Articles by FX Markets Staff
CME and Reuters pool liquidity
LONDON – Trading systems vendor Reuters and the Chicago Mercantile Exchange are bringing together their pools of buy-side and sell-side liquidity in what may be the first move towards an exchange model for the FX market.
Westpac makes Singapore inroads
SINGAPORE – Westpac has hired Henry Young as head of Asian institutional FX sales, based in Singapore, as part of an expansion of the bank’s FX business in the region. Young, who starts at the Australian bank in mid-June, joins from Barclays Capital in…
Election jitters
A tight presidential race could spell trouble ahead for the US dollar, says Peter Luxton (right) global markets adviser at Informa Global Markets in London
ABN Amro AM launches new currency products
AMSTERDAM – ABN Amro Asset Management (AAAM) is launching two new currency products for institutional investors and high-net-worth clients.
Collins Stewart to buy Prebon
LONDON – Broker Tullett Liberty’s parent company, Collins Stewart Tullett, is buying rival Prebon Yamane, it confirmed last week. The firm said it does not intend to merge the two brokers, or close any desks as a result of the deal. Instead, each desk…
Oil troubles yen forecasting
Yen was the most troublesome currency to forecast throughout May, as the soaring cost of oil hit oil consumer Japan’s unit – and with it, yen forecasting accuracy.
ACI Congress debates future
LONDON – The European forex community gathered in London last week for the ACI European Congress hosted by ACI UK. Among the contentious issues discussed during the three-day event were operational risk, the future of the European Union and trading in…
CLS is 'changing the front-office'
LONDON – The continuous-linked settlement (CLS) service for FX trades has changed credit and trading practices among the majority of its users, reveals research from IT consultancy TowerGroup to be published this week.
Congress rise slows Indian rupee ascent
MUMBAI – The success of the Congress Party in the recent Indian elections sent tremors through the FX market last week, and may have a longer-term negative impact on the world’s largest emerging currency market.
Dresdner returns to Japan
TOKYO – Dresdner Kleinwort Wasserstein has re-launched FX sales in Tokyo after an absence of more than two years.
Hedge funds using more leverage, says Greenwich
Greenwich, CT – Almost a third of 36 hedge funds surveyed by research company Greenwich Associates increased their use of leverage in the past year.
ACI European Congress: exhibition preview
Delegates at the seventh ACI European Congress this week will have plenty to keep them busy, as vendors and banks line up a vast array of product demonstrations and promotions.
Tullett starts e-delivering data
LONDON – Tullett Financial, the data sales arm of broking group Collins Stewart Tullett, has started delivering data over the internet in a bid to win more small clients.
Rocketing oil price dominates currencies
LONDON – The rocketing price of crude oil is continuing to dominate the currency markets, propping up the currencies of oil producers while hitting oil consumers hard.
Bank One casualties emerge
LONDON – The first casualties from JP Morgan Chase’s upcoming purchase of Bank One – due to complete on July 5 – emerged last week with the news that both the Chicago-based bank’s FX heads in London are leaving.
GFI white-labels options pricing
LONDON – Inter-dealer broker and market data firm GFI Group last week announced its first white-label deal for Fenics FX Online, the web-based version of its flagship forex options pricing, analytical and revaluation system.
Misys and Currenex link for STP
NEW YORK – UK systems provider Misys Wholesale Banking Systems and multi-bank FX trading portal Currenex have formed an alliance to provide clients with straight-through trade processing from execution to confirmation and settlement.
Calyon to expand research
LONDON – Calyon is aiming to expand its currency and macro strategy team, following the merger last month of Crédit Agricole Indosuez (CAI) and Crédit Lyonnais (CL).
The one-year physically settled average rate forward
Capping and flooring a daily cable fixing rate offers a UK corporate with US dollar receivables an attractive risk/reward profile for zero premium, says Selene Chong, of HSBC’s FX structuring team in London
Bear adds for 24-hour sales
LONDON – Bear Stearns has added to its London-based sales team in an effort to improve overnight liquidity at the 24-hour centre, an official told FX Week .