Articles by FX Markets Staff
Will payrolls break EUR/USD range?
The market is already shifting its focus to this week's payrolls release, but the case for a range break in euro/dollar from a large positive or negative surprise is not clear cut, says Trevor Dinmore, FX strategist at Deutsche Bank in London
How spreads can affect profitability
Spread cost makes a big impact on profitability, says Michael Stumm, co-founder and president of Oanda. Here he shows how to assess just how much different levels of spreads cost
TD Securities reshuffles in London
LONDON – TD Securities has reorganised forex management in London in order to build its emerging market desk.
Saxo Bank to launch in the US
NEW YORK – Retail forex specialist Saxo Bank will launch its online trading platform SaxoTrader in the US this week.
Chinese banks turn to Reuters for help with derivatives regulations
SHANGHAI – Guangdong Development Bank (GDB), First Sino Bank (FSB) and the Bank of Shanghai (BOS) are installing systems from Reuters to comply with derivatives regulations introduced by the China Banking Regulatory Commission (CBRC) in March.
South Africa comes under global focus
JOHANNESBURG – South Africa is currently a focus of activity in the FX world, as global institutions such as the Continuous-Linked Settlement Group (CLS) and spot broker EBS add the region to their sphere of activity.
NAB to re-open options desk
MELBOURNE – National Australia Bank hopes to re-open its currency options desk in the "near-term", said chairman Graham Kraehe last week. However, the bank refused to be drawn on a date, saying it was up to regulator the Australian Prudential Regulation…
BGC to hire 25 in spot forex
LONDON – Spot brokers are the initial target of Cantor Fitzgerald's upcoming recruitment spree for FX, as it prepares to spin off new voice broker BGC Partners, said an official at the firm last week.
ABN Amro wins China derivatives licence
SHANGHAI – ABN Amro last week joined the elite group of foreign banks authorised to trade FX derivatives in China after winning a licence from regulator the China Banking Regulatory Commission (CBRC).
BNP beefs up NY trading capabilities
NEW YORK – BNP Paribas has made seven appointments to its interest rate group in New York, headed by Zbigniew Ryzak. Nick Moore and Matthew Thomas move from the London office in trading roles. Moore becomes global head of US dollar vanilla options…
CSAM to add emerging markets to FX management
LONDON – Credit Suisse Asset Management (CSAM) is looking to add emerging market currencies to its suite of forex management services from early next year.
Eliminating foreign exchange translation risk
FX translation can mis-represent a company's profit growth on its balance sheet. Cliff Bayne, senior exotics dealer, and Terence Yiu, chief dealer, at ABN Amro in Singapore, explain how to hedge the translation risk at minimal cost
PHP trading volumes surge in "fiscal crisis"
MANILA – Traders in Manila are seeing soaring volumes in Philippine peso trading, after the country's president said it was in the midst of a fiscal crisis last week.
Commerce FX storms US retail market
BOSTON – Commerce FX, a subsidiary of Boston-based Commerce Bank & Trust, is reaping the rewards of its entrance into the retail margin trading market last year, an official told FX Week .
RiskMetrics signs 200th client for ASP platform
NEW YORK – Risk management vendor RiskMetrics Group has signed 200 clients for ASP (application service provider) delivery of its RiskManager, CreditManager and CDOManager tools, it said last week.
New hedging policy adds $35m fizz to Fosters
MELBOURNE – Australian brewer Fosters Group added nearly US$35 million to its operating profits after changing its FX policy this year in response to upcoming accounting standard IAS 39.
Two more quit Westpac London
LONDON – Two more senior forex managers have left Westpac in London, adding to the loss of co-head of global institutional foreign exchange, David Beale earlier in August.
Boom time for research staff
LONDON – FX strategists are finding themselves in demand as a result of a prolonged period of seat switching across banks globally. The latest moves underline the importance banks place on research as a driver of growth of their businesses.
FX volumes up by a third
LONDON – FX trading volumes are up by nearly a third over the past three years, according to new research from UK consultancy ClientKnowledge.
Will payrolls break EUR/USD range?
The market is already shifting its focus to this week's payrolls release, but the case for a range break in euro/dollar from a large positive or negative surprise is not clear cut, says Trevor Dinmore, FX strategist at Deutsche Bank in London
ABN Amro takes Traiana for PB
CHICAGO – ABN Amro has signed up to use Traiana's TRM (Trading Relationship Management) solution, which automates the give-up of trades between prime brokers.