Articles by FX Markets Staff
SG takes Traiana to boost sales
NEW YORK -- SG Corporate & Investment Banking has taken Californian vendor Traiana’s Trading Relationship Management (TRM) and Harmony software as part of its efforts to boost its global institutional FX sales business.
Commodities boost volumes on BarCap’s forex platform
LONDON -- Barclays Capital has enjoyed increased foreign exchange volumes on its white-labelled e-trading platform as a result of adding commodities earlier this year, a senior official told FX Week .
Scandinavian banks look east
STOCKHOLM -- Scandinavian banks are expanding emerging markets teams in Europe and Asia as they seek to upgrade non-Scandi forex in preparation for the anticipated disappearance of the Swedish and Danish crowns.
HICP may delay rate rises
LONDON -- The move to the HICP [harmonised index of consumer prices] measure of inflation in the UK could lead to a more relaxed policy stance by the Bank of England Monetary Policy Committee, analysts said last week.
Top banks sign up for GFI’s options revaluation fixings
NEW YORK -- JP Morgan Chase, Bank of America, Deutsche Bank and Bank of Montreal are all using inter-dealer broker and market data vendor GFI’s FX option revaluation fixings, GFI said last week.
JPMorgan Fleming to launch FX fund
LONDON -- JPMorgan Fleming will launch a fund in February based on research produced by parent group JP Morgan Chase.
Lack of IT raises cost of processing options
LONDON -- The transactional processing cost of spot FX is falling, but a lack of systems investment means the cost of processing currency options remains flat this year, according to the third annual survey of banks by London-based risk management…
Aussie dollar nears its cyclical peak
The Australian dollar’s rally is almost over and investors should look to take profits or reduce long positions in the coming months, says Karen Pringle, senior currency strategist at ANZ Investment Bank in London.
Goldie-Morrison files claim against BoA
NEW YORK -- Duncan Goldie-Morrison, former head of Bank of America’s debt financing and foreign exchange client business, and a pioneer of the derivatives business from the late 1970s, has filed a $7.3 million claim against his former employer with the…
FXall breaks volume record
NEW YORK -- Growing institutional use of FXall helped the multi-bank portal set a new volume record in November, it announced last week.
Market eyes fresh dollar falls
LONDON -- Forex market analysts and traders are predicting fresh falls for the dollar in the coming months after euro/dollar hit successive record highs last week.
New corporate sales models emerge
LONDON -- The need for banks to offer one sales contact for services across asset classes has been widely recognised this year. But some have gone one step further by adding a sector-specific focus.
The ratchet structure: improving with the market
With more complex options available and increasing customer sophistication, strategies in vogue are changing swiftly. David Popplewell and Richard Summerbell in RBS’s FX options structuring group in London say they are seeing a distinct shift in…
Hotspot live on Bloomberg
NEW JERSEY -- Hotspot FXi, the New Jersey-based online institutional FX trading platform, goes live today with streaming spot prices on Bloomberg terminals.
BNP Paribas adds in Paris
PARIS -- BNP Paribas has added two dealers to its institutional foreign exchange sales team in Paris in an effort to increase market penetration in the area, a spokesperson for the bank told FX Week.
BoA/Fleet management decisions due in January
BOSTON -- Bank of America (BoA) and FleetBoston Financial will decide on the management of their merged forex operation in January, according to a senior official. Angelo Evangelista, head of FX sales and advisory at Fleet in Boston said that while there…
Sars ‘rebound’ boosts HK dollar
HONG KONG -- The recent strengthening of the Hong Kong dollar is due to government policies encouraging economic co-operation between Hong Kong and mainland China and the ‘rebound’ from the Sars outbreak, claims a Hong Kong Monetary Authority (HKMA)…
NFA lifts emergency action against COESfx
NEW YORK -- Regulatory body National Futures Association (NFA) lifted an emergency enforcement action against New York-based electronic currency network COESfx on December 3.
FSA warns over complex products
LONDON -- Financial Services Authority (FSA) chairman Callum McCarthy has warned of the dangers of banks selling complicated financial products to customers who do not fully understand them.
CME reports November uptick
CHICAGO -- The Chicago Mercantile Exchange (CME) last week reported increased year-on-year foreign exchange volumes for November, citing further growth on its electronic trading platform Globex as a key driver.