Articles by FX Markets Staff
Harry Culham joins Dresdner
LONDON – Ex-Merrill Lynch FX chief Harry Culham is joining Dresdner Kleinwort Wasserstein in London to take on global FX for the bank, following the departure of Jorge Villon.
Hantec U-turns on Refco deal
HONG KONG – Hantec Investment Holdings, a Hong Kong-based financial services company, has backtracked on an agreement to discuss licensing investment firm Refco Forex's FX trading system, RefcoFXTrader, less than two months after signing a memorandum of…
Spotlight on Japan's yen policy
With the focus on the US, little attention has been paid to Japan. Jake Moore, FX analyst at Barclays Capital in London, examines the MoF's likely actions now the US election is over
European banks' profits slide
LONDON – The huge downward move in the dollar last week came too late to help banks' third-quarter FX trading revenues.
Public sector holds back on FX
LONDON – Public sector companies may be holding back on using currency derivatives until they fully understand the implications of the new IAS 39 accounting standard, which comes into force in early 2005, and how the implications of reporting under the…
JPMC to reshuffle research group
HONG KONG – JP Morgan Chase is reorganising its Asia economics and credit & rates research teams. The move is part of a transitional phase in light of the departure of Bill Belchere, head of Asia economic research and market strategy, at the end of the…
Trading Technologies strikes cash forex trades deal with Hotspot FX
CHICAGO – Trading Technologies International (TT) the Chicago-based software vendor, and Hotspot FX, which operates electronic FX marketplaces, have announced that Hotspot FX will allow TT's customers to transact cash FX trades via TT's X_Trader order…
China rate hikes boost FX volatility
CHINA – Volatility in global FX has surged amid speculation that the first rate hike by the People's Bank of China (PBOC) in almost a decade could spark a sooner-than-expected yuan revaluation, according to analysts.
The US election effect
How will the US election affect the FX markets? Alan Ruskin, New York-based research director, 4Cast, reveals the results of his company's recent survey
Russian derivatives legislation stalls
MOSCOW – Efforts to fast-track the introduction of new legislation in Russia to provide legal certainty for derivatives contracts appear to have failed since a hearing on the subject at the Russian Federation state duma on September 27.
RBS boosts German sales staff
LONDON – Royal Bank of Scotland (RBS) is to increase the German FX sales headcount at its London office in the first quarter of 2005, in a move to expand its coverage of the region.
New retail laws spark alarm in Japan
TOKYO – A debate is raging in Tokyo over the impact new retail FX trading laws will have on the developing market.
Chinese currency to rise by 25% against dollar
LONDON – China's currency is up to one quarter below its true value and a significant adjustment on the forex market is inevitable.
Q3 hits earnings but Q4 sees pick-up
NEW YORK – All major US commercial banks have now reported their third-quarter results, confirming poor trading conditions have hit returns for FX.
Shock job losses at Tullett
Tullett Liberty's forwards desk loses as merger with Prebon completes LONDON – Tullett Liberty has suffered a surprise defeat in the integration of its forex business with that of rival Prebon Yamane. Broking sources in London say Tullett's FX forwards…
Koram takes merger lead
SEOUL – Koram Bank's senior executives are taking the top positions in the merged FX group formed by Citigroup's purchase of the Korean bank, which starts trading as one entity on November 1.
US dollar's central role
The dollar is likely to have a large role to play in the adjustment of the US economy, whether it is suited to it or not, writes Alan Ruskin, research director at New York-based analysis firm 4Cast
Rupee trading set to double, say local traders
MUMBAI – Daily trading volume in the Indian rupee could double by the end of the year to $300 billion. Despite the potentially negative impact of the current high price of oil – India being a net crude oil importer – local market participants are…
Canadians join State Street's e-commerce settlement service
BOSTON – State Street Global Markets signed up the big five Canadian banks to its settlement and confirmation matching tool for FX last week.
Prime brokerage best for individual investors
Individuals who want to trade FX may find a prime broker will promote confidentiality, cut out settlement difficulties and help resolve credit issues, says Peter Wakefield, MD of research and product development at Record Currency Management in the UK