Articles by FX Markets Staff
Vol surge expected from east Europe
WARSAW -- Political events in countries slated to join the European Union and the euro are set to trigger a wave of FX volatility in emerging European countries, market participants told FX Week .
BarCap rebuts Buffet’s warning on derivatives
LONDON -- Robert Diamond, chief executive of Barclays Capital last week hit back at comments made by US investor Warren Buffett, who said earlier in the week that derivatives were "weapons of mass destruction, carrying dangers that, while now latent, are…
After feast comes famine for the dollar
The US dollar may have been feasting on inflowing money in recent years but, says Pete Luxton, global economic adviser at MMS International in London, it is now going hungry
Verdict due on Beirut meeting
BEIRUT -- The fate of the global forex industry’s biennial meeting, due to take place in Beirut in just two months, will be decided on March 17.
Bush war stance sinks dollar
NEW YORK -- The US dollar slid to a four-year low against the euro last week, as US president George Bush’s stance over Iraq continued to harden.
Tullett remains silent on resurfacing race charges
LONDON -- Brokerage firm Tullett last week refused to discuss the departure of a London spot forex broker alleged to have left the firm at the end of February over a racist comment made to a colleague.
Merrill nabs Goldman dealers
LONDON -- Merrill Lynch in London has hired four European corporate risk managers from Goldman Sachs, the bank announced last week.
Bloc boosting
Rising commodity prices and high yields have boosted the ‘dollar bloc’ currencies, and the trend is set to continue, says David Mozina, head of G10 FX strategy at Banc of America Securities in New York
CME launches CME$Index futures contract
CHICAGO -- The Chicago Mercantile Exchange (CME) launches its new ‘CME$Index’ futures contract, an index of seven foreign currencies against the US dollar, today (March 3). The contract is intended to provide end-users with a broad tool to gain or reduce…
Economy buoys UK banks’ forex vols
LONDON -- UK banks have managed to avoid the widespread year-on-year downturns in foreign exchange revenues suffered by their US counterparts, financial reports revealed last week.
Bank One takes MarginMan
CHICAGO -- Foreign exchange traders at Chicago-based Bank One are now using MarginMan, a collateral-management software system from California-based Integral Development.
Citi triumphs in Asian CLS
TAIWAN -- Citigroup appears to be winning the battle for third-party CLS business in Asia. The bank last week signed up its fourth client in Taiwan alone -- Bank of Kaohsiung, which now joins Union Bank of Taiwan and two other un-named Taiwanese banks as…
Lehman bags Merrill’s Bernal to lead money manager sales
NEW YORK -- FX heavyweight Mike Bernal joined Lehman Brothers in New York last Monday (February 26). He joins in a new position managing all marketing efforts for money managers in foreign exchange, said a spokesperson at Lehman Brothers in New York.
SuperDerivatives adds Koram Bank
LONDON -- FX options pricing vendor SuperDerivatives has added Koram Bank of South Korea to its growing client list, the firm said last week.
Job moves afoot in London as bonus season wraps up
LONDON -- As the bonus season draws to a close, the number of high-profile London FX professionals set to move jobs is about to soar, market participants and recruiters told FX Week .
Local presence vital for LatAm FX success
BUENOS AIRES -- Banks in Europe may be centralising FX trading activity in one regional centre, but the opposite is required in Latin America, senior bankers told FX Week .
GCI adds online clients and volumes
BELIZE -- Online broker GCI Financial has added institutional FX customers to its mainly retail client base, a senior official at the firm in Belize told FX Week .
Rand reverses 2001 downtrend
JOHANNESBURG -- Interest rate yields, gold prices and a budget announcement powered the South African rand to a 20-month high against the dollar last week.
Asian forex still untapped
SINAGPORE -- Five years on from the Asian financial crisis, FX trading opportunities in the region remain largely untapped, market participants told FX Week .
MMS relaunches technical pages
LONDON -- FX and fixed-income research and analysis firm MMS International is re-launching its FX Technical Pages.
CMS Forex launches e-FX platform
NEW YORK -- New York-based broker Capital Market Services Forex (CMS) aims to add 1,000 retail FX clients in the next six months with a new online spot FX trading platform.