Articles by FX Markets Staff
Dresdner FX team could escape Commerz axe
LONDON - Dresdner Kleinwort's foreign exchange team might well escape the 9,000 job cuts arising from Dresdner Bank's €8.8 billion acquisition by Commerzbank, say market sources.
China cracks down on compliance
BEIJING - Chinese regulators have announced plans to monitor domestic and foreign banks' implementation of foreign-currency controls, in a move some analysts say is aimed at keeping speculative money out of the market.
Algo FX: the battle for market share
Algorithmic trading in foreign exchange is tipped to experience continued growth, but the uptake is not without its obstacles. Susanna Robinson reports
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.
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.
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.
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'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.
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.
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
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.
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.
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.
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
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 .
Structuring co-chief quits BarCap
LONDON – UK bank Barclays Capital has lost its global co-head of foreign exchange structuring, Philippos Kassimatis.
Forex.com gains six more currency pairs
NEW YORK – Gain Capital is set to add six Scandinavian currency pairs to its online retail foreign exchange trading platform, forex.com.
Emerging markets boost returns for ODL
LONDON – Emerging markets represent the fastest growing segment of the retail foreign exchange market at London-headquartered ODL Securities.