Articles by FX Markets Staff
Commodities drive client FX
LONDON – Banks are reporting growing business from clients needing structured FX and commodities solutions. The growth of commodity trading adviser (CTA), private banking, hedging and investor interest in FX is helping to boost demand, said bankers in…
NAB director resigns
Catherine Walter, the National Australia Bank (NAB) director who criticised a report into the bank’s forex options trading scandal, resigned last week.
State Street ramps up in Asia
HONG KONG – State Street is hiring staff in Asia-Pacific in a bid to win more institutional business in the region.
Data sets tone for firmer dollar
NEW YORK – Much stronger than expected economic data from the US last Friday has set the tone for a firmer US dollar this week – potentially putting an end to the nervousness that has kept some clients out of the market in recent days.
Tullett plans new data launch
LONDON – Tullett Financial (TF), the data sales arm of broking group Collins Stewart Tullett (CST), is readying the launch of a new currency data product for June.
Solving investment problems with forex
An asset manager may look to euro/Swiss franc and euro/sterling structures to take advantage of investor uncertainty, says David Durrant, chief currency strategist at Julius Baer Asset Management International in New York
S&P rates Calyon AA-
PARIS – Rating agency Standard & Poor’s has given Calyon Corporate and Investment Bank (formed on April 30 following Crédit Agricole Indosuez’s acquisition of Crédit Lyonnais) an AA- long-term counterparty credit rating.
Big three banks share derivatives spoils
LONDON – Citigroup, Deutsche Bank and UBS shared the spoils in FX Week sister publication Risk magazine’s client rankings, published this month.
Martin Wiedmann leaves UBS
ZURICH – The departure of Martin Wiedmann from UBS in Zurich last week sparked a guessing game among his peers over which bank he is set to join.
ABN Amro Q1 figures show return to form in forex
AMSTERDAM – ABN Amro has seen a return to form in forex, with a year-on-year rise of 47% in its Q1 FX dealing income, published last week.
ACI expects 1,200 delegates in London
LONDON – Forex industry body ACI is expecting 1,200 attendees for the European congress in London later this month, said Robin Poynder, chairman of the congress organising committee.
GFT ramps up for institutions
ADA, MICHIGAN – Futures commission merchant Global Forex Trading (GFT) is expanding its institutional business with an aggressive recruitment drive for another new office.
Tullett reshuffle: Collins out
LONDON – Broker Tullett Liberty’s chief executive Bruce Collins left the firm at the end of April, amid rumours of board dissatisfaction with the firm’s performance in London.
Options staff hotly pursued
LONDON – Currency options traders are finding themselves hotly pursued, as a series of high-profile moves around the world has set off a chain of demand.
Dresdner hires six hedge fund dealers
LONDON – Dresdner Kleinwort Wasserstein has hired six hedge fund sales dealers in London, in a move a bank official described as a "significant strengthening" of its platform for the hedge fund community.
Corporates and banks still behind on IAS 39
LONDON – With the January 2005 implementation date for accounting standard IAS 39 fast approaching, corporates and financial institutions are still behind in their preparation, according to a recent survey carried out by Reuters and FX Week ’s sister…
An average rate option to protect the budget
As euro/dollar continues its descent, Rabobank’s corporate sales desk in Utrecht suggests one way for European corporates to profit from the move
Political upheaval nears the endgame
The next two to six weeks in Poland will be very important for the medium-term outlook of the Polish zloty and indeed the entire country, says Daniel Katzive, FX strategist at UBS in New York
CME FX up 50%
CHICAGO – The Chicago Mercantile Exchange last week said FX volumes were up 50% year-on-year in Q1 to 188,000 rounds per day, while revenues for forex rose 43% to $21 million.
Fairex eyes Chinese banks
SHANGHAI – Singapore-based e-FX technology vendor, Fairex International Financial Systems, is trying to win more bank clients in China through a new scheme set up by the Singapore government.
ERM smooth says HKMA
HONG KONG – Hong Kong’s linked exchange rate mechanism worked "smoothly" last year, although the Hong Kong dollar strengthened "markedly" in Q4, the Hong Kong Monetary Authority (HKMA) said last week.