Articles by FX Markets Staff
Options use soars, says BIS
BASEL -- FX options business increased by 34% year-on-year in H1, according to Bank for International Settlements statistics released last week.
eSpeed platform hits spot
NEW YORK -- Electronic broker eSpeed's recently launched spot FX platform is already seeing success, it said last week as it published its Q3 results.
A strengthening yen is no barrier to Japan's exporters
A stronger yen isn't proving to be the disaster for Japanese exporters that many predicted. Tohru Sasaki, chief FX strategist at JP Morgan Chase Bank in Tokyo, looks at why a strengthening Japanese currency doesn't necessarily mean decreasing revenues…
Patsystems links to IFX markets
LONDON -- UK derivatives trading software provider Patsystems has formed an agreement with margin FX player IFX Markets to offer users FX trading.
No rate cut to halt loony
OTTAWA -- The Bank of Canada (BoC) is not expected to cut interest rates at next month's rate meeting, despite growing concern over the Canadian dollar's rate of appreciation, analysts said last week.
Yen and the art of market cycle maintenance
The yen resurgence that began this summer is still in play. But with the Japanese authorities still sporadically intervening in the currency markets, this upward path may meet some sharp setbacks. Simon Derrick, head of Bank of New York's currency…
StanChart continues FX build-up in Africa
LUSAKA -- Standard Chartered sold its first Zambian kwacha FX options in October, as part of its continued forex build-up in Africa, senior officials told FX Week .
UBS reaps volatility rewards in third quarter
ZURICH -- UBS achieved year-on-year revenue growth of 22% from foreign exchange in the third quarter, as the bank achieved its most profitable quarter in forex in three years. In addition to improving revenues, UBS said the fixed income, rates and…
Yen move drives fund gains
STAMFORD, CT -- Profits from the widely predicted strengthening of the yen against the US dollar led to 83% of fund managers achieving gains on the Parker FX index for September. As a result, the index was up 1.41% for the month.
Tide begins to turn for cross-border M&A
LONDON -- Cross-border mergers and acquisitions (M&A) activity involving UK companies rose in Q3, according to recent data from the UK Office of National Statistics (ONS). But despite the improvement in UK-specific data, London-based capital markets…
Tax reforms 'could deter corporate hedging'
LONDON -- The UK government's proposals to align corporations' tax more closely with financial accounts could create yet another deterrent for corporate hedging, the Association of Corporate Treasurers (ACT) has warned.
Bumper bonuses expected
LONDON -- Forex bonuses in the new year look set to outstrip 2002 payouts by up to 40%, traders and recruiters told FX Week .
SG CIB takes JRisk for forex
PARIS -- Californian derivatives technology firm Application Networks has sold its JRisk options trading and risk management tool to SG Corporate & Investment Banking (SG CIB) in Paris.
Reuters launches FX forwards in India
MUMBAI -- Reuters last week announced the launch of its forwards FX broking service in India, in what marks the latest development of the country's forex market.
ABN Amro hires ex-JPMC head for European FX push
PARIS -- ABN Amro has hired ex-JP Morgan Chase head Frederic Blondel to spearhead a drive to increase its European corporate business.
4Cast hires MMS analysts
LONDON -- UK financial markets research firm 4Cast has hired two analysts from rival MMS International in London, which was recently bought by UK publishing group Informa ( FX Week , September 15).
ABN index set for Japan debut
LONDON -- ABN Amro's global FX research team has been invited to present its Speculative Position Index (SPI) to Japanese policy officials later this month due to the accuracy of its modelling.
More prime brokers for FXall
LONDON -- Multi-bank FX trading portal FXall has signed a further three banks to its prime brokerage messaging platform prior to its December launch. The enhancement to its Settlement Center service automates the give-up of trade details between the…
Ringgit peg set to hold firm
KUALA LUMPUR -- Malaysia’s new prime minister, Abdullah Badawi, is set to maintain the ringgit’s peg to the US dollar for at least 12 months, according to market participants in the Asia-Pacific. Badawi assumed leadership of the Malaysian government in…