Articles by FX Markets Staff
Trading records fall during turbulent month
NEW YORK & LONDON - Records tumbled on foreign exchange trading platforms last month, with EBS and Currenex reporting record trading volumes for the month and FXall a record quarter.
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…
Siena Gateway gets Fix adaptor
LONDON - Eurobase last week (April 4) launched a Fix adaptor for its e-trading connectivity product, Siena Gateway.
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.
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
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 .
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.
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.
Watching the market in 3D
Chip Lowry, senior managing director of Currenex, and John Vause, managing director of State Street's Global Link business for Europe, the Middle East and Africa, evaluate the evolution of the FX market's structure
CFTC wary of Fed's merger proposal
WASHINGTON, DC - The Commodity Futures Trading Commission (CFTC) has urged US Treasury to proceed with caution over its recommendation to merge the US futures regulator and its securities market counterpart, the Securities and Exchange Commission (SEC).
FXMS enters CLS market
LONDON - FXMarketSpace (FXMS) has launched an alternative system for settling foreign exchange trades over the platform, in an effort to tackle risks and costs associated with settling trades from high frequency traders.
CMC Markets launches TWI-based CFD currency indexes
LONDON - CMC Markets is launching 10 contract for difference (CFD) currency indexes based on the trade-weighted indexes (TWI) of central banks.
Banks continue to target retail forex
SALT LAKE CITY - Two major banks have made moves to benefit from the burgeoning retail foreign exchange market.
Citi in e-FX shake-up
LONDON & SINGAPORE - Citi has restructured senior management of its electronic foreign exchange business, while also announcing the retirement of Gavin Wells, London-based head of FX e-commerce, from the bank this month.
HSBC promotes Gupta
SINGAPORE - HSBC has promoted Amit Gupta to head of global markets in Singapore, with effect from April 1. He was previously head of sales for global markets and succeeds John McGowan, who will retire in June.
Ex-EBS trio develops new distance latency product
NEW YORK - Market Factory, a company formed by three former senior EBS figures, is developing a software product that could potentially be sold back to their former employer.
Turnaround for Parker FX Index
STAMFORD, CT - The continued decline in the US dollar has halted three consecutive months of negative returns for the Parker FX Index, producing a return of 1.34% for February.
FXMS initiatives need to see volume
FXMarketSpace's initiative to launch an alternative settlement system to industry utility continuous linked settlement is a bold one.
Goldberg departs BNP Paribas
NEW YORK - Andrew Goldberg, New York head of foreign exchange trading, left the bank last week.
Voting for e-FX Awards now under way
The starting pistol for this year's e-FX Awards has been fired, with companies invited to submit their pitches in the 13 categories.
Edsparr to join Citadel
LONDON & NEW YORK - Chicago-based hedge fund Citadel has hired JP Morgan's head of rates, FX, secondary products and principal investment, Patrik Edsparr.
Texan FX trader fined $3m over misleading website
WASHINGTON, DC & TEXAS - The Commodity Futures Trading Association (CFTC) has collected more than $3 million in civil money penalties and restitution monies from anti-fraud action against a Texas-based foreign exchange trader.