Articles by FX Markets Staff
CME e-ratio exceeds 50%
CHICAGO -- The Chicago Mercantile Exchange's (CME) ratio of electronically traded FX trades is increasing rapidly every month, senior CME officials told FX Week .
Reduced capital requirements boost brokerage prospects in Hong Kong
HONG KONG -- Companies offering leveraged forex brokerage services in Hong Kong should brace themselves for an influx of competition. New players are being enticed into the market by reduced capital requirements for firms wishing to offer leveraged…
SEB globalises options
STOCKHOLM -- Swedish bank SEB has globalised FX options in anticipation of Sweden's entry into the eurozone.
GFI targets corporates for options pricing
LONDON -- New York-based interdealer broker GFI Group today (June 16) launches a new online FX option pricing service targeting corporate firms and lower-volume FX users.
Royal Bank of Scotland hires financial markets head in Italy
ROME -- Gianfranco Mattei joined Royal Bank of Scotland (RBS) last Monday (June 9) as head of its Corporate Banking and Financial Markets (CBFM) business in Rome.
Euro pauses for breath as risk appetite wanes
LONDON -- FX traders had a chance to regroup last week following months of volatile dollar declines and new highs for the euro.
Ulster Bank reorganises financial markets structure
DUBLIN -- Dublin-based Ulster Bank has reorganised its Corporate Banking and Financial Markets division (CBFM) in light of the imminent departure of Declan O'Neill, head of financial markets and group treasurer later this month, a senior bank official…
US dealers revise op risk standards
NEW YORK -- The Foreign Exchange Committee, a 20-dealer industry liaison group to the New York Federal Reserve Bank, has made new recommendations for the exercise of in-the-money FX options in a revision of its 1996 forex op risk best practices document…
Twist issues commercial payments requirements
LONDON -- Integration standards body Twist (the Treasury Workstation Integration Standards Team) has issued requirements for a range of XML-based messages to automate commercial payments processing for banks and their clients.
JPMC demos new risk tool
BOSTON -- JP Morgan Chase last week demonstrated its new risk management service, MorganRisk, at FX Week sister publication Risk magazine's ninth annual Risk USA conference in Boston.
Reduced capital requirements boost brokerage prospects in Hong Kong
HONG KONG -- Companies offering leveraged forex brokerage services in Hong Kong should brace themselves for an influx of competition. New players are being enticed into the market by reduced capital requirements for firms wishing to offer leveraged…
Banks counter IAS39 threat
LONDON -- Banks are developing new structuring models for corporate clients to ensure the IAS39 accounting standards do not result in a reduction of complex FX hedging activity.
FX Online Japan grows
TOKYO -- FX Online Japan has signed up 35 customers to use its internet-based retail FX trading system, since the company launched in April. James Gow, managing director and co-founder of the firm, told FX Week that he expected to "pick up around 20…
OCC reports earnings uptick for US banks
WASHINGTON -- US commercial banks' revenues from FX positions increased by $220 million year-on-year, to $1.4 billion in Q1 2003, said the Office of the Comptroller of the Currency (OCC) last week.
BJB expands FX emerging markets
NEW YORK -- Bank Julius Baer has hired Daniel Sigler, an emerging markets foreign exchange options specialist in New York, as part of its emerging markets FX expansion.
JPMC expands UK forex
LONDON -- JP Morgan Chase has made three new hires to its London FX team over the last month as part of its continued growth strategy in Europe, a senior official told FX Week .
Sars leaves FX untouched
HONG KONG/TORONTO -- Despite fears that the Sars outbreak would affect volumes and markets globally, the forex industry escaped the crisis unscathed.
Trema revenues rocket
MONACO -- Swedish FX technology vendor Trema reported a 17% rise in revenues for 2002 last week on the back of the increasing dominance of the central-banking market.
Cashflow control for pension portfolio hedges
Neil Record, chairman and chief executive officer of Windsor-based currency overlay manager Record Currency Management, offers a solution to an FX-related problem facing a UK pension fund
ACI/ICA link-up welcomed
BEIRUT -- Forex vendors last week welcomed the decision by ACI -- The Financial Markets Association to combine its global forex congress with the InterArab Cambist Association (ICA) congress in Beirut, Lebanon.