Articles by FX Markets Staff
Credit Suisse integrates forex algos into Minerva OEM
LONDON - Credit Suisse has become the first broker to integrate foreign exchange smart routing and algorithmic execution strategies into Fidessa LatentZero's Minerva order and execution management system (OEMS), with automated execution services (AES) FX.
Former Refco CEO faces 16 years behind bars
NEW YORK - Phillip Bennett, the former chief executive of the once biggest independent US futures broker Refco, has been sentenced to 16 years in prison for defrauding investors of an estimated $2.4 billion.
Yield strategies pocket best returns
LONDON - Currency managers running yield strategies typically bagged the highest returns in June, according to research by ABN Amro.
Calyon loses FX exotics head in London
LONDON - Calyon has lost its head of foreign exchange exotic derivatives trading in London, industry sources have told FX Week .
The JB Currency Hedge Fund thrives on risk aversion
LONDON - Augustus Asset Manager's currency fund delivered an 18.87% net-of-fees return in its first 11 months by avoiding risk in emerging markets and G-3 currencies.
Moumdjian quits BoA
NEW YORK - Harry Moumdjian, principal and head of electronic solutions sales for North America at Bank of America in New York, has resigned from the bank.
CME posts surge in Q2 forex volumes
CHICAGO - The Chicago Mercantile Exchange (CME) reported a strong increase in contract volumes in second-quarter results released last Tuesday (July 1).
Talk isn't so cheap
Will the G-7 precipitate a major dollar turning point through stronger rhetoric or co-ordinated intervention? Arnab Das, global emerging markets and FX strategist at Dresdner Kleinwort, expects beefed-up rhetoric, but no action, yet
The technological arms race continues...
One of the key takeaways from the FX Week USA congress last Tuesday is that the unrelenting spend on technology seen over the past few years is unlikely to end. A quick poll of delegates found that two-thirds will spend more on technology in fiscal year…
JSE futures volumes top $1bn
JOHANNESBURG - Increased volatility in the currency markets has helped push the total value of currency futures traded on the Johannesburg Stock Exchange (JSE) beyond the $1 billion mark within 12 months of launch.
TraderTools gets smart with liquidity
NEW YORK AND PARIS - FX trading technology vendor TraderTools has implemented Smart Trade's STTP 5.5 liquidity management system for use within its Liquidity Management Platform.
RBS gets smart with prime brokerage
LONDON & GREENWICH - The Royal Bank of Scotland (RBS) has taken its prime brokerage platform Smartprime live today (June 30) through online portal RBSMarketplace.
Last FX man standing quits at Credit Suisse
LONDON & GREENWICH - The last member of Credit Suisse's defunct foreign exchange team for southern Europe is leaving the bank, market sources tell FX Week .
The end of an era
Teis Knuthsen, head of foreign exchange research at Danske Bank in Copenhagen, says rising inflation could force a shift in the underlying FX regime of the past decade
Quant demand in full force
GLOBAL - The high demand for quantitative foreign exchange specialists continues, fuelled by concerns over risk controls and growth in local currency derivatives and hybrid derivatives trading, industry sources have told FX Week .
More currency ETFs hit US
NEW YORK - Two more currency-linked exchange-traded funds (ETFs) were listed on the New York Stock Exchange's NYSE Arca on June 25.
CFTC moves to close 'London loophole'
LONDON - The Commodity Futures Trading Commission (CFTC) has moved to impose US position limits and hedge exemption requirements on US customers trading West Texas Intermediate (WTI) crude oil on London-based ICE Futures Europe.
HSBC emerges in Georgia
TBILISI - HSBC is capitalising on rising demand for forex services in the former Soviet Union by opening its first commercial banking branch and head office in Georgia.
Nordea signs up to 360T
COPENHAGEN - Nordea has joined the 360 Treasury Systems (360T) TEX multi-dealer cross-product trading system, in response to a spike in interest among mid-cap clients for the platform, the bank said.
Rival banks scoop Merrill Lynch defectors
LONDON - Morgan Stanley and Barclays Capital have made two hires from Merrill Lynch, market sources tell FX Week .
Time to tighten the belt
Marc Chandler, chief currency strategist at Brown Brothers Harriman in New York, considers how the fight against rising inflation will affect markets around the globe
Oanda offers money-transfer service
NEW YORK, TORONTO ZURICH & SINGAPORE - Online trading company Oanda is today (June 30) launching a new wire transfer service called FXGlobalTransfer for cash management in cross-border funds transfer.