rebuilding
LONDON & FRANKFURT -- Dresdner Kleinwort Wasserstein (DrKW) has hired some new faces, as it begins to rebuild its FX team following a series of departures over recent months.
New Turkish lira causes surge of activity
ISTANBUL – The new Turkish lira (TRY) is seeing strong demand across Europe only a month after its rebasing, said industry insiders.
Rough ride ahead for Asian FX
Asia FX is heading for a volatile course in the coming fortnight, with poor economic data and continuing uncertainty about renminbi revaluation, according to Claudio Piron, Asian FX strategist at JP Morgan in Singapore