Articles by FX Markets Staff
RBS launches new forex index
LONDON - RBS launched FX Radar Index, an automated index linked to 20 emerging market currencies, on October 1.
Iosco turns spotlight on commodities
WASHINGTON, DC - The US Commodity Futures Trading Commission (CFTC) and the UK Financial Services Authority (FSA) are to lead an international regulators' group overseeing the commodity markets.
Dealers report liquidity still 'patchy'
LONDON & HONG KONG - Global foreign exchange markets continued to suffer from lapses in liquidity in another week plagued by turmoil in the financial markets.
EM currencies will weather the storm
LONDON - Analysts at Barings and State Street Global Advisors (SSgA) expect emerging market (EM) currencies to continue on a trajectory of strength, despite suffering bouts of weaknesses amid the current market turmoil.
Saxo Bank cuts 400 jobs
COPENHAGEN & LONDON - Saxo Bank is today (September 29) shedding up to 400 jobs globally as part of plans to streamline its business, officials tell FX Week .
Dresdner heads take top jobs at merged bank
LONDON - Commerzbank has reportedly named Dresdner Kleinwort's Eddie Listorti as head of fixed income and Stefan Gütter as head of sales, in a crucial step in the formation of the newly merged German dealer.
Barclays launches forex trend index
LONDON - Barclays Capital launched the Barclays Adaptive FX Trend Index last week, the latest in its range of investable foreign exchange indexes.
FXPB versus CCP put to the test
With concern over counterparty credit risk at such elevated levels, some question what this will ultimately mean for the smaller banks out in the market-place.
WisdomTree adds EM ETFs
NEW YORK - WisdomTree, a New York-based guarantor, is set to introduce 25 new currency exchange-traded funds (ETFs), with a focus on emerging market currencies, as it continues to deepen its footprint in this market.
LatAm head leaves RBS
NEW YORK - Alistair Boyd, head of Latin American local markets at the Royal Bank of Scotland (RBS) in New York, has left the bank, according to sources close to the matter.
Margin FX boss Pryor leaves Cantor
LONDON - Steve Pryor, formerly director of margin foreign exchange at Cantor Fitzgerald Europe in London, has left the company.
OTP in USD/RUB first
MOSCOW - OTP Bank conducted its first USD/RUB trade as a market maker on LavaFX last Monday (September 22), with Dresdner Kleinwort as its prime broker.
Forex hedging up in US
NEW YORK - Foreign exchange hedging ratios for 2009 year-end by US corporates reached historic levels in the third quarter, as companies sought to cover rising risk from the US dollar's upturn.
ODL acquires Fixi's clients
LONDON - ODL Securities has acquired the full client list of London-based investment house Fixi, a senior official at ODL has told FX Week .
Icap's NDFs trading down but not out
SINGAPORE - Current market volatility is hurting non-deliverable forwards (NDF) trading on Icap's electronic spot-broking system EBS, but the broker is optimistic about the development of this market.
Senior Lehman Brothers Asia staff keep their bonuses
HONG KONG - Nomura has agreed to guarantee the 2008 cash bonuses of at least 300 of Lehman Brothers' senior managing directors and vice-presidents in Asia working in fixed income, structured products and credit, said industry sources.
EPFR tests EM forex flows
BOSTON - Fund flows data vendor EPFR Global is testing a new dataset that shows money flows into and out of emerging market (EM) and global currencies.
NAB grows structured products in Asia
SINGAPORE - National Australia Bank's investment bank, nabCapital, has hired Peter Zeitsch as a director to build a structured products business in Singapore.
JPM offers new FX platform
LONDON - JP Morgan last week launched MorganDirect, a new proprietary foreign exchange trading platform that will eventually replace the incumbent JPex system.
Citi gains BoC Hong Kong for CLS
HONG KONG - Bank of China (Hong Kong) (BoC HK) has signed an agreement to use Citi's Global Transaction Services as its continuous-linked settlement (CLS) nostro agent for US dollar.
IG buys 87.5% of FXOnline Japan
TOKYO - IG Group, a London-based spread-betting company is acquiring an 87.5% stake worth about $207 million in Tokyo-based margin foreign exchange trading company FXOnline Japan.
Nomura rumours abound
LONDON - Nomura International was speculated to be in talks to buy the fixed-income divisions of Lehman Brothers, including the US dealer's foreign exchange operations last week.