Articles by FX Markets Staff
RBS gets bigger in Japan
TOKYO – The Royal Bank of Scotland (RBS) is expanding its coverage of Japan’s institutional market with a key hire in Tokyo.
Saxo makes strategic moves
COPENHAGEN – Saxo Bank has appointed a new foreign exchange strategy chief in Copenhagen.
UBS suffers $4.3bn FICC losses in Q2
ZURICH – Revenues from the fixed-income, currencies and commodities (FICC) business at UBS collapsed in the second quarter of this year, generating Sfr4.72 billion ($4.33 billion) in losses.
EU banks get London boost
LONDON – Deutsche Bank and Société Générale have bolstered their London teams with fresh hires in foreign exchange sales and trading, market sources tell FX Week.
nvestors back MarQCuS by $1.7 billion
LONDON – Lehman Brothers has gained $1.7 billion in investments for its Macro Quantitative Currency Strategies platform (MarQCuS), as investors aim to maximise returns amid failing pure carry strategies.
Volumes double as US dollar gains
GLOBAL – Dealers saw a sharp rise in euro and sterling trading volumes as the dollar continued a broad-based recovery against the major currencies last week.
Structuring co-chief quits BarCap
LONDON – UK bank Barclays Capital has lost its global co-head of foreign exchange structuring, Philippos Kassimatis.
Brokers suspicious of retail FX task force
WASHINGTON, DC – The launch of a retail foreign exchange fraud prevention taskforce by the US futures regulators has sparked concern among brokers that it could be a veiled move to lure retail FX traders towards exchanges.
The murky side of retail forex
In these days of heightened regulatory scrutiny, Saxo Bank could take it upon itself as a pioneer of the retail foreign exchange market to more effectively monitor who is using its technology and how.
Merrill Lynch goes live with prime brokerage on EBS
LONDON – Merrill Lynch has become the latest bank to enable clients to trade on EBS Spot using its credit line.
JP Morgan gets go-ahead for derivatives in Korea
SEOUL – JP Morgan has been given the regulatory go-ahead to trade derivatives products in South Korea, ahead of regulatory reform in the country.
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.
Dresdner bulks up trading
LONDON - Constantinos Constantinou is to rejoin Dresdner Kleinwort after decamping to its US competitor Merrill Lynch last year, the German dealer has confirmed with FX Week .
TD Securities continues FX expansion
LONDON - TD Securities is continuing to expand its European FX franchise, with a senior hire from rival Canadian dealer RBC Capital Markets.
Emerging market ETFs booming
ROCKVILLE, MD - Rockville-based Rydex Investments is set to launch four currency exchange-traded products linked to emerging market currencies at the end of the month, as the market for these products grows.
CME continues growth in July
CHICAGO - The Chicago Mercantile Exchange (CME) reported a 16.9% rise in year on year average daily notional value of foreign exchange contracts traded in July to $90.2 billion, based on 640,347 contracts.
Merger could shake up e-FX options
NEW YORK - The potential merger of Tullett Prebon and GFI Group could boost competition for market share in the electronic forex options market, according to analysts.
Europe's banks up in forex
LONDON - European banks had a bumper first half of the year in foreign exchange, which was driven by higher customer volumes.
Parker FX Index doubles returns in June
STAMFORD, CT - The Parker FX Index returned 0.17% in June, up from 0.08% in May, amid dollar volatility throughout the month.
RBS builds Asia-Pacific FX
SINGAPORE & HONG KONG - The Royal Bank of Scotland (RBS) has boosted its Asia-Pacific franchise with senior staff from competing banks for newly created senior foreign exchange trading and structuring roles.