Articles by FX Markets Staff
SPDR Gold Trust to trade futures and options
WASHINGTON, DC - US regulators approved trading and clearing for futures and options based on the Standard & Poor's Depositary Receipts (SPDR) Gold Trust, an exchange-traded fund (ETF), on June 2.
Rising dollar brings Parker FX down
STAMFORD, CT - The Parker FX Index produced a 0.01% loss in April, as the US dollar rose against a basket of G-6 currencies for the first time in several months.
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.
India to allow exchange-traded FX futures
MUMBAI - Indian regulators have recommended the introduction of exchange-traded currency futures to further develop the India's foreign exchange markets.
Cultural change needed post-crisis
BOSTON - As banks and other market players seek to close risk management loopholes exposed by tottering markets, some post-mortems are homing in on a broader issue: corporate culture.
More FX departures at Bear Stearns
NEW YORK & LONDON - Bear Stearns' foreign exchange team continues to suffer departures as the bank's FX business gets merged with that of JP Morgan.
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.
Lloyds TSB expands in derivatives
LONDON - Lloyds TSB Corporate Markets is continuing to expand its global derivatives business, with two key hires for its foreign exchange derivatives trading team.
RBC Capital Markets cuts London forex
LONDON - RBC Capital Markets has made cuts to its London foreign exchange team in the wake of a fall-off in second-quarter results.
More FX departures at Bear Stearns
NEW YORK & LONDON - Bear Stearns' foreign exchange team continues to suffer departures as the bank's FX business gets merged with that of JP Morgan.
Gold producer hedging drops to record lows
LONDON - Gold hedging plunged by another 18% in the first quarter of 2008, shrinking the global delta-adjusted hedge positions to 22 million troy ounces (Moz).
ABP prunes USD hedge
AMSTERDAM - Europe's largest pension fund, ABP, is changing its long-term policy of hedging 100% of its US dollar exposure, to 80%.
UniCredit hires trading chief in London
LONDON - UniCredit is continuing its policy of building up its presence in the foreign exchange market with another key hire in London.
Hotspot FX set to launch gold and silver spot trading
JERSEY CITY, NJ - Hotspot FXi is launching trading in spot gold and silver on the electronic communications network (ECN) on June 10.
Ex-EBS chief now at SuperD
LONDON - Jack Jeffery, former chief executive at electronic spot broker EBS, has resurfaced at options pricing and risk management software vendor SuperDerivatives.
Between a rock and a hard place
Patrick Lefler, foreign exchange consultant at Wall Street Systems in New York, looks at the future of CLS as demand grows for bilateral netting
Global heads quit StanChart
SINGAPORE - Standard Chartered has been hit by senior management departures in Singapore, amid the bank's continuing restructuring, launched at the end of last year.
TD Securities adds in Singapore
SINGAPORE - TD Securities is continuing to build up its Asia rates and foreign exchange hub, with a new hire in Singapore.
Saxo Bank gains French foothold
PARIS - Saxo Bank plans to acquire Paris-based online foreign exchange broker Cambiste in a seven-figure deal, in anticipation of demand for forex and contracts-for-differences (CFDs) trading in the local French market.
Up, up and Nikkei
Andrew Capon, editor-in-chief at State Street Global Markets research in London, shines a spotlight on Japanese equities
Hedge funds keen on FX
STAMFORD, CT - Hedge funds increased their forex trading volumes by 180% in 2007, as global FX trading volumes rose 36% to $99 trillion, according to statistics released May 28.