Articles by FX Markets Staff
FX is platform for growth at Merrill
NEW YORK -- Merrill Lynch’s investment in foreign exchange will form a platform for growth for the US investment bank, said chairman and chief executive Stanley O’Neal last week.
IFX loses foreign exchange head
LONDON -- Ongoing restructuring at financial trading and spread-betting firm IFX claimed another staff departure last week, with the exit of head of FX Peter Romilly.
Cancellable forward beats dollar pendulum
Cancellable forward contracts offer corporates a cheap way of protecting against volatile dollar receivables says Anders Kjaer Jensen, FX strategist at Nordea in Copenhagen
US salaries moderately up
NEW YORK -- FX dealers in the US saw slight increases in their wages this year, according to a new salary survey out this month.
NAB report: managers axed
FX head and three executives leave NAB in wake of report on forex losses MELBOURNE -- National Australia Bank (NAB) sacked head of FX Gary Dillon on Friday (March 12) after he was criticised by PricewaterhouseCoopers’ independent report into the bank’s A…
US election to highlight Asian intervention issues
BEIJING -- As the US presidential race picks up, campaigning will inevitably highlight US opposition to Asian currency intervention. But analysts interviewed by FX Week disagreed on the impact this added pressure would have on the ground in Asia.
FXpress switches architecture
BALA CYNWYD, PA -- A new version of vendor FXpress’ exposure management and trading platform will enable corporate users to share position-keeping information with their remote offices via the internet.
Banks add NDFs to e-trading tools
LONDON -- Royal Bank of Scotland, Barclays Capital and Standard Chartered are planning to launch electronic trading of non-deliverable forwards (NDFs) this year, chasing market leaders in the field such as Dresdner Kleinwort Wasserstein and Deutsche Bank.
SuperD adds 10 European banks
LONDON -- Ten more banks in Germany and Austria have started using SuperDerivatives’ FX options pricing system, the vendor said last week.
Busy start to year sets records on EBS
LONDON -- The start of 2004 has proved to be the busiest in the past 10 years, according to spot broker EBS.
Deutsche reshuffles ICG in Asia
TOKYO -- Deutsche Bank has made management changes to its institutional client group (ICG) in Asia and Australia.
Gartmore leads new hedge fund launches
LONDON -- Gartmore Investment Management has added to the recent explosion in currency funds with the launch of a new hedge fund. The fund, available to institutional investors around the world, builds on the firm’s 16-year track record in currency…
HSBC takes central bank on CLS
LONDON -- HSBC has implemented the first central bank on CLS, it said last week.
Hotspot and Saxo add MNI FX news
NEW JERSEY -- Hotspot FX and Saxo Bank both announced the addition of free FX news and analysis from New York-based Market News International (MNI) to their trading platforms last week.
Dual currency forwards to the rescue
Dual currency forwards can offer tangible benefits if used wisely, says Standard Chartered’s Charlie Brown, global head of structuring in London, and Michael Image, structurer for Northeast Asia, in Hong Kong
Corporates behind in IAS 39-compliant systems
LONDON -- Corporates and vendors have been slow to adapt to the new technology needed to effectively manage their treasury businesses under upcoming accounting standards IAS 39, senior officials said last week.
Pronet offers outsourced technical analysis
LONDON -- UK-based FX analysis firm Pronet Analytics is offering a research outsourcing service to up to three banks, to provide them with on-demand, bespoke responses from the firm’s technical team.
Centradia userbase doubles
LONDON -- The growth of financial institution and asset manager clients using European multi-bank portal Centradia has fuelled rocketing volumes and client numbers on the platform, said chief executive Fabrice Mativat last week.
