Articles by FX Markets Staff
US dollar plummets against the yen
LONDON - Despite USD/JPY hitting 12-year lows last Thursday, traders are expecting a further collapse of the US unit versus the yen.
Rising trade volumes in Japan prompt BNP hire
TOKYO - BNP Paribas Securities Japan has hired Adrian Averre to head trading for a newly merged rates and foreign exchange group in Tokyo.
Debate on SWFs heats up
LONDON - Calls for greater transparency by sovereign wealth funds were matched by demands from the funds themselves for fair regulatory treatment, at last week's Sovereign Wealth Management conference in London.
Crash and carry
Lena Komileva, head of G-7 market economics at Tullett Prebon, predicts a sharp reversal of the global carry trade
Platforms fight for electronic liquidity
Despite the seemingly relentless proliferation of trading platforms in the past few years, many in the industry still believe it's unlikely they will all survive.
White label growth sees Saxo shine
COPENHAGEN - Record growth in its white-labelling business has helped Saxo Bank to a 78% rise in profits for the year, to €49 million before tax.
Aegis ups algo capability for AthenaTrader 4.0
NEW YORK - Trading technology vendor Aegis Software has increased the number of algorithmic trading models available on the latest version of its execution system, AthenaTrader.
HotspotFX in white-label talks for retail offer
JERSEY CITY - HotspotFX is in talks with an undisclosed number of banks for the use of its retail electronic communications network (ECN) platform, HotspotFXr, following a global rollout of the platform at the beginning of this year.
Trend strategies pay off in February
LONDON - Currency managers running trend strategies were the top performers in February, according to research by ABN Amro.
StanChart gets a FIX
Standard Chartered last week announced that it has developed a FIX application programming interface (API) to trade over its single-bank platform.
Central bank intervention remains unlikely
LONDON, FRANKFURT & NEW YORK - Unless chaos reigns, analysts deem central bank intervention in the currency markets unlikely.
EBS's February volumes eclipse 2007 levels
Last month's average daily volume of spot FX traded on Icap's electronic spot broking platform EBS Spot increased 34% on February 2007, to $217.2 billion. The interdealer broker reported average daily spot FX trading was also up 32% for the year ending…
Reuters releases new latency monitor
NEW YORK - Reuters has launched Reuters Latency Monitor (RLM), based on technology from New York-based data technology vendor Trading Metrics, to help clients determine the speed of market data delivery over the Reuters Market Data System (RMDS) data…
Merrill Lynch reshuffles EMEA FICC
LONDON & NEW YORK - Merrill Lynch named David Gu sole head of Europe, Middle East and Africa fixed-income currencies and commodities (EMEA FICC) in London last week, after the resignation of co-head Dimitrios Psyllidis.
BNP names global options chief
LONDON & SINGAPORE - Simon Nursey has been appointed as BNP Paribas's global head of foreign exchange options trading, effective last Monday (March 3).
Tradebook FX moves forwards
NEW YORK - Bloomberg's ECN offering, Bloomberg Tradebook FX, introduced forwards trading at the start of March.
Market seeks substance
Teis Knuthsen, head of foreign exchange research at Danske Bank in Copenhagen, discusses the increasing significance of commodity exposure and domestic demand over the allure of high interest rates
StanChart shakes up Asia FX management
SINGAPORE & MANILA - Standard Chartered has made senior appointments in Manila and Singapore in commodities, foreign exchange and interest rates.
Eurobase Siena launches liquidity aggregation tool
LONDON - Eurobase Banking Solutions will offer a liquidity aggregation module later this month, in response to customer demand.
Baht convergence limited
BANGKOK - The convergence of onshore and offshore baht trading may be short-lived, as new capital controls come into force on Saturday (March 15), say some analysts.
CME FX up in February
CHICAGO - CME Group's foreign exchange volumes averaged 566,000 contracts a day in February, up 12% on 508,000 contracts in the same period last year.
FX supports profits at HSBC
LONDON - The global banking and markets business at HSBC reported pre-tax profits up 5% to $6.1 billion for 2007, despite severe disruption in the global credit markets.