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FX Markets Staff

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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 .

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.

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

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…

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…

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.

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