Articles by FX Markets Staff
RBI releases details of rupee futures plans
MUMBAI - The Reserve Bank of India (RBI) has recommended a single dollar-rupee contract of $1,000 for the introduction of exchange-traded futures into the country.
Risks for Anglo-Saxon currencies
Mike Gallagher , director of research at IDEAglobal in London, evaluates the prospects for currency markets during a break in the intensity of negative credit or economic news
Eurobase enhances limit order support
LONDON - London-based trading technology vendor Eurobase has expanded the foreign exchange limit order processing in its Siena e-Trading system to include more order capture and processing support for non-deliverable forwards, FX spot, outright and swaps.
FX a highlight in tough Q1
FRANKFURT & STOCKHOLM - Foreign exchange revenues continue to provide a bright spot in European banks' gloomy quarterly results, as the credit-related losses roll on for market players.
Land of opportunity
The re-emergence of large numbers of stocks trading at a discount to their net current assets (net/nets) attests to the remarkable values now available in Japan, says Peter Tasker, part of Dresdner Kleinwort's Japan research team in Tokyo.
RBS readies post-merger Asia forex trading team
HONG KONG & SINGAPORE - The Royal Bank of Scotland (RBS) is considering relocating its G-11 currencies trading hub from Hong Kong to Singapore, according to sources, although its plans are not yet finalised.
Banks give boost to TradingScreen
NEW YORK - Foreign exchange technology vendor TradingScreen has updated its trading platform to include Credit Suisse's advanced execution services FX algorithms.
CFTC slams Alaron Trading
CHICAGO - Chicago-based futures trading company Alaron Trading is due to pay $299,000 in penalties by today (April 28) for failing to supervise employees.
Deadline for e-FX Awards imminent
The closing date for FX Week 's 5th annual e-FX Awards is fast approaching. To be in the running for one of these awards we must receive your entry by the close of play on May 2, 2008.
Tide of writedowns rolls on for banks
NEW YORK, LONDON & ZURICH - Foreign exchange results continue to provide much-needed good news for investment banks, as major players announced a fresh wave of billion-dollar credit-related writedowns last week.
Carry trades added to UBS subprime woes
ZURICH & BASEL - Carry trades might have contributed to an almost $1.9 billion writedown in a UBS foreign exchange/cash collateral trading (FX/CCT) subprime portfolio, as profit and compensation incentives overrode liquidity risk, an internal report has…
Merrill Lynch FICC team faces cuts
LONDON - Merrill Lynch put more than 80 members of staff in its fixed-income currencies and commodities (FICC) group in the Europe, Middle East and Africa (EMEA) region on a 90-day consultation period last Wednesday (April 23).
South Korean FX trading up 100% in first quarter
SEOUL - Daily foreign exchange trading volumes in South Korea's interbank market rose by just over 100% in the first quarter of this year, compared with the same period last year.
G-3 corporates increase their currency hedging
NEW YORK, LONDON & TOKYO - The average year-end global hedging ratio has risen 13% since December, according to the results of a G-3 corporate hedging survey by JP Morgan.
The retail revolution continues...
With each week comes more news about initiatives carried out by wholesale banks to target the retail foreign exchange market, each applying slightly varying strategies. US investment banks, for example, have been renowned for their aggressive pricing to…
FX fraud leads to $11m payment order
WASHINGTON, DC - Two New York residents and New York-based First Lexington Group (FLG) have been ordered to pay more than $11 million in civil monetary penalties, disgorgement and restitution monies for defrauding investors in illegal FX futures schemes.
ABN trio joins the PrivateBank-Chicago
CHICAGO - Three former ABN Amro/LaSalle senior forex managers have resurfaced at the PrivateBank-Chicago (PBC), a unit of PrivateBancorp, to head the company's newly established capital markets business.
Hotspot FXi launches data service
JERSEY CITY, NJ & LONDON - Hotspot FXi is the latest platform to take advantage of the demand for foreign exchange market data from model-based and algorithmic trading shops, selling market data from its historical archive.
Icap and Korea Money Broker form alliance
LONDON & SEOUL - Icap and Korea Money Brokerage Corp, announced on April 24 that they have formed a strategic alliance to further develop electronic spot foreign exchange trading in Korea.
Exshaw enters consultation period at Merrill Lynch
LONDON – Christian Exshaw, global head of foreign exchange sales, EMEA at Merrill Lynch in London entered a 90 day consultation period at the bank on Wednesday (April 23).
There will be blood
David Woo, head of global foreign exchange strategy at Barclays Capital in London, notes the movers and shakers among the G-10 currencies
Global remit for Deutsche pair
LONDON & NEW YORK - Deutsche Bank has promoted Ivor Dunbar and Richard Byrne to share the role of head of global capital markets in London and New York, respectively, filling the role left vacant by Thomas Gahan.