Articles by FX Markets Staff
Volatility rises ahead of G7 meeting
LONDON – Currency markets volatility has increased in the run-up to the G7 meeting this week, as traders speculate over the possibility of a change to the Chinese currency regime.
The unitised managed assets solution
Packaging FX into a fund that retail investors can get easy access to is not straightforward, say Jan Vandendriessche, director, managed assets development, and Stephan Martinussen, senior manager, sales trading at Saxo Bank. They advocate setting up a…
Major rejig at Merrill desk in NY
NEW YORK – Merrill Lynch has seen significant changes to its FX desk in New York, following the departures of two managing directors.
Portware offers access to Hotspot
NEW YORK – Portware, the New York-based vendor has implemented access to Hotspot FXi’s live foreign exchange trading market-place via its real-time, FIX-compliant, broker-neutral system Portware Professional.
Ex-NAB traders to plea in March
MELBOURNE – The four traders at the heart of the A$360 million currency options scandal that rocked National Australia Bank (NAB) last year are to enter a plea at Melbourne Magistrates Court on March 22.
Currency funds taking off
LONDON & COPENHAGEN – Currency funds are coming to the fore, as more players in the FX market launch vehicles to meet investor demand.
Prebon suffers further blow
LONDON – Prebon Yamane has suffered further blows in London, as parent Collin Stewart Liberty (CST) has rationalised the G7 currency options arena leading to the departure of a number of former Prebon staff.
CMC makes landmark inroad to China
BEIJING – UK-based FX trading firm CMC Group has become the first authorised non-bank provider of foreign exchange products in China.
Refco hires again – in New York
NEW YORK – Refco Group has added two new faces to its FX institutional sales team in the US, following the recent launch of its revitalised platform Refco FX ProTrader ( FX Week , December 20, 2004).
Trayport adds FX functionality
LONDON – Trayport, the London-based technology vendor, has enhanced the functionality of its flagship trading platform Global Vision 8 (GV8).
Asian governments hold the key to dollar’s future
LONDON – Decisions made in Tokyo and Beijing, rather than Washington or Frankfurt, will determine the future of the dollar, according to a report published last week.
Ringgit peg likely to end, say analysts
KUALA LUMPUR & SINGAPORE – The days of the Malaysian ringgit’s six-year peg to the dollar look to be numbered, according to analysts in the region.
CST merges G7 currency options desks
LONDON & SINGAPORE – Colin Stewart Liberty has merged the G7 currency options desks of Tullett Liberty and Prebon Yamane in London and Asia, FX Week has learned.
Corporate confidence in FX on the rise
LONDON – Forex activity from corporates will continue to grow in 2005, following the introduction of accounting standard IAS 39 and the Homeland Investment Act, according to banks.
HK FX traders favour service over price
HONG KONG – Service rather than price is the key determinant for FX traders, according to a survey carried out in Hong Kong.
Kissing with confidence is key to FX
Keep it structurally simple (Kiss), says Evan Steed, director FX options trading and sales TD Bank Financial Group. This truism is especially appropriate as the greenback faces an uncertain future and regulatory change comes to Canada
NAB rejig continues
SYDNEY – National Australia Bank (NAB) has continued its rebuilding process by hiring David Hicks as an Australian dollar forwards dealer.
Dresdner misery continues
FRANKFURT – The recent exodus from Dresdner Kleinwort Wasserstein has continued, with two more departures in the past month.
Private bankers boost structured products sales
LONDON – Private bankers are buyoing the expanding market for structured products linked to currency movements, in a bid to provide more attractive yields to their clients.
BTM takes Cognotec’s MRM
TOKYO – Bank of Tokyo Mitsubishi (BTM) has gone live with technology vendor Cognotec’s Market Rate Manager (MRM) solution, the vendor announced last week.
Fixed-income reorg for BNP
LONDON/NEW YORK/TOKYO – BNP Paribas is set to reorganise its fixed-income business in a bid to breathe new life into the business.
GFT deepens Asian presence
TOKYO – Futures commission merchant Global Forex Trading (GFT) is expanding its presence in Asia by establishing offices in Tokyo, Hong Kong and Sydney.