Articles by FX Markets Staff
Reuters’ Chinese data deal
SHANGHAI -- Reuters has signed an agreement with the China Foreign Exchange Trade System (CFETS) to deliver enhanced financial market information to CFETS’s customers. CFETS, a subsidiary of the People’s Bank of China, offers yuan foreign exchange…
‘No euro target’ for ECB
LONDON -- The European Central Bank has no target level for the exchange rate of the euro, director of monetary policy, Hans-Joachim Klöckers, reiterated at FX Week ’s second annual congress last week.
SG reshuffles management
LONDON -- SG Corporate and Investment Banking (SG CIB) last week announced three senior FX management appointments within the debt finance group of its corporate and investment banking division.
Politics drives Philippine peso
MANILA -- The Philippine peso is likely to weaken in the medium-term, with political factors remaining one of the currency’s main drivers. Market participants in the Asia-Pacific told FX Week that the currency was unlikely to strengthen in the run-up to…
Euro/yen to trend lower
Eurozone competitiveness versus the yen has fallen sharply since a peak in 2001, and the current level of euro/yen is likely to fall again by mid-2004, says Steven Saywell (right), director of currency strategy at Citigroup in London
HSBC reorgs by client sector
LONDON -- HSBC has created six new global positions to manage different client sectors within corporate, investment banking and markets (CIBM). They will co-ordinate strategy and client service teams across all products, including FX.
Tokyo-Mitsubishi’s ‘creativity’ boosts revenues
TOKYO -- Bank of Tokyo Mitsubishi (BTM) has strengthened its position as one of Japan’s top FX providers, with a rise in FX revenues for the first half of the financial year.
Market consolidation ‘not all bad’
Consolidation in the FX market has not adversely affected efficiency or liquidity, Mark Monahan, global head of sales at EBS told delegates at the FX Week congress in London last week.
White-labelling risks in the spotlight
Panelists at the FX Week Congress last week reviewed some of the risks inherent in white-labelling.
Dollar trend drives fund profits
STAMFORD -- The success of models in capturing early trend moves in the dollar drove 57% of currency fund managers in the Parker FX Index to achieve gains in October. But gains were limited, as the index was up only 0.6%.
AIG cuts ahead of integration
GREENWICH, CT -- Recruitment consultants in the US report that up to 70 staff have already left the American Insurance Group as it prepares to integrate subsidiaries AIG Trading and AIG Financial Products.
Caterpillar takes SuperDerivatives
PEORIA, IL -- US construction and mining equipment manufacturer Caterpillar is the latest corporate to implement SuperDerivatives’ options pricing system, the vendor will announce today (December 1).
Non-exporters still have exposure to currencies
Options could be the answer for a manufacturing company facing the twin problems of foreign competitors undercutting its prices and of the companies it supplies being less successful with an appreciating currency. Alex Barrett and Demetri Papacostas, of…
Buy side debates FX as an asset class
The acceptance of FX as an asset class is growing, but some debate still remains, according to a panel of speakers at the FX Week congress in London.
Ex-BoA head joins Icap
NEW YORK -- Duncan Goldie-Morrison joined inter-dealer broker Icap on November 20 as a non-executive director and member of the audit, remuneration and nominations committees.
Icap hires external lawyers over NY fraud allegations
LONDON -- Inter-dealer broker Icap has instructed external lawyers to carry out an investigation into the alleged FX fraud in New York involving three of its Swiss franc brokers.
Hedge funds attract record inflows
NEW YORK -- Hedge funds attracted net new investment of $24.6 billion during Q3, up from $13.8 billion in Q2, according to Tass Research, a unit of Tremont Capital Management.
E-TRADING -- UBS reigns supreme for e-commerce
UBS again took the award for best bank in e-trading in the FX Week Best Banks survey this year.