Articles by FX Markets Staff
Barclays Capital rises above credit crisis
LONDON - Barclays Capital released solid full-year results last week, as banks across mainland Europe posted results tarnished by the effects of the credit crisis.
Icap suspends interbank FX forwards and swaps pricing in mainland China
LONDON & SHANGHAI - Icap stopped quoting forwards and swaps in the Chinese interbank market through its local joint venture last week, due to a lack of regulatory clarity.
Kerviel acted alone - SG report finding
PARIS - The Société Générale (SG) investigation into rogue trader Jérome Kerviel has found no evidence of an accomplice, but criticises the bank's oversight teams for failing to take the initiative in following up 93 alerts triggered by his unauthorised…
Taiwan banks accuracy warning
TAIPEI - The Taiwanese monetary authority issued a circular to banks last week warning dealers to ensure the necessary paper work is accurately reviewed when executing currency forwards and non-deliverable forwards trades.
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).
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).
Doubts over CLS 'warehouse' system
LONDON & ZURICH - The competitive nature of back-office capacity could curtail adoption of a proposed solution by settlement system CLS to manage strains placed on these systems by surging ticket volumes, say industry experts.
Fenics Enterprise extends GFI's options data reach
LONDON - GFI Group plans to further embed itself in the trading process with a bespoke version of its Fenics FX options pricing, risk management and trading tool, Fenics Enterprise.
Thai currency restrictions here to stay
BANGKOK - The Thai central government stopped short of lifting controversial foreign currency restrictions last week, despite embarking on a push to relax capital controls last month.
Schiff quits Newedge
CHICAGO & NEW YORK - Ryan Schiff, recently appointed Chicago-based global head of liquidity at the newly merged Fimat and Calyon Financial entity, Newedge, has quit the company to join rival institutional broker MF Global.
Credit Suisse signs up more algo clients
LONDON - Nine new clients signed up to use Credit Suisse's algorithmic trading models for foreign exchange in January, according to a senior official at the bank in London.
Saxo adds FX options in the US
NEW YORK - Saxo Bank is extending trading in foreign exchange options by private investors in the United States this week.
August leaves Merrill for TD Securities
LONDON - Mark August, former head of UK real-money business, Europe, Middle East and Africa (EMEA), at Merrill Lynch in London, has been hired by TD Securities as managing director and head of institutional foreign exchange distribution for Europe.
EBS opened to third-party vendors
LONDON - Icap is expanding access to electronic spot foreign exchange broking platform EBS by allowing selected third-party independent software vendors (ISVs) to write directly to the platform.
Looking beyond the US dollar
If 2007 was the year the US sneezed, 2008 promises to be the year in which the rest of the world catches a cold, says Cameron Umetsu, currency strategist at Nomura International in London
Clients pay a price for transparency
Although some banks appear to be experiencing initial success with the rollout of algorithmic execution services to clients in foreign exchange, it seems any extension of the portfolio of tools available could be curtailed by limited data from electronic…
FX-linked investments rise as US dollar weakens
NEW YORK - Forex-linked investments enjoyed rapid growth in the US last year, as the dollar experienced further decline.
CLS calls for operations change
LONDON - Four banks are in discussions to use a warehouse solution by settlement system CLS, in a push to reduce capacity constraints at their back offices brought on by surging ticket volumes.
Goldman Sachs launches new Redi FX platform
LONDON - Goldman Sachs has launched Redi FX, a stand-alone, single-bank foreign exchange trading platform.
NFA bans retail FX broker after failed cover-up
CHICAGO & LONDON - The US National Futures Association (NFA) has permanently barred Florida-based retail foreign exchange broker World Trade Financial (WTF) from NFA membership for a failed cover-up.
Speculation mounts over exotic FX hedge ban in India
MUMBAI - Mounting concerns over the mis-selling of exotic foreign exchange derivatives to small and medium-sized enterprises (SMEs) in India has sparked speculation of a ban on sales of the products by the Reserve Bank of India (RBI).