Articles by FX Markets Staff
Bomb fails to blast rupiah
JAKARTA -- Last week's bomb blast outside a hotel in Jakarta will have a minimal long-term impact on the Indonesian rupiah, say local market participants.
Participating in rupee options
Following the launch of rupee options trading in India in July, Arun Khurana, head of financial markets distribution & derivatives marketing at ABN Amro in Mumbai, proposes a zero-cost 'participating forward' solution for an Indian client wanting to…
Prebon Yamane goes live with SwapsWire in Tokyo
TOKYO -- Brokerage house Prebon Yamane has gone live with SwapsWire in Asia, making it the first brokerage in Tokyo to use the system since it went live in Japan last July.
Dealers leave Fimat Chicago
CHICAGO -- Fimat, the brokerage arm of French investment bank SG, shed four staff from its US dealing team earlier in August, said sources close to the company.
London broker partners with Gain to launch forex
LONDON -- Electronic broker London Capital Group (LCG) has formed a white-label partnership with New Jersey-based Gain Capital, a trading technology provider and FX market-maker, as LCG expands into forex trading.
Time to sell dollars with bonds
With global demand for savings rising, minimal growth in the savings pool, and shifts in notions of sovereign risk for debtor countries such as the US, it is time to sell dollars, says David Gilmore, partner at FX Analytics in Essex, Connecticut
European struggles may prove positive for the dollar
LONDON -- European economic data released this week could cause investors to turn back to the dollar, despite recent negative sentiment towards it and aggressive selling of US Treasuries.
Revenues up for Singapore's 'big three'
SINGAPORE -- FX revenues have increased year-on-year for the first six months of 2003 at Singapore's 'big three' domestic banks.
UK banks profit on volatility
LONDON -- Active and volatile currency markets helped UK banks to increase profits from foreign exchange dealing, according to interim results announced last week.
Weak dollar hurts Toyota
TOKYO -- US dollar weakness against the Japanese yen has had a negative impact on Toyota's profits, the car manufacturer said last week. In its financial results for the three months to the end of June, the Japanese firm said exchange rate changes had…
Abaxbank builds treasury
Milan -- Abaxbank hired a third new member to its treasury team this year, with the addition of Cinzia Lacopone in FX options last week.
Rabo names new global forex head
LONDON -- Rabobank has named a new global head of foreign exchange, following the departure of Gary Kaye earlier this year ( FX Week , June 23). Paul Harvey moved from his London-based position as global head of central bank sales to manage Rabo's FX…
'Click and deal' key for funds
LONDON -- Providing clients with the ability to trade FX directly from live streaming prices could prove key for banks targeting a range of clients, said e-FX officials speaking last week.
FXTV to launch in September
NEW YORK -- A dedicated FX video news service, Forex Television, is set for launch on September 1, said an official at joint owner eTV-Media, a provider of streaming media services.
'Click and deal' key for funds
LONDON -- Providing clients with the ability to trade FX directly from live streaming prices could prove key for banks targeting a range of clients, said e-FX officials speaking last week.
ACI moves forward to Beirut
BEIRUT -- 'Moving forward' is the theme of forex industry body ACI's global congress, due to be held in Beirut on September 10--14.
Citi hires Deutsche quants
LONDON -- Citigroup in London has hired two FX options specialists from rival firm Deutsche Bank, including head of foreign exchange product development William McGhee, who will start at Citi in the same role in October.
Intervention in Japan likely to continue
TOKYO -- Despite mounting pressure on Japan to stop intervening in the currency markets, the country is unlikely to do so, said analysts last week.
FXCM opens London office
LONDON -- New York-based retail FX trading platform Forex Capital Markets (FXCM) launched a UK office in London on July 8, a senior official at the firm in New York told FX Week .
WestLB hires ex-BoA chief
NEW YORK -- German bank WestLB has hired ex-Bank of America trading head Richard Breslow for the newly created position of FX sales and trading head for North America.
Asia tech hurdle for FX portals
HONG KONG -- Overcoming technological problems has been one of the main challenges facing online multi-bank FX platforms in Asia-Pacific, according to officials at the major portals in the region.
Dollar decline likely to be over for now
Strong US data and stock market resilience point to a halt in the dollar’s decline, says Jesper Dannesboe, chief FX strategist at Dresdner Kleinwort Wasserstein in London