Articles by FX Markets Staff
Merrill Lynch takes Fenics
NEW YORK -- Merrill Lynch is deploying the Fenics FX options pricing software from New York-based broker and vendor GFI Group in 100 global positions, GFI announces today (December 9). Fenics replaces Merrill’s existing in-house pricing platform for FX…
Reuters extends Icap deal
LONDON -- UK information and technology firm Reuters has extended its agreement with London-based interdealer broker Icap to add more treasury and fixed-income market data to its platform, Reuters announced last week.
Euro slumbers through ECB decision
FRANKFURT -- There was little reaction in the FX markets to the European Central Bank’s (ECB) decision to cut interest rates by 50 basis points last Thursday (December 5).
Reuters to acquire AVT Technologies
LONDON -- Reuters is buying UK foreign exchange trading technology firm AVT Technologies for an undisclosed sum, Reuters announced last week.
Banks snap up dealers fluent in Spanish and Portuguese
LONDON -- Forex sales professionals fluent in Spanish and Portuguese are in demand as banks seek to increase their client business in the Iberian peninsula, Latin America and the US, senior officials told FX Week.
Emerging markets success for FX funds
STAMFORD, CT -- Emerging markets currency funds outperformed their G7 counterparts in October, according to the Parker FX index, which published figures for the month last week.
Calm before the storm?
Averting a potential war in the Middle East may not be enough to change the dollar’s tone, says Monica Fan, senior currency strategist at RBC Capital Markets in London
AIG makes senior FX appointments
GREENWICH, CT -- AIG Trading Group has made four senior FX additions to its global operation over the past two months, a spokesperson in the bank’s Greenwich, Connecticut headquarters told FX Week.
Saxo takes fund management online
COPENHAGEN -- Danish investment bank Saxo Bank last week launched an online currency fund. Real-time market data, lower outlay and transparency of the fund’s management will enable more institutional and private investors to participate in the forex…
Nedbank takes Reuters’ web OMS
JOHANNESBURG -- South African bank Nedbank became the first bank to go live with an internet-enabled forex order management service from Reuters Treasury Solutions, the bank announced last week.
Forex e-trading volumes rising
NEW JERSEY -- US-based retail and institutional FX trading service Gain Capital notched up record trading volumes in October, the firm said.
Dealers cautious on bonus expectations
LONDON -- FX dealers are expecting moderate payouts this year, as the bonus season kicks off with payout announcements from the US investment banks this month.
FI and forex down at UBSWarburg
ZURICH -- UBS Warburg reported a downturn in its third-quarter earnings for fixed income and forex.
Active FX markets boost Icap’s results
LONDON -- Inter-dealer broker Icap has performed well in active FX markets during the first half of the year, group chief executive Michael Spencer told FX Week, as the firm announced its six-month results last week.
King in line for BoE top job
LONDON -- The City last week welcomed the appointment of Melvyn King as the next governor of the Bank of England, following the retirement of Edward George in June 2003.
Unusual suspects boosted by the return of rate differentials
LONDON -- Interest rate differentials are making a comeback as a driving force in foreign exchange, as currencies backed by high interest rates continue to strengthen.
North Korea shuns dollar, welcomes euro
PYONGYANG -- North Korea is to ban the use of US dollars from the start of December in retaliation for the US decision to freeze oil exports to the communist nation.
FX markets shrug off Kenya attacks
LONDON -- There was muted reaction in the FX markets to last week’s terrorist attacks in Kenya.
Correlation key for forex returns
For greater returns in the FX markets, investors should examine the correlations between different currency pairings, says Peter Luxton, economic adviser at MMS International
FXall adds liquidity providers
LONDON -- Multi-bank trading portal FXall will announce the addition of four new liquidity providers to its platform today (December 2).
Investment banks cut FX
NEW YORK -- Lehman Brothers and JP Morgan Chase have cut FX jobs, senior officials told FX Week. The cuts are the first sign that forex may suffer as a result of the year’s depressed investment-banking activity -- so far the product has benefited from…
Greenback recovery continues apace
The US dollar has brushed aside negative sentiment but this week’s data releases will be pivotal for the currency, says Shahab Jalinoos, currency strategist at UBS Warburg