Articles by FX Markets Staff
Barclays Capital loses two in European sales
LONDON - Barclays Capital has lost two senior foreign exchange salespeople in London, according to industry sources.
TD Securities expands in forex options
LONDON - TD Securities has hired David Hitchins as managing director and global head of foreign exchange options in London to spearhead the global expansion of the dealer's FX options business.
Asia should ditch USD to cut settlement risk
HONG KONG & TOKYO - US dollar settlement risks in the Asian foreign exchange market could be reduced by using an Asian vehicle currency for intra-regional trade and direct settlement among Asian currencies, according to economists.
No respite this summer
Valentin Marinov, foreign exchange strategist at Dresdner Kleinwort in London, evaluates the prospects of a volatile summer and beyond
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
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.
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.
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.
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).
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.
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.
Funds becoming more reliant on e-FX
STAMFORD, CT - Requirements to prove best execution have led to an increased reliance on electronic trading by fund managers and pension funds, according to research released on June 2.
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.
TD Securities expands in FX
LONDON & SINGAPORE - Canadian bank TD Securities is continuing to build up its FX business, with a hire in London and a transfer in Singapore.
Rescue the rouble
Igor Souzdaltsev, head of financial institutions at OTP Bank (Russia) in Moscow, calls to stave of another financial crisis
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.