Articles by FX Markets Staff
UBS ousts Citi from top spot
LONDON -- UBS is the best bank in foreign exchange, according to a poll of nearly 1,000 voters in FX Week’s annual survey of the industry.
E-TRADING -- FXall maintains lead among multi-banks
The outlook for multi-bank FX portals has taken a turn for the better this year with business and trade volumes growing across all platforms.
DERIVATIVES -- UBS and Deutsche Bank share the derivatives spoils in volatile market
In a year of huge growth in FX derivatives -- particularly in options -- UBS and Deutsche Bank are the top providers, according to voters in the Best Banks in FX survey 2003.
TECHNOLOGY -- ABN Amro’s CLS victory
The launch of the Continuous Linked Settlement (CLS) service in September 2002 sparked a whole new industry as shareholder banks saw the benefits of offering CLS settlement to their clients.
EMERGING MARKETS -- Standard Chartered reasserts its dominance in emerging FX awards
Standard Chartered swept to victory in two of the four emerging markets categories this year, walking away with the awards for best bank in Asian emerging currencies and for African and the Middle East.
TECHNOLOGY -- Reuters wins in risk management
Reuters this year snatched the award for best risk management software from Wall Street Systems -- last year’s winner, now in second place.
RESEARCH -- MMS wins again in screen-based analysis
MMS International’s dominance in screen-based analysis continued this year with its eighth consecutive award in the category. That is likely only to increase from next year when it is merged with fourth-placed MCM, the subsidiary of UK publishing group…
RESEARCH -- Top banks dominate research and strategy
The world’s largest banks are dominating the provision of research and strategy as a result of their trade flow data, complementary businesses and their location of economists around the world.
Soft Accumulator: improving hedging levels
BACKGROUND: European importers who need to buy US dollars are not complaining about the current euro/dollar rate of exchange.
ex-Investec FX head joins headhunter
LONDON -- Simon Jaquiss joined headhunting firm Napier Scott Executive Search in London as a senior consultant on FX derivatives, the firm said last week.
Banks confirm plans for Istanbul
ISTANBUL -- Global banks with FX businesses in Istanbul have not changed their security procedures following the suicide bombings in the city last Thursday.
TECHNOLOGY -- Cognotec stays top despite rivals’ merger
In what may be the fastest-moving side of the FX industry, one constant remains: Dublin-based Cognotec won the awardfor best automated dealing technology for the sixth consectuive year, beating off competition from newly-merged rivals Reuters and AVT…
ABN hires Gartmore risk specialist
LONDON -- ABN Amro has added to its FX risk advisory team in London with the addition of James Binney from Gartmore Investment Management. Binney, who joins ABN today (November 24), will partner with Kenrick Ramlochan in London to offer and market…
Reuters adds SuperDerivatives to 3000
LONDON -- Reuters last week added SuperDerivatives’ currency options pricing system to its 3000 Xtra platform as part of its efforts to boost its position in the treasury markets.
RG Niederhoffer launches negative correlation fund
NEW YORK -- New York-based hedge fund manager RG Niederhoffer Capital Management has launched a negative correlation fund to help equity investors take advantage of short-term FX moves.
BROKING -- Specialism key to broking success
The Electronic Broking Service (EBS) maintained its lead in the spot FX broking category again this year, but voice and hybrid brokers were winners in the derivatives categories.
FX scam at top banks exposed
NEW YORK -- A currency trading scam allegedly carried out by five traders at top global banks, nine brokers and three officials at retail FX firms -- including a former member of the Federal Reserve’s FX committee -- was uncovered last week as part of…
CME cuts European fees
CHICAGO -- The Chicago Mercantile Exchange (CME) has slashed transaction fees for all products traded electronically on Globex in Europe, bringing its costs in line with rivals the Chicago Board of Trade and Eurex. However, the cut of 73% to 44 cents,…
E-dealing requires better pricing
Efficiency gains available from technology are being undermined by pricing discrepancies, says Cognotec chairman Brian Maccaba.
BarCap expands sales team
LONDON -- Barclays Capital will hire up to five additional dealers to its UK corporate foreign exchange sales team in London as part of a continued build-up in the area, a senior official at the bank told FX Week .
