Articles by FX Markets Staff
SG continues sales build-up
LONDON – Francesco Quilici joins SG Corporate & Investment Bank (SG CIB) in London today, May 24, as an analyst supporting Italian FX sales. Quilici will report to Jean-Philippe Castellani, head of FX sales in London, and works alongside Italian sales…
Terrorism threatens Turkish lira
Turkey’s proximity to the worsening situation in Iraq is prompting an outflow of capital and sending the lira spiralling downwards, says Neil Mellor, FX strategist at Bank of New York in London
Dealers dismiss UK euro entry
LONDON – More than a quarter of forex dealers interviewed for an exclusive poll for FX Week think sterling will never become part of the single European currency. Another 10% believe the UK’s entry into the euro is at least another 10 years away – with…
Raising the standard for London
ACI’s European Congress in London this week has been two years in preparation. Robin Poynder, chairman of the organising committee, describes the agonies and ecstasies of staging the forex industry event in the UK capital
EBS opens up prime broker service
LONDON – Spot broker EBS has opened EBS Prime, its FX prime brokerage service, to more banks, following a 20-week pilot programme with prime brokers Deutsche Bank, JP Morgan Chase and The Royal Bank of Scotland, along with 16 pilot customers.
SSiSearch CLS Directory fills up
LONDON – SSiSearch, a vendor of authenticated FX settlements reference data, said last week it has now signed up 41 out of the 53 settlement members of the continuous-linked settlement service (CLS) for its CLS directory.
Banks compete for e-FX talent
LONDON – Dealers combining technological and sales expertise are in short supply as banks compete to secure staff that can aid their success in the growing online FX market.
Swedbank installs new turrets
Stockholm – Swedbank is installing 200 new turrets from US vendor IPC Information Systems for its FX, fixed income and equity trading.
BIS reports FX options surge
BASEL – FX options business increased by a massive 77% year-on-year in the second half of last year, according to Bank for International Settlements (BIS) statistics released last week.
AIB rapped for overcharging
DUBLIN – Allied Irish Banks (AIB) sailed into another forex controversy last week, as it emerged the bank has been overcharging for forex deals for the past eight years.
NAB’s forex losses wipe out trading income
MELBOURNE – National Australia Bank’s entire first-half trading income was wiped out by its FX options losses, the bank’s financial results revealed last week.
Advanced IRB Basel II approach delayed
BASEL – The Basel Committee on Banking Supervision has said that implementation of the advanced internal ratings-based approach (IRB) for credit risk and the advanced measurement approach (AMA) for operational risk will be delayed until the end of 2007…
WestLB live with Hotspot FXi link-up
NEW JERSEY – WestLB in April became the first client to go live with technology vendor Cognotec’s automated link to HotspotFXi.
Traders’ perceptions of market timing
Jeffrey Todd Lins, director in quantitative analysis at Saxo Bank in Copenhagen, discusses the importance of timing in making trade decisions following an economic release
Barclays Capital hires new FX strategy head
LONDON – David Woo will take charge of FX strategy for Barclays Capital in London, effective June 9. He joins from Citigroup, where he was head of local markets strategy for central and eastern Europe, Middle East and Africa, as well as global strategist…
Vendors gather for DWT
LONDON – FX and trading technology vendors are gathering in London this week for the tenth annual Dealing with Technology exhibition.
China to stick with peg
While Chinese officials have hinted a yuan peg change may be imminent, Adrian Foster, FX strategist at Dresdner Kleinwort Wasserstein in Singapore sees change unlikely in 2004
Forwards head leaves Citi
NEW YORK – Head of FX forwards trading Vincent de Lorenzo left Citigroup in New York earlier this month, a source at the bank told FX Week .
What is oil telling us?
The high cost of oil in the US may hit the dollar hard in Q4, says John Taylor, chief investment officer at overlay manager FX Concepts in New York
StanChart hires trading head
LONDON – David Bee is set to join Standard Chartered in June as head of FX trading in London and global head of G10 spot and forward trading.
Reuters reorganises in Asia
SINGAPORE – Reuters has shifted a number of executives to new posts in Asia-Pacific to offer senior employees "new job experiences", it said last week.