Articles by FX Markets Staff
Merrill takes Reuters/AVT
NEW YORK -- Merrill Lynch has gone live with Reuters’ bank-to-customer FX trading technology, in what marks the UK vendor’s first sale since it merged its B2C unit with AVT Technologies last December.
Ideaglobal makes Thrush COO
LONDON -- Market data firm Ideaglobal has named Paul Thrush, Barclays Capital’s former global forex chief, as its chief operating officer, based in London. He had been on the firm’s executive board since last November ( FX Week , December 2).
Volkswagen steps up currency hedging
WOLFSBURG -- European car manufacturer Volkswagen (VW) has increased its use of FX hedging, after seeing its profits in the first half sink by 55% year-on-year, as a result of euro strength.
Banks eye buy-side dealers
LONDON -- Banks are increasingly looking to recruit staff from the buy side in an effort to satisfy their asset management clients.
Currenex targets retail with ESP
LONDON -- Currenex is targeting the retail forex market with its new executable streaming prices (ESP) technology, in a move that marks a repositioning in strategy for the multi-bank platform.
Central Europe sees shift in fortunes
BUDAPEST -- Economic fortunes have been changing in central Europe, possibly more so than markets have recognised, said FX strategists at Merrill Lynch.
Options software boosts exotics appetite
LONDON -- The use of independent FX options pricing software by corporates may have narrowed banks’ margins, but it has given a substantial boost to the exotics market, banks told FX Week .
Fourth quarter boom for FX
LONDON -- Continued market volatility looks set to boost FX in Q4, senior bank officials told FX Week .
Dealing for charity
LONDON -- Many City dealers globally will donate a percentage of their day’s profits to London-based charity Children in Crisis (CIC) on September 18.
Aussie’s halcyon days are not over
The Australian dollar’s strong rise in the first half of the year may have fallen off, but that does not mean its best performance is behind it, says Michael Jansen, market strategist at National Australia Bank in Sydney
JP Morgan Chase to launch white-label forex platform
NEW YORK -- JP Morgan is planning to launch a white-label FX trading platform before the end of the year, becoming the latest entrant in this rapidly developing market.
PHLX set to launch cash-settled futures contracts
PHILADELPHIA -- The Philadelphia Stock Exchange (PHLX) will launch cash-settled FX futures contracts next month, subject to CFTC approval, a senior PHLX official told FX Week .
RJ O’Brien launches online FX
CHICAGO -- Futures broker RJ O’Brien will launch online spot FX trading using a white-labelled platform from Michigan-based firm Global Forex Trading (GFT) by the end of this month, a senior official at the Chicago-based firm told FX Week .
Market mourns loss of Model Code author
Denis Nolan, author of the ACI’s Model Code, died at home in county Cork, Ireland on July 20 2003, following a long battle against cancer.
HSBC cuts in emerging FX
LONDON -- UK-based bank HSBC has cut about 10 European emerging markets positions in London, as part of a decision to move the management of those currencies back to their local centres, a senior official told FX Week .
Asian intervention tops G7 agenda
DUBAI -- Japanese and Chinese manipulation of the FX market will top the US agenda at this week’s meeting of the Group of Seven leading industrial nations in Dubai, analysts said. The US could shoot itself in the foot, however, as China and Japan are…
Banks facing shortage of German FX sales dealers
LONDON -- Banks seeking to build their institutional FX sales business for German clients are facing a shortage of high-quality personnel, bank officials and recruitment consultants have told FX Week .
Jobs to go in MMS/MCM merger
LONDON -- Job cuts at forex market commentary providers MMS International and MCM are "inevitable" as a result of UK publishing group Informa’s $37 million acquisition of MMS International last week, officials told FX Week .
Middle East lures FX firms
BEIRUT -- The potential for growing business in the Middle East has this year brought two new firms to industry body ACI’s annual congress, which was held in Beirut last week.
The hedge that lets you ride the wave
David Faller, Chicago-based head of FX options at BMO Financial Group in Chicago, and Evan Steed, FX options trader in Toronto, suggest a cost-effective hedging strategy to enable a Canadian exporter to fully hedge 12 months of equal US dollar…
Centradia branches out
BEIRUT -- European multi-bank trading platform Centradia aims to branch out into the Middle East, said officials at part-owner SG, which marketed the tool at the ACI Congress in Beirut last week.