Articles by FX Markets Staff
Fundtech adds two CLS clients
NEW JERSEY -- Two Fundtech clients have extended their use of payments software Payplus for CLS (continuous-linked settlement) to support the growth of their FX businesses.
Dollar volatility rockets over terror fears
LONDON -- Continued terrorist threats are expected to plague the FX markets in the coming weeks, due to a heightened level of concern over further attacks following the Madrid bombing on March 11, analysts warned last week.
Volatility and leverage key for Euro importer
Trading volatility allows a European importer to improve its dollar buying rate and mitigate Asian strengthening says Silash Ruparell in European FX sales at Lehman Brothers in London
Are long-dated options correctly priced?
Options pricing is based on a flawed model of market efficiency. This is why market-makers and hedgers might see the same volatility as cheap or expensive, depending on their viewpoint, says Gilles Bransbourg, head of European FX sales at Bear Stearns in…
Reuters buys remainder of Icor
LONDON -- Reuters has taken over Icor Brokerage's electronic FX options platform, following its announcement last week that it has bought the remaining 50% stake in Icor it did not already own.
EBS sees fruit of 'sustained effort on sterling'
LONDON -- Spot broker EBS last week quantified the success of its initiative to build sterling volumes on its platform.
Seven leave Dresdner in FX flight
LONDON -- Dresdner Kleinwort Wasserstein in London is facing an exodus of staff from foreign exchange, with at least seven leaving the bank in London and New York in the past month.
NAB OPTIONS SCANDAL - NAB crisis deepens with latest departure
MELBOURNE -- The staffing crisis at National Australia Bank (NAB) deepened last week as Peter Cunningham, joint global head of FX left the bank, in a move a NAB spokesperson described as a "mutual agreement".
Investment banks break records
NEW YORK -- This year looks set to be a record-breaker for banks' FX earnings, if the commercial banks follow the lead set by the US investment houses.
Lehman raids Merrill team
LONDON -- Lehman Brothers has raided rival investment house Merrill Lynch for a team of three FX options dealers in London, according to sources close to the bank.
Deutsche names trading chiefs
LONDON -- Deutsche Bank has promoted its London head of FX trading, Gordon Wallace and Singapore manager Nitin Gulabani, to become co-heads of global FX trading.
Portfolio flows and the dollar’s outlook
The pace of the dollar’s decline appears to have returned to more sustainable levels, says Michael Woolfolk, senior currency strategist at The Bank of New York
RJ O’Brien buys Zap Futures
CHICAGO -- Chicago-based futures commission merchant RJ O’Brien has bought online futures firm and introducing broker Zap Futures.
Funds struggle as market trend ends
STAMFORD, CT -- Fund managers struggled to generate returns during January as the trending markets of late 2003 ended. Volatility in the market led to an overall return of only 0.60% for the Parker FX Index, with discretionary funds reporting losses for…
Bronia Jenkins leaves Bank of America
NEW YORK -- Bronia Jenkins left her position as New York-based FX time-zone manager for North America on March 1. A spokesperson at the bank confirmed her departure, but declined to say whether she would be replaced.
SSiSearch adds 10 more for system testing
LONDON -- SSiSearch, a vendor of authenticated FX settlements reference data, said last week that 10 new clients are set to start testing the system, bringing the total number of banks now in trial with its global directory to 275.
800 expected at ACI London event in May
LONDON -- Forex industry body ACI is expecting up to 800 FX officials to descend on London in May for its seventh European Congress, hosted by ACI UK.
Volatility plays havoc with cross-border M&A
LONDON -- Foreign exchange volatility might be offering traders unprecedented opportunities in the currency markets -- but sales dealers are paying for it with the loss of cross-border mergers and acquisitions (M&A) business.