Articles by FX Markets Staff
Managing mismatches
Tolga Ediz and Ivan Tchakarov at Lehman Brothers in London illustrate the net foreign assets approach as another metric to uncover mismatches in currency valuation
Saxo suspends trading head
GENEVA - Saxo Bank has suspended Charles-Henri Sabet, global head of trading for the bank in Geneva.
Yield strategy results hit 15-year low
LONDON - Currency managers using the yield strategy would have suffered their biggest blow in 15 years last month, according to research by the Royal Bank of Scotland.
Multi-currency products ride the storm
NEW YORK - Wisdom Tree has confirmed its plans to launch its first multi-currency exchange-traded fund (ETF), as single currency exchange-traded products take the brunt of the rising dollar.
Finocorp adopts RealStream Margin
TEL AVIV - Financial services provider Finocorp has taken Cognotec's RealStream Margin platform on board for use within its online retail foreign exchange trading service, Realstreamtrading.
Global capital flows support USD
Stephen Hull, foreign exchange strategist at Lehman Brothers, sees a brighter future for the US dollar, as central banks reverse their accumulation of foreign exchange reserves and foreign direct investment into the US increases
Bombay Stock Exchange trades rupee futures
MUMBAI - The Bombay Stock Exchange (BSE) has received approval to trade futures in rupees, as regulators continue on a path to open up the country's currency derivatives markets.
BoA in trans-Atlantic forex drive
LONDON & NEW YORK - Bank of America has bolstered its US and UK foreign exchange teams with newly created FX emerging market (EM) roles in New York and senior replacement hires in London.
Credit Suisse changes its spots
ZURICH - Credit Suisse has embarked on a second reorganisation of its spot foreign exchange risk management and trading teams in Zurich, in an effort to capitalise on burgeoning opportunities across electronic commerce and third-party business.
Travelex given green light in China
BEIJING - In what represents a landmark liberalisation of Chinese foreign exchange regulations, Chinese premier Wen Jai Bao has granted Travelex its first authorised FX licence to operate in China.
FXCM's forex trades reach $720 billion
NEW YORK - The notional value of trades conducted on FXCM skyrocketed to a record $720 billion for the month of July, as speculators sought to benefit from spiked volatility in the foreign exchange markets.
The vote and the dollar
Peter Luxton, global economic adviser at Informa Global Markets, says past experience shows presidential elections can be a factor in US dollar volatility
StanChart outlines forex e-pricing and trading strategy
LONDON - Standard Chartered has provided further details about its e-forex pricing and trading strategy since promoting Todd McDonald to a newly created position as global head of foreign exchange electronic pricing and trading ( FX Week August 4).
Monetary authority to ease Singapore dollar stance
SINGAPORE - The Monetary Authority of Singapore (MAS) will ease its 'strong Singapore dollar' policy in October, on the back of falling inflation figures reported last week, predict economists.
GFT ups currency research
ADA, MICHIGAN - Online trading company GFT has strengthened its currency research team by hiring two senior staff from online news and information source Daily FX.
FXCM offers new version of Forex Trading Signals service
NEW YORK - FXCM has released a new version of its algorithmic trading service, Forex Trading Signals, as the market continues to seek new ways to trade currencies amid uncertain market conditions.
BGC Partners ups the ante with Brazilian acquisition
NEW YORK - Interdealer broker BGC Partners' agreement to buy Brazilian broker Liquidez represents a desire to capture revenue growth through geographic diversification, market sources tell FX Week .
Forex revives an ailing Thomson Reuters
NEW YORK – Foreign exchange has aided Thomson Reuters’ second-quarter figures as it posted disappointing organic growth figures amid roiling financial markets.
China forms new department for forex
BEIJING – China’s central bank has created a new department focused on managing exchange rate reforms and monitoring cross-border short-term capital flows.
Chicago Mercantile Exchange sets FX volume record
CHICAGO – The Chicago Mercantile Exchange set a notional value record of $11.43 billion in FX options on futures traded on the exchange on August 8.
Hungary cautious over rate cuts
Eszter Gargyan, Citi’s economist for Hungary in Budapest, says rate cuts in Hungary are likely to be delayed in the second half of this year, but could accelerate in 2009