Articles by FX Markets Staff
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.
Schneider Foreign Exchange sees revenues rise by 456%
LONDON - Schneider Foreign Exchange's revenues have surged 456% since the second quarter of 2007, the London-based commercial foreign exchange services provider has told FX Week .
Trend followers suffer losses
LONDON - Currency managers employing trend strategies are likely to be nursing heavy losses after the past 12 months, according to research by ABN Amro.
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 .
Banks expand in North America
NEW YORK & TORONTO - Bank of America (BoA) and CIBC World Markets have made key hires in New York and Toronto, respectively.
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.
New Chinese FX rules a paper tiger
BEIJING - Analysts are unfazed by revisions to foreign exchange regulations governing capital flows and policy on the renminbi exchange rate mechanism made by Chinese regulators last week.
Citi hires one but loses three in Singapore FX
SINGAPORE & LONDON - Citi has added a spot desk head but has also cut three members from its foreign exchange team in Singapore, said market sources.
London still top for FX
LONDON, NEW YORK, TORONTO, SINGAPORE & SYDNEY - London continues to solidify its position as the centre of foreign exchange, surpassing other regional centres due to its central location and dual time zone, according to analysts.
New spot FX trading chief at Morgan Stanley
LONDON - Morgan Stanley has lost its head of European spot foreign exchange trading in London, the US dealer has confirmed with FX Week .
New board at FXall
NEW YORK - Jerry Putnam and Eddie Wen have joined FXall's board of directors, replacing Martin Spurr and Henri Foch who did not run for re-election.
FX thrives in challenging times
FRANKFURT, MEXICO CITY & MONTREAL - International banks are claiming strong foreign exchange revenue gains against challenging overall market conditions in earnings released last week.
CFT up 16.5% in first half this year
GENEVA - Compagnie Financière Tradition (CFT) has reported a 16.5% increase in first-half trading conditions from the same time last year, with consolidated turnover for the period reaching Sfr788.3 million ($752 million).
StanChart reshuffles e-FX division in Singapore
SINGAPORE - Standard Chartered is restructuring its electronic foreign exchange business with the creation of a new global FX electronic pricing and trading division.
Commerzbank and Credit Suisse lose strategists in London
LONDON - Commerzbank and Credit Suisse are understood to have lost two senior foreign exchange strategists in London, market sources tell FX Week .
De Haro Toledano back in London
LONDON - A foreign exchange salesperson at BNP Paribas has rejoined the French bank in London, the dealer has confirmed with FX Week .
Elysium attracts six new buy-side clients
STAMFORD, CT - Elysium Technology has added six buy-side clients for GridIron, a foreign exchange aggregation system, and MPTracker, its database management software, in the first half of this year.
USD labour market hits bottom
Michael Woolfolk, an economist at Bank of New York Mellon in New York, analyses the latest US employment report, examines how the FX markets have reacted to its contents, and reflects on the future of the US dollar
HSBC top for FX in China
HONG KONG - HSBC is the best foreign bank for FX and treasury in China, according to a survey of 33 foreign banks in China released last week.
China's central bank launches forex payment system
BEIJING - China's central bank has launched a foreign exchange payment system to ease transfers between banks on behalf of corporates in the country.
Retail vs professional: a clash of values
An issue that seems to be emerging is the clash of values between the retail and professional markets in how they operate, specifically what happens when deals are done on off market prices.
Icap adds 15 to Global Access
LONDON - Icap has added 15 customers to its web-based trading application, EBS Global Access, which enables web-based access to EBS Spot, in a bid to move into new markets.