Articles by FX Markets Staff
Yen volatility returns in MoF absence
TOKYO – Traders in Japan are reporting a healthy return to yen volatility following the Japanese Ministry of Finance's (MoF) withdrawal from currency intervention in mid March.
Forex firm fined record $100m for fraud
NEW YORK – A US federal court ruled in favour of the Commodity Futures Trading Commission (CFTC) last week, as it found a foreign exchange futures firm liable for the illegal sale of futures contracts. The $100 million restitution and penalty charges…
HSBC adds real-time flow data to auto-trader
LONDON – HSBC is piloting a new version of its FX auto-trading system to combat pricing and liquidity issues in online trading, a senior official told FX Week .
NAB hires senior managers in Asia
TOKYO – National Australia Bank (NAB) has made two senior appointments in Asia. Shinya Fukumoto joins in Tokyo as director and head of capital markets, Japan, from TD Securities, where he has worked for 10 years, most recently as a director in strategic…
Micex expands forex coverage
MOSCOW – The Moscow Interbank Currency Exchange (Micex) has launched new FX contracts in a step towards expanding the exchange-traded FX market in Russia.
Twist targets corporates with new payments standards
LONDON – Twist, the treasury standards organisation, is releasing new payments standards resulting from collaboration between a number of banks, corporates and standard authorities.
Year of plenty for top 30 banks
Little evidence of mid-tier contraction as revenue ranking hits new high
Boosting dollar returns during euro strength
To boost returns on a US dollar deposit in a bullish euro environment, a European exporter would be wise to consider an FX tarn with conversion, says Christophe Bouculat, senior FX structurer at Calyon in Paris
RBC launches China sales team
HONG KONG – Royal Bank of Canada Capital Markets (RBC CM) is launching a new cross-product sales group for Chinese clients.
Reuters sees sales turnaround
LONDON – Reuters chief executive Tom Glocer last week announced the first positive month for sales since May 2001. Speaking at an investor's conference in London, Glocer said sales of the vendor's data and technology products in May 2004 exceeded…
Icap to add trading to i-Swap
LONDON – Faster-than-expected advances in electronic derivatives trading have prompted inter-dealer broker Icap to step up plans to launch its own electronic swaps trading platform.
SinoPac expands exotics trading
TAIPEI – Taiwan-based Bank SinoPac is on the look-out for traders to bolster its newly launched exotic options trading business in Taipei.
Snow hails CME's China deal
CHICAGO – The Chicago Mercantile Exchange (CME) has forged a ground- breaking deal with a central bank-sponsored FX trading platform in China, in a move hailed by US government officials as a crucial step towards renminbi flexibility.
An obsession with oil
Swiss franc, Norwegian krone and euro gains may be about to reverse, says Steven Pearson, chief currency strategist at HBOS Treasury Services in London
Improver knock-in forward for dollar bears
With the widely held belief that dollar/yen has scope to fall much further, Royal Bank of Canada's financial engineering team in London proposes a solution for a client wanting to buy US dollar forwards at more attractive rates. An 'improver knock-in…
Swissie rise snares forecasters
Dollar/Swiss was the most difficult currency pair to forecast over the past month, as the Swissie's 5% rise against the greenback took it from 1.3019 on May 7 to 1.2370 on June 7. Average % accuracy on one-month forecasts submitted by the 38 banks on our…
Election uncertainty hits Phillippine peso trading
MANILA – Market participants in the Philippines are anticipating a return to volatility in the next few weeks, as uncertainty over the recent elections clears up.
StanChart adds for global sales
SINGAPORE – Standard Chartered last week confirmed three hires to its global sales team, reflecting growing client business in both Asia and Europe, said David Carr, global head of sales and e-commerce at StanChart in Singapore.
EBS trading soars on volatility
LONDON – Spot broker EBS reported the fourth busiest trading day in its 11-year history last Wednesday (June 9), as the market reacted to a Federal Reserve statement hinting at aggressive rate hikes.
Overlay staff in short supply
NEW YORK – Demand for currency overlay is outstripping the supply of available managers, as the boom in investors managing currency continues.