Articles by FX Markets Staff
January loss for Parker FX
STAMFORD, CT - The Parker FX index produced a 0.33% loss in January, as extreme volatility hit funds using trend-following strategies.
Culham takes key role at CIBC World Markets
TORONTO - Harry Culham, former global head of foreign exchange at Merrill Lynch in London, is set to join CIBC World Markets as managing director and head of fixed income and currencies (FIC). He will be based in Toronto.
South Korea interbank FX volumes shoot up
SEOUL - Average daily volumes in South Korea's interbank FX market rose to $19.71 billion in 2007, up from $11.8 billion a year earlier, according to official statistics released last week.
Forex delivers for StanChart and RBS
LONDON - Income from FX helped Standard Chartered boost profits to a record high, as British banks announced full-year results tempered by exposure to subprime investments.
MF Global loses $141.5m from rogue wheat trade
NEW YORK - Interdealer broker MF Global has lost $141.5 million after it was forced to cover trading losses made by one of its employees.
Citi and Wegelin team up to launch new forex portfolio
LONDON & ST GALLEN - Citi and Swiss private bank Wegelin Asset Management launched the Citi Wegelin Active Currencies portfolio last Tuesday (February 26), an investable portfolio based on six systematic FX strategies.
Bailey named Newedge's deputy global head of FX
NEW YORK & LONDON - Michael Bailey, head of European FX for institutional brokerage Newedge in London, has been given the additional role of deputy global head of FX.
ABN targets retail investors
DUBAI - ABN Amro has launched the Bric Infrastructure, Water and FX capital-protected note, targeted at retail investors globally.
Split euro personalities
Simon Derrick, head of currency research at Bank of New York Mellon, investigates the causes of a geographical split in investor behaviour within the eurozone
EBS Spot aims for NDF supremacy
LONDON - The battle to gain market share in electronic non-deliverable forwards (NDFs) broking is gathering pace, with the launch of seven Asian NDFs and Russian rouble trading on electronic spot broking system EBS Spot today (March 3).
Time for Reuters to vocalise on NDFs
The launch of non-deliverable forwards (NDFs) trading on spot broking system EBS Spot today signals the re-launch of industry initiatives that were shelved as the market absorbed the damage caused by last summer's subprime crisis.
New options classes for latest Fenics release
LONDON - Seven new option classes are being added to the latest version of GFI Group's Fenics, an FX options pricing, risk management and trading tool.
Bank of Thailand lifts capital controls
BANGKOK - The Bank of Thailand is today (March 3) lifting controversial capital controls aimed at curbing inflows of hot money and a surging baht, 15 months after introducing the rules.
Cfets announces top FX performers for 2007 in China
SHANGHAI - Bank of Montreal (BMO) won a clutch of prizes at the China Foreign Exchange Trading System (Cfets) awards for the foreign exchange industry last Wednesday.
Deutsche offers CRI-linked auto-callables
LONDON - Deutsche Bank is now selling auto-callable and target redemption notes linked to its Currency Return Index (CRI).
Thomson gets go-ahead for purchase of Reuters
LONDON & STAMFORD, CT - Thomson Corporation received approval from the European Commission, US Department of Justice and Canadian Competition Bureau to acquire Reuters last Tuesday (February 19).
UBS receives India banking go-ahead
MUMBAI - UBS joined an elite pool of foreign banks to receive an Indian banking licence last Monday (Feb 18) from the Reserve Bank of India.
StanChart launches quant academy to crack market
LONDON & SINGAPORE - Standard Chartered is boosting its quantitative skills base through a new quant academy programme.
Harnessing the future
Standard Chartered's decision to launch a quant academy programme is further evidence of banks putting more resources in developing the markets through human capital.
Logicscope and NCI release notification tool
LONDON - Post-trade technology vendors Logicscope and NCI have entered an agreement to integrate elements of both companies' software to release a trade notification solution to end-user clients of banks, brokers and trading platforms.