Articles by FX Markets Staff
SuperDerivatives upgrades forex platform
LONDON - Seven banks have begun using upgraded pricing and risk management software offered by SuperDerivatives that includes expanded exotics support and integrated price discovery, marketing, reporting and online execution.
Icap breaks into retail forex market
LONDON - Icap is breaking into the lucrative retail foreign exchange market by teaming up with London-based retail equity and FX trading sister company City Index, senior officials tell FX Week .
Barclays Capital loses two in European sales
LONDON - Barclays Capital has lost two senior foreign exchange salespeople in London, according to industry sources.
Deutsche strengthens in Russia
MOSCOW & BRASILIA - Deutsche Bank has boosted its FX operations in Russia and Brazil by recruiting staff from JP Morgan and Merrill Lynch.
Foreign exchange: the entrepreneurs' market
Does anyone get the impression Michael Spencer is not only taking over the foreign exchange industry but also keeping developments in the family?
Westpac boosts FX sales ahead of merger
LONDON AND NEW YORK - Australian dealer Westpac is bolstering its FX sales presence in the US and UK, less than a month after announcing plans to merge with domestic rival St George.
Margin FX "gambling" banned in China
BEIJING - China's banking regulators have issued a ban on FX margin trading, citing poor risk management among Chinese commercial banks licensed to provide the service. Existing margin trading accounts need to be settled as quickly as possible, added the…
Aussie star on the wane
The good times are over for the Australian dollar, as the economy stalls, writes Stephen Koukoulas, global strategist at TD Securities
Russia confirms rouble conversion
ST PETERSBURG - The Russian Government has confirmed plans to convert the rouble into a reserve currency in the near future.
Libor gets an overhaul
LONDON - The British Bankers' Association (BBA) has announced changes to the governance of the London Interbank Offered Rate (Libor).
Staff shedding continues at JP Morgan
NEW YORK AND LONDON - In one of the first cuts to its own FX team, JP Morgan is said to have axed a senior FX salesperson in New York, as part of a continuing attempt to reduce headcount after acquiring troubled bank Bear Stearns.
Gulf single regional currency approved
DUBAI - Central bankers from Arab Gulf states approved a draft monetary union treaty last week (June 9) for creating a single regional currency. Saudi Arabia, Qatar, the United Arab Emirates, Bahrain and Kuwait agreed to create a Gulf currency by 2010…
Saxo Bank boosts white-label partnership
COPENHAGEN - Saxo Bank has boosted its white-label partnership by appointing Stephan Martinussen to a new role as global head of partner sales.
Hotspot gets summer upgrades
JERSEY CITY, NJ - Knight Capital Group has embarked on a summer-long software revamp of Hotspot, its electronic FX platform. The broker-dealer has already stripped two-thirds of round-trip time from the software.
ABN upbeat on US dollar
FRANKFURT - ABN Amro has launched two capital-protected notes in Germany designed to provide exposure to the appreciation of the US dollar against the euro. The notes are targeted at investors anticipating a move towards a sustainable US base interest…
Standard Chartered gains French foothold
PARIS - Standard Chartered opened a branch in Paris on June 5 in response to the growth in its global corporates and financial institutions business in France.
Short volatility strategies profitable again
LONDON - A short volatility strategy would have gained currency managers the highest returns in May, according to strategy research carried out by ABN Amro.
Saxo opens in Tokyo
TOKYO - Saxo Bank has announced it is opening a Tokyo office, Saxo Bank Japan, to expand its trading presence in the Asia-Pacific region.
Deutsche builds EM options
LONDON - Deutsche Bank has moved to enhance its emerging markets options capabilities with a key hire from Goldman Sachs in London.
Rescue the rouble
Igor Souzdaltsev, head of financial institutions at OTP Bank (Russia) in Moscow, calls to stave of another financial crisis
Forex volumes on CME up in May
CHICAGO - Average daily foreign exchange volumes at the Chicago Mercantile Exchange reached 621,334 contracts with a notional value of $87.92 billion in May, up 29% and 48% respectively on the same period last year.