Articles by FX Markets Staff
eSpeed to add spot and forwards forex
LONDON -- Electronic broker eSpeed is adding spot and forwards FX broking to its platform in the second half of this year to cater for traders who cover multiple asset classes.
BoA loses global market head
NEW YORK -- Duncan Goldie-Morrison, Bank of America’s global markets chief will leave the firm at the end of this month following a reorganisation of BoA’s global markets group.
A focus on partnerships
Vision, transparency and communication are key to FX outsourcing partnerships, says Kiril Alexiev, assistant vice-president in Global FX Strategic Alliances at ABN Amro in Chicago
Rusnak lessons still unheeded
NEW YORK -- Global banks are yet to implement key recommendations to limit rogue trading losses, one year on from John Rusnak’s record $700 million forex fraud.
BIS expands derivatives data
BASEL -- The Bank for International Settlements said last week that it is expanding its statistics on banks’ country risk exposures to include data on derivatives exposures to individual countries.
eSpeed to add spot and forwards forex
LONDON -- Electronic broker eSpeed is adding spot and forwards FX broking to its platform in the second half of this year to cater for traders who cover multiple asset classes.
Dollar downtrend halts decline in US hedging
NEW YORK -- The US dollar’s decline in recent months has sparked an increase in hedging activity among US companies, six months after senior FX officials reported that many firms were unhedged.
China forex volumes rise
BEIJING -- Forex turnover in the Chinese market rocketed by 73% in January, according to data made public last week.
Attain uses COESfx to enter FX arena
NEW YORK -- US equities day-trading firm Attain Services has started trading forex, using a new online FX electronic communications network (ECN).
BoA HK focuses on debt capital raising
HONG KONG -- Bank of America has hired Abidin Siregar in a newly created role as head of global markets, Hong Kong. He will cover sales, trading and research, and build the bank’s debt capital raising business across the region.
Heavyweights tackle rising un-named counterparty risk
NEW YORK -- Top FX banks are joining forces with central banks and industry groups to eliminate un-named counterparty risk.
Currency managers up in December
STAMFORD, CT -- The majority of currency managers on the Parker Global Strategies’ FX index saw positive returns in December, according to data from the firm released last week.
Toronto Dominion drives into funds and emerging currencies
TORONTO -- Toronto Dominion Securities is breaking into new markets in institutional FX sales and emerging LatAm and European currencies, a senior official told FX Week .
Analysts mull Iraq FX fallout
LONDON -- With geopolitical tensions continuing to dominate FX markets, analysts are now looking beyond any potential conflict at the possible fallout and its impact on currencies.
Zero-coupon woes for DZ
FRANKFURT -- DZ Bank, the largest central co-operative bank in Germany, has announced e140 million losses from its zero-coupon interest rate swaps positions due to a mis-keying error.
Rabobank invests in Italy’s e-Mid
MILAN -- Dutch bank Rabobank has become the 43rd shareholder in Italy’s e-Mid, which provides electronic markets for treasury products, the firm said last week.
Prosecutor calls for Trichet conviction
PARIS -- Jean-Pierre Bernard, the French state prosecutor in the trial of Bank of France governor Jean-Claude Trichet, said last week that Trichet should be convicted.
DrKW platform adds spot gold
FRANKFURT -- Dresdner Kleinwort Wasserstein (DrKW) has gone live with non-physical spot gold trading on its online trading platform Piranha FX, the bank announced last week.
BoA HK focuses on debt capital raising
HONG KONG -- Bank of America has hired Abidin Siregar in a newly created role as head of global markets, Hong Kong. He will cover sales, trading and research, and build the bank’s debt capital raising business across the region.
Combined sales teams take off
LONDON -- The FX sales dealer may soon be a thing of the past if a new trend for cross-product sales teams catches on.