Articles by FX Markets Staff
Foley to launch Gelber FX desk
CHICAGO – Bank One's former forex options chief Justin Foley is joining Gelber Trading, a division of Chicago-based trading firm Gelber Group, to set up a new FX desk in September.
Pension funds scramble for FX management
LONDON – UK pension funds' demand for foreign exchange management has gone through the roof over the past year, as trustees and managers seek to limit risk and improve returns.
Rate differentials bolster peso trading
MEXICO CITY – Speculation on the direction of US interest rates is bolstering already high levels of trading in US dollar/Mexican peso.
No vote sustains Scandi dealers
LONDON – Scandinavian, and particularly Swedish, FX sales staff are in demand nearly one year on from Sweden's referendum ruling out the imminent introduction of the euro.
CSFB gets OK for derivatives in China
HONG KONG – The China Banking Regulatory Commission (CBRC) authorised Credit Suisse First Boston (CSFB) to launch a financial derivatives business in China last week.
Return of the voice broker
Cantor Fitzgerald revives voice broking market with spin-off firm. NEW YORK - Cantor Fitzgerald reversed a trend of consolidation in the broking market last week by spinning off a new firm to focus exclusively on voice broking.
Hedging when the market moves against you
A nine month sliding forward structure can help your company achieve attractive FX hedging rates when the market has moved substantially beyond your budget rates, says Adam Gilmour, head of FX options sales in Citigroup's emerging markets sales and…
RBS flicks to video switches for forex
NEW YORK – FX traders at Royal Bank of Scotland (RBS) in New York are battling data latency by reverting to a traditional form of technology – video switches.
Is yen decoupling from oil?
The yen's gains against the greenback last week suggest an apparent decoupling from oil says Neil Mellor, currency strategist at Bank of New York in London
China eases restrictions on capital account
BEIJING – The Chinese government made further steps towards liberalising the capital account last Wednesday by allowing insurance companies to invest 80% of foreign exchange assets overseas.
BarCap hires IR derivatives team
LONDON – Barclays Capital has made two interest rate derivatives appointments in London.
EBS reports per-minute record post jobs data
LONDON – Traders manning the traditionally quiet summer desks saw a surprise burst of action on August 6, as a massive surge in volumes followed shock jobs data out of the US.
Westpac transfers sales chief
LONDON – Westpac's Hugh Killen is relocating from Sydney to London to take on sole responsibility for global institutional foreign exchange sales, following the departure of former co-head David Beale.
Lloyds hit by treasury departures
LONDON – Lloyds TSB's treasury sales team has been hit by two senior departures just as the bank has boosted its regional presence.
Dollar/yen break-out expected
TOKYO – Technical indicators suggest dollar/yen could be set to break out of the tight trading range it has been trapped in since June. "Resistance is declining and support is rising. We will get a decent break-out trade soon," said Karen Griffith, head…
Dresdner's FX trade revenues in decline
FRANKFURT – A reduction in Dresdner Kleinwort Wasserstein's FX trading revenues, coupled with a drop in earnings from the rates business, has knocked about 10% off the bank's total year-to-date operating revenues, it said last week.
HSBC’s profits up by a third
LONDON – HSBC’s FX profits so far this year are up by more than a third compared with last year, with a massive $902 million earned from FX dealing in the first half.
SuperD releases SD-FX upgrade
LONDON – Options pricing systems vendor SuperDerivatives launched an upgrade of its SD-FX system last week.
Sideways trading hits funds in June
STAMFORD, CT – Sideways trading stopped most funds on the Parker FX Index profiting from currency trading in June, the Index revealed last week.