Articles by FX Markets Staff
Deutsche plans sales hires in Amsterdam
AMSTERDAM -- Deutsche Bank plans to hire up to two additional dealers to its newly merged corporate derivatives sales team in Amsterdam over the coming months, a senior official at the bank in London told FX Week .
Structurer/dealer link deepens
LONDON -- The relationship between structurers and FX sales dealers is becoming increasingly close, officials told FX Week , as banks seek to further improve their client service levels.
FXall adds CLS messaging
LONDON -- FXall is set to go live with its CLS messaging service for third-party banks and asset managers through its Settlement Center, the multi-bank portal will announce today.
Currency option hedging for gold producers
Bill Nagl, Sydney-based head of ANZ Investment Bank’s consultative risk management group, looks at how Australian gold companies can hedge against a strong Aussie dollar
Philippines SEC drafts FX reporting guidelines
PHILIPPINES -- The Philippines’ Securities and Exchange Commission (SEC) last week announced draft guidelines on the preparation of foreign currency-denominated financial statements for corporations in the country.
MoF/BoJ re-enter FX market
The continuing weak economy and the growth differential between the US and Japan will become more pronounced over the course of this month, allowing the dollar/yen to regain the 115 level, say FX strategists Lauren Germain (right) and Uwe Parpart at Bank…
ABN expands in FX trading
AMSTERDAM -- Dutch bank ABN Amro has made two senior hires to its FX trading business, as part of its strategy to increase its trading presence globally, a senior official told FX Week .
CMC expects major growth in Asia-Pacific FX business
SYDNEY -- Online foreign exchange service provider Currency Management Corporation (CMC) expects to double the number of customers for its FX trading services in the Asia-Pacific by June 2004, according to a senior official at the firm.
Forex TV live with Saxo and MNI content
NEW YORK -- Forex Television, a joint venture between RDC Bancorp and eTV-Media, has integrated automated FX news and analysis feeds from Saxo Bank in Copenhagen and Market News International (MNI) in New York, officials at eTV-Media told FX Week .
Sterling to survive Hutton Inquiry
LONDON -- The Hutton Inquiry into the death of UK government weapons inspector David Kelly has had a limited short-term impact on sterling, but could in the long term contribute to the weakening of the government, analysts said last week.
Italians step up FX use
ROME -- Italian corporates have increased their derivatives use over the past 12 months as companies have honed their risk management skills to battle against currency volatility.
RBS hires FX prime brokerage team
CHICAGO -- The Royal Bank of Scotland has hired three FX dealers to run a newly established North American prime brokerage business in Chicago.
China stands firm on peg
BEIJING -- China will continue to stand firm in the face of increasing international pressure to relax the yuan’s peg to the US dollar, analysts in the Asia-Pacific told FX Week .
MMS/MCM merger leads to Asia-Pacific lay-offs
SINGAPORE -- Forex market commentary provider MMS has already started shedding jobs in the Asia-Pacific region as part of its merger with Informa subsidiary MCM, according to a source at the firm.
State St to launch FX fund in fourth quarter
LONDON -- State Street Global Advisors (SSgA), the investment management arm of State Street, is set to launch a currency fund in the fourth quarter as part of its newly created hedge fund strategies group, a senior official at the firm told FX Week .
IASB favours banks, says Treasury Association Group
LUXEMBOURG -- The International Accounting Standards Board (IASB) is favouring the demands of banks and insurance companies over the interests of corporations, the International Group of Treasury Associations (IGTA) said last week.
CME targets online FX market for Asia growth
BEIJING -- Electronic foreign exchange derivatives trading will play a key role in the Chicago Mercantile Exchange’s (CME’s) development in Asia over the next few years, according to a senior official at the exchange.
Reuters to exit Fleet St
LONDON -- UK information and technology firm Reuters is set to move out of its historic headquarters in Fleet Street by the middle of next year, releasing £32.3 million in estate capital and saving about £5 million per year in property costs.
Total return analysis: currencies vs bonds
Establishing the risk and return characteristics of holding a currency position sometimes necessitates presenting a more formal economic interpretation of an FX transaction, says Robert Balan, head of financial market strategies at Saxo Bank in Copenhagen