Articles by FX Markets Staff
Aussie fights the flames
High-yielding currencies such as the Australian dollar continue to enjoy a measure of support among international money managers, says Michael Derks, chief global strategist for Commonwealth Bank of Australia in London
Streaming data in demand
LONDON -- Streaming data provider Dealing Technologies is seeing strong interest from FX banks in its new product, senior officials at the firm told FX Week.
Freezing assets
We could be in for an abrupt change in climate. Steen Jakobsen (right) and John Hardy reveal how to adapt your portfolio to a new Ice Age
IFX announces tripling profits
LONDON -- Financial trading and spread-betting company IFX last week announced its interim profits have tripled year-on-year.
Will Snow fix flaky dollar policy?
WASHINGTON, DC -- The appointment of John Snow as US treasury secretary last week may signal a change in the US strong-dollar policy, analysts told FX Week .
Icap charity day raises £3 million
LONDON -- Icap, the world’s largest inter-dealer broker, raised more than £3.3 million on its 10th annual charity day last Wednesday (December 11).
Commerzbank cuts in London
LONDON -- Commerzbank has shed four foreign exchange jobs in London, a source at the bank told FX Week .
Pronet seeks global distributors
LONDON -- FX analysis firm Pronet Analytics is in talks with several parties regarding the global distribution of its products, said Shane Smith, chief executive of Pronet.
ING breaks new ground in FX swaps
SEOUL -- Dutch bank ING is to provide a 21-year swap for South Korea’s first cross-border residential mortgage-backed security (RMBS). "This is the first 21-year cross-border swap done in the Korean market," said Marc Choo, a Hong Kong-based director in…
Global tensions force euro higher
LONDON -- The euro hit a three-year high against the dollar late last week on heightening risk aversion among investors as global political tensions mounted.
Prat-Gay takes central bank reins in Argentina
BUENOS AIRES -- Alfonso Prat-Gay, former global head of FX research at JP Morgan Chase in London, has been appointed president of the Argentine central bank.
Merger sparks vendor war
LONDON -- Sparks were flying in the e-forex industry last week, as banks, vendors and brokers reacted to the fallout from Reuters’ purchase of rival FX trading software firm AVT Technologies.
ABN Amro names A-P sales head
SINGAPORE -- ABN Amro last week announced the appointment of Wolfgang Platzer as regional sales head for Asia-Pacific, in the banks and brokers division -- a subdivision of Global Transaction Services (GTS).
Prebon derivatives reorg
LONDON -- UK-based inter-dealer broker Prebon Marshall Yamane has reorganised its cash forwards and derivatives businesses in London.
Hotspot FXi plans launch in Europe
NEW JERSEY -- Online institutional FX trading platform Hotspot FXi will launch a European office in the first quarter of next year, in response to increasing volumes, president and chief executive officer John Eley told FX Week .
Problem trades are ‘eating up forex profits’ -- SunGard
LONDON -- Nearly a quarter of FX transaction profits are eaten up by ‘exceptions’, or problem trades, according to a survey of 500 financial institutions.
Tech briefs
Bank One installs Calypso to help expand interest rate derivatives
V-Banking upgrade
SYDNEY -- Australian FX dealing technology firm Velocity Systems International last week unveiled a new version of its web-based e-treasury software.
Prebon Asian MD to retire
HONG KONG -- Joe Lam, managing director of brokerage house Prebon Yamane (Hong Kong), and head of the firm’s forex business in the region, will retire from the firm following 27 years with the company. His replacement has yet to be named.
Trading places
Soros shifts London ops to NY
All talk no action
The current round of yen weakening differs from previous incarnations, says Koji Fukaya, senior forex strategist at Bank of Tokyo-Mitsubishi in Tokyo. A drop to 135 is not expected this time
Multi-bank pricing is working, says Centradia
LONDON -- The multi-bank model is a success for clients trading on Centradia, according to figures released by the European portal last week. It said that for half its trades, the platform has returned more competitive prices than the client’s…
Asian swap network nears completion
SINGAPORE -- An Asian initiative to cut the impact of speculative currency trading attacks in the region is nearing completion.
New Europe to bring more forex trading opportunities
FRANKFURT -- The expansion of the European Union and subsequently the eurozone will bring new markets for generating forex profits, senior officials told FX Week.