Articles by FX Markets Staff
Long-term solution for dollar/rupee liability
With the Indian rupee rising and a low federal funds rate, Amit Bansal, head of treasury at Barclays Capital in Mumbai, proposes a solution for a corporate to take advantage of the inverted swap points
RBS is top 12m forecaster
Forecasting currency moves over a 12-month horizon is a difficult discipline. In addition to negotiating unexpected economic data, interest rate differentials and trader psychology, the successful forecaster must also contend with geopolitical risks - a…
StanChart hires hedge fund sales chief
SINGAPORE – Standard Chartered in Singapore has hired Michael Drennan as head of global hedge fund sales. The newly created position reflects increased client demand in the sector, said David Carr, global head of sales and e-commerce at StanChart in…
SuperDerivatives storms Singapore
SINGAPORE – SuperDerivatives has signed 10 new contracts in Singapore for its FX option pricing system SD-FX since the beginning of this year.
Volatility troubles traders
High intra-day volatility is making life difficult for forex traders, says Shahab Jalinoos, senior FX strategist at ABN Amro in London
Japan's MoF steers clear of intervention
TOKYO – Japan's Ministry of Finance (MoF) last week revealed it has not intervened in the FX markets since mid-March – and is likely to refrain from further currency intervention for some time, said market participants.
JP Morgan joins white-label race with Cognotec
NEW YORK – JP Morgan is launching a white-label FX trading platform for its financial institutions clients, using software from vendor Cognotec. The multi-product multi-language service enables the US bank's clients to provide a 24-hour FX service to…
HSBC wins BMo CLS contract
MONTREAL – Bank of Montreal (BMo) has selected HSBC as its settlement member for the continuous-linked settlement (CLS) service. The deal will bring HSBC another 200,000 FX transactions a year to settle on the New York-based settlement service on behalf…
Front integrates dt Compass, Arena
STOCKHOLM – Front Capital Systems, the Swedish subsidiary of SunGard, is working with four clients to integrate the recently purchased dt Compass FX options system from Derivatech into its Front Arena trading system.
Brokers react to shrinking market
LONDON – As the dust settles on the news of Collins Stewart Tullett's (CST) imminent takeover of Prebon Yamane, rival brokers are upbeat about their prospects arising from the £135 million deal. The combination of two of the six major broking firms in FX…
EBS launches Aussie and Canadian trading packages
LONDON – Spot broker EBS last week launched new Australian and Canadian dollar packages for its dealing platform in a bid to increase market-share in those currencies.
Citigroup restaffs Singapore sales
SINGAPORE – Citigroup has rehired to fill a void in its Singapore institutional sales team after a team of three defected to Barclays Capital.
ABN adds in hedge fund sales
LONDON – ABN Amro has hired two dealers to its European hedge fund sales team in London.
FX Concepts hires in options
NEW YORK – FX Concepts, a New York-based currency manager, has hired two options specialists to enhance its quantitative research, FX options and non-directional strategies management.
Saxo upgrades support service
COPENHAGEN – Saxo Bank has upgraded support for users of its white-label trading platform SaxoTrader, with a new service to offer advice on website development, advertising, marketing and customer relationship management.
Consortium tackles broker STP
LONDON – A handful of prominent banks and brokers known as the Trader Notification Service (TNS) Consortium has launched a platform that automates trade notification between its members.
FX Cross sees record trading volumes
LONDON – Citigroup and institutional broker Instinet said last week that record volumes are going through their joint forex matching service.
Singapore relaxes restrictions
SINGAPORE – Market participants in Singapore have welcomed a relaxation of restrictions on the Singapore dollar brought in by the Monetary Authority of Singapore (MAS).
BoA hires for Asian structured products
SINGAPORE – Bank of America has created a new debt management team in Asia as part of a plan to expand structuring and trading in the region.
Yen vol boosts BTM revenues
TOKYO – Yen volatility has boosted Bank of Tokyo-Mitsubishi’s (BTM) FX revenues, it said last week, as client demand for currency options soared in fiscal 2003.
Calyon retains CAI EM team
LONDON – Calyon, the bank created from the merger of Credit Agricole Indosuez (CAI) and Credit Lyonnais (CL) in April, is retaining an almost unchanged global emerging markets trading team from CAI, a senior official told FX Week.
DrKW hires but gaps remain
LONDON – Dresdner Kleinwort Wasserstein has hired 10 in global FX sales and derivatives in the past month, but is still yet to fill gaps in senior management created by recent departures.