Articles by FX Markets Staff
Goldman prop traders 'to retire'
LONDON – Goldman Sachs is to lose its two chief London-based prop traders at the end of the year.
CitiFX signs up to Currenex
LONDON – Online trading platform Currenex has linked up with Citigroup to offer the CitiFX Benchmark product to its customers.
Optimism ahead of latest BIS FX trade figures
BASEL – Banks are bullish about the Bank of International Settlements' (BIS) latest FX trading figures, due out in a survey this week.
State St departures force restructure
MASSACHUSETTS – State Street Global Markets (SSGM) is set to restructure its e-commerce platform, Global Link, following the departure of two senior staff.
Barclays aims to crack Asia
SINGAPORE – Barclays Capital has made a number of hires in Asia, in a bid to boost its presence in the region.
Making the most of upcoming volatility
For the currency overlay manager looking to take advantage of a burst of market volatility at the start of the fourth quarter, Simon Derrick, head of Bank of New York's currency strategy team, describes a simple, low-cost way for them to express their…
Saxo returns to Australia
SYDNEY – Saxo Bank was last week able to return fully to the Australian FX market, after moves by the regulator had limited its ability to trade there since March.
Foley sets out FX stall at Gelber
CHICAGO – Justin Foley, who joined Gelber Trading ( FX Week , August 30) in Chicago last Monday, has started to lay the foundations for the foreign exchange division.
FX majors unmoved by stronger capex
The capital expenditure recovery is unlikey to shake FX majors from their limited volatility, says Darragh Maher, senior currency strategist at Calyon
Trading volumes surge on rupiah volatility
JAKARTA – Trade volumes in the Indonesian rupiah surged by around 50% when markets reopened following the presidential elections last week.
Sun Platinum pays $40 million penalty
WASHINGTON – FX trading firm Sun Platinum was last week ordered to pay $40 million in civil penalties and restitution to customers, after a US district court entered a default judgment against the firm.
SG to name global FX head
LONDON – Dominick Errichetti is set to take on global responsibility for foreign exchange at SG Corporate and Investment Banking (SG CIB) in New York, according to sources close to the bank.
HSBC launches charting package on FXall
LONDON – HSBC has launched a free online FX charting package on multi-bank portal FXall's website, covering 15 major cross rates. The service, fxcharting@hsbc, is white-labelled from UK-based charting provider TraderMade.
Ringgit revaluation looms
A change in the Malaysian ringgit's peg to the dollar is likely, despite the Malaysian authorities' protestations that this will not happen, says David Mann, Standard Chartered's senior FX strategist in London
Asian currencies bounce back after price hit
HONG KONG – Asian currencies have bounced back after taking a hit from the high price of raw materials, particularly oil, in recent weeks.
FX policy has worked, says RBA
CANBERRA – The Reserve Bank of Australia (RBA) has succeeded in its aim of stabilising the Australian dollar through intervention in the currency markets, it said last week.
Citi reorgs senior management
LONDON – Citigroup has set up a new products and services group for foreign exchange, as part of a sweeping reorganisation of senior management.
Mellon takes Citi VP
LONDON – Mellon Bank has expanded its European asset manager FX sales desk in London with the hire of Ben Holder from Citigroup.
Hedge funds to rethink strategy
LONDON – Large numbers of hedge funds drawn to the FX market over the past year are likely to modify trend-driven FX trading, after being stung by heavy losses this year.
Townsend links with three FX firms
CHICAGO – Clients of trading technology and analytics vendor Townsend Analytics will soon be able to trade with three specialist FX trading firms via Townsend's RealTick Platform, the firm announced this month.
Saxo to stream deep prices
COPENHAGEN – Denmark's Saxo Bank will make a streaming feed of executable foreign exchange prices available to clients in off-market order sizes later this year.