Articles by FX Markets Staff
How misaligned is USD?
Pete Luxton, global economic adviser at Informa Global Markets in London, assesses USD's deviation from purchasing power parity and how it affects the G-10 currencies
Fair-value strategies pay off in March
LONDON - Currency managers running value strategies were likely to have the best returns in March, according to strategy research by ABN Amro.
Streambase targets Tier II with forex aggregator
LEXINGTON, MA - Technology vendor Streambase is targeting Tier II banks seeking to enter the algorithmic trading arena with a new foreign exchange aggregation product.
Forex options trading surges during turbulent month
CHICAGO & NEW YORK - Foreign exchange options trading surged on the Chicago Mercantile Exchange (CME), setting multiple forex trading records during a volatile March.
Banks vow to improve transparency
WASHINGTON, DC & FRANKFURT - The Institute of International Finance (IIF), a banking industry trade group, has promised to improve transparency over risk exposure and executive pay in the wake of the credit crisis.
BoA and Deutsche shake-up e-FX
NEW YORK - Bank of America (BoA) and Deutsche Bank have realigned the senior management of their electronic foreign exchange businesses, and have seen senior departures from the banks in New York and London.
Forex bonuses intact
LONDON - Foreign exchange and rates staff avoided the sharp falls in salary and bonus packages suffered by peers in debt and credit last year, according to research by London-based recruitment company Napier Scott released last week.
Gambling on stability
The dollar's downward slide against the euro can't continue. Neil Mellor, currency strategist at The Bank of New York Mellon in London, suggests a trade to take advantage of an expected period of stability in the EUR/USD
Yen rise triggers PRDC hedging
TOKYO - The sharp appreciation of the yen in March has left dealers jostling to hedge exposures to power-reverse dual currency notes (PRDCs) and other similar structured products.
SocGen reshuffles FICC
LONDON & PARIS - Société Générale restructured its fixed income, currencies and commodities (FICC) division last week (April 3).
Wing Hang selects Misys Summit FT
HONG KONG - Wing Hang Bank has signed a deal with a global application software vendor Misys to instal treasury and capital markets software in its Hong Kong head office and subsidiary bank's operation in China.
Siena Gateway gets Fix adaptor
LONDON - Eurobase last week (April 4) launched a Fix adaptor for its e-trading connectivity product, Siena Gateway.
Small retail FX firms face extinction
Felix Shipkevich, general counsel, and Anna Vidiaev, staff attorney, at online foreign exchange trading company Capital Market Services in New York say a proposed rise in capital requirements for retail brokers will result in an anticompetitive market
Asian SWFs increase global share
LONDON - Asian sovereign wealth funds (SWF) are growing at a faster rate than their Middle Eastern counterparts, due to larger balance of payment surpluses, according to a report by the private sector industry body International Financial Services London…
Can the buy side deliver on prices?
This Wednesday FX Week is hosting its second annual FX Invest USA congress at the Mid-America Club in Chicago. The event follows the successful launch last year of this series of conferences, which act as a forum to discuss issues facing the industry…
Roche leaves Standard Chartered
SINGAPORE - Tom Roche, global head of the electronic commerce sales and retail products group at Standard Chartered in Singapore, has left the bank, market sources tell FX Week .
Icap grows in Middle East
BAHRAIN - Interdealer broker Icap is expanding its footprint in the Middle East by adding the Bank of Bahrain and Kuwait (BBK) as an EBS Prime customer.
Dresdner enhances risk appetite tool
LONDON - Dresdner Kleinwort has enhanced its proprietary multi-asset class risk appetite measurement tool, ARPI (aggregate risk perception index), ahead of a strong global push later this year.
Handelsbanken shuts down New York desk
NEW YORK - Handelsbanken Capital Markets is closing down its New York FX proprietary trading operation and concentrating this activity in Stockholm, where it is based, as part of a move to reduce earnings volatility.
A matter of preference
Jeffrey Todd Lins, director of quantitative analysis at Saxo Bank in Copenhagen, advances the tired debate over hedging versus alpha generation in wealth management.
US trading revenues plummet in 2007
NEW YORK - US commercial banks recorded $5.5 billion in trading revenues in 2007, down $13.3 billion from the record of $18.8 billion set in 2006, according to a report published by the Office of the Comptroller of the Currency last week (April 2).
Caplin wins three new clients
LONDON - London-based web technology vendor Caplin Systems has gained three new clients for its multi-product web-based client connectivity platform, Caplin Trader, said an official at the company.