Articles by FX Markets Staff
HVB to shift global FX sales head to London
LONDON -- German bank HVB's global head of FX sales, Bob Mills, will transfer to London this month as part of a forex reorganisation, the bulk of which was completed in 2002.
Rabobank to change credit lines post-CLS adoption
UTRECHT -- Rabobank is to change its FX credit lines to differentiate between members and non-members of the Continuous Linked Settlement (CLS) service, a senior official at the bank told FX Week .
A new crystal ball
Second-guessing the Federal Reserve is getting more complicated as the central bank enters uncharted territory, says Lara Rhame, FX economist at Brown Brothers Harriman in New York
SEB takes NFS treasury trading link
STOCKHOLM -- SEB Merchant Banking has taken technology from Nordic Financial Systems (NFS) to enable its corporate clients to execute FX transactions via their own treasury management systems.
SuperDerivatives launches new options pricing service
LONDON -- FX options pricing vendor SuperDerivatives has launched a new version of its benchmark FX options pricing system, the firm will announce this week.
Sterling traders sidestep UK euro adoption issue
LONDON -- Uncertainty continues to surround the timing of possible euro adoption in the UK, but sterling traders are unlikely to suffer, whatever the outcome.
Bangladesh looking to float the taka
DHAKA -- The Bangladeshi taka could move to a managed float from a crawling peg at the beginning of June, market participants told FX Week .
Intra-day volatility returns
LONDON -- Trading desks buzzed with the return of intra-day volatility to the markets last week, as the euro sailed over its launch price of 1.175 against the dollar.
The FX week ahead
(all times GMT)
Gulf currency by 2010, say Saudis
RIYADH -- A common currency for Persian Gulf countries could be a reality as early as 2010, according to officials from the Saudi Arabian Monetary Agency (SAMA).
Icap to broker parimutuel derivatives
NEW YORK -- Icap is set to broker the parimutuel auction-based economic derivatives jointly developed by Deutsche Bank and Goldman Sachs. It will offer the full range of economic derivatives, including vanilla and digital options and forwards on the US…
ACM aims for money managers
GENEVA -- Online FX trading firm AC Markets is hoping to increase its money manager client base with the launch of a new trading platform, a senior official at the firm told FX Week .
Carr Futures to close London FX
LONDON -- Carr Futures, Chicago-based institutional brokerage firm and part of Credit Agricole Indosuez, is closing its London FX desk on June 1 to form one 24-hour desk in New York.
Global banks winning in Italy
MILAN -- The first survey of Italian derivatives dealers conducted by Risk Italia , the Italian language edition of Risk , found that international banks have a stronghold in the Italian derivatives market. But the results were also encouraging for…
EUR-denominated diesel fuel hedge
There has been a recent trend for corporates to migrate the risk management of their commodity exposure from their procurement to their treasury departments. As the corporate’s risk is centralised, it is managed as part of a portfolio of more standard FX…
Reuters FX under threat EBS-Bloomberg forex alliance prompts defiant response from UK firm
LONDON -- Reuters was last week fighting back to secure its position in FX, following the announcement of an alliance between two rivals.
FX derivatives activity flat but healthy
BASEL -- FX derivatives volumes were relatively unchanged in the second half of 2002, the Bank for International Settlements reported last month.
Tale of two currencies
Recent FX market moves have exposed differing interest rate strategies for the eurozone and the UK, says Lorenzo Codogno (right), co-head of European economics at Bank of America in London
HSBC snares Desselberger
LONDON -- HSBC has hired Deutsche Bank’s head of corporate structured products, Matt Desselberger, to become its new global head of currency options, based in London.
FX investor caution over terror threats
LONDON -- Risk aversion in emerging markets FX has heightened in recent weeks due to increased terror threats and concerns over the success of efforts to rebuild Iraq, analysts told FX Week .
