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FX Markets Staff

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Articles by FX Markets Staff

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…

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.

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.

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.

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.

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