Articles by FX Markets Staff
GL Trade acquires Ubitrade
LONDON -- GL Trade, the France-based vendor of trading systems, recently announced the acquisition of Ubitrade, a specialist in derivatives processing.
CME expects prop trading growth
The changing shape of the FX market and of the world economy will lead to significant changes in the way foreign exchange is traded.
New RBC bullion team takes shape
LONDON – Jason Henderson is to move to London in January to head RBC Capital Markets' bullion team, which opens as a market maker on December 1.
New patents from Currenex and TraderTools
LONDON – Software vendor Currenex has announced two new patents on its technology platform to promote and protect its operations.
SsiSearch's CLS Listing Rule hits the market
LONDON – Authenticated reference data firm SSiSearch goes live with its Listing Rule next Monday (December 6).
Commodities finding favour
LONDON – Commodities-related business could make up to 20 times more for FX sales desks next year compared with 2003, according to a leading market player.
Forex appeal set to continue
Foreign exchange is likely to continue to appeal to investors as an asset class, as a result of its liquid and transparent markets and the trading opportunities it offers, said Daniel Szor, managing director of currency firm FX Concepts in Paris.
Trends are the way forward
Jessica James, director of the risk advisory group at Citigroup in London, extolled the virtues of trend and carry strategies for FX trading at the FX Week Congress in London last week.
Dynamic hedging strategies in Turkish lira
Emerging markets options offer the benefit of extreme differences in implied volatility and interest rate differentials. Here, James Davison, FX derivatives marketer at ABN Amro in London, outlines how corporate clients can see the benefits investors…
Congress clips
The continuous-linked settlement (CLS) service for settling foreign exchange trades announced the launch date for the next group of currencies to join the service.
Forex strategists en vogue
LONDON – FX strategists are at a premium because banks can no longer differentiate themselves on price. As a result, the recent high turnover of strategists is being driven by tighter pricing, say market sources ( FX Week , August 30).
Forex liquidity crisis looms
LONDON – Top banks UBS, Deutsche Bank and Barclays Capital warned of a potential liquidity crisis in foreign exchange at the FX Week 2004 Congress in London last week.
Danske Bank's London FX at risk
COPENHAGEN – Danske Bank's planned job cuts in London are likely to hit the FX team, according to a source close to the bank in Copenhagen.
Euro role grows, says ECB
The euro is increasingly being used as an international currency and its place in the global markets is becoming ever more important, a European Central Bank (ECB) official told delegates at the FX Week congress in London last week.
Will Asia dump the dollar?
The possibility of a dollar collapse must be taken seriously. The US's benign neglect is increasingly untenable, says Tim Clayton, analyst at market analysis firm Investica in London
Intervention will not halt dollar weakness
SEOUL – The dollar's dive against Asian currencies to record lows is unlikely to be halted by large-scale intervention, according to analysts.
White-labelling now a reality
White-labelling – the provision of FX liquidity and e-trading platforms by top-tier banks to their clients – has moved on in the past year to become a reality, agreed panellists at the FX Week Congress in London last week.
Deutsche pinches e-trading title from UBS
Deutsche Bank won the award for best bank in e-trading this year – forcing UBS, long seen as the best e-trading bank, into second place.
HSBC rings the changes
LONDON – HSBC has seen a number of changes in its sales team. The bank has hired Alessandro Cataldi from Bank National De Lavoro, Mirea Sitjas-Montaner from Deutsche Bank and Stephane Verhelst from Dresdner to work in its European bank sales team. The…
UBS holds onto pole position
LONDON – UBS is the top-rated bank in FX, according to the 1400 voters in FX Week's 10th annual survey of the market.
All change as ANZ restructures
MELBOURNE – Rick Sawer, managing director of ANZ's foreign exchange and commodities division is to leave the bank following a decision to restructure the business.
Protecting against losses while making gains
Given the rapid, one-way move in the Canadian dollar (CAD), many hedgers who are short CAD are looking for innovative hedging ideas. John McAuliffe, manager, US FX options sales at the Bank of Montreal in Chicago, suggests some options