Articles by FX Markets Staff
US recession prompts call for recoupling
LONDON - A US recession this year would prompt a "recoupling" of non-US growth on an absolute if not relative basis, according to speakers at Goldman Sachs' annual foreign exchange conference in London last Wednesday (February 6).
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.
Merrill Lynch culls global head of forex position
LONDON - Merrill Lynch embarked on yet another change in strategy for foreign exchange by making the global head of foreign exchange role, held by Harry Culham in London, redundant last week.
Parker FX down in December
STAMFORD, CT - The Parker FX index produced a 0.39% loss in December, as managers were hit by increased volatility in the currency markets.
City Index seeks a retail FX solution
City Index's acquisition of online foreign exchange trading company FX Solutions last Wednesday (February 6) marks a significant push by the company to gain traction in the global retail FX market, particularly given the price!
Pimco reaps "great" currency returns
LONDON & MUNICH - Fixed-income specialist fund manager Pacific Investment Management Company (Pimco) is confident to reap "great" returns from its first currency fund, according to Thomas Kressin, a Munich-based senior portfolio manager at the firm.
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).
New global head of sales for Deutsche
NEW YORK - Richard D'Albert is set to become global head of sales at Deutsche Bank, based in New York.
Three EU states face legal action over Mifid
The European Commission (EC) is referring member states the Czech Republic, Poland and Spain to the European Court of Justice over non-implementation of the Markets in Financial Instruments Directive (Mifid).
Morroccan bank BCP signs up to FenicsFX
CASABLANCA - Casablanca-based La Banque Centrale Populaire (BCP) is implementing foreign exchange options pricing and risk management system FenicsFX this month, in a bid to maintain its position in an increasingly "sophisticated" market, the bank said.
Saxo appoints operations chief
COPENHAGEN - Saxo Bank appointed Tobias Straessle, former chief information officer, to a newly created position as chief operating officer in Copenhagen last Wednesday (February 6).
Bonuses disappoint
LONDON & NEW YORK - Banks are looking out for up-and-coming foreign exchange sales and trading stars in this year's bonus round, according to a survey of leading recruitment specialists in the FX industry.
How to get more from your basket
Duncan Farnsworth, director, currency structuring group, at the Royal Bank of Scotland in London, explains how to improve the performance of basket structures
Nordea signs up with SuperD
COPENHAGEN - Nordea will use data and software vendor SuperDerivatives' market data feed to ensure price transparency, and assist with accounting and regulatory compliance.
FX Solutions live with GTS Web, FX Accucharts
New York-based retail trading company FX Solutions went live last Monday (January 28) with GTS Web, a browser-based version of online trading front-end system GTS Pro.
Deutsche appoints new spot and options head
LONDON - Deutsche Bank has named Rob Mandeno as its global head of foreign exchange spot and options, based in London.
There are lessons to be learned from SG
As the barrage of revelations detailing the events leading to the €4.9 billion rogue-trading losses at Société Générale continues, so too do theories on how the French bank could have overlooked the activities of its junior equity index futures trader.
Three simple steps towards risk immunisation
Société Générale - there but for the grace of God? Justyn Trenner and David Poole, principals of client strategy firm ClientKnowledge in London, offer a short check-list of factors to protect against a similar occurrence
London still top of the forex markets
LONDON, NEW YORK, TORONTO & SINGAPORE - London holds firm as the leader of the foreign exchange world, as year-on-year forex growth in the UK continues to outstrip that of the US, according to the latest figures released by regional trade bodies.
Lloyds TSB goes live with MarketsLink
LONDON - Lloyds TSB plans to double its electronic customer base in 12 months on the back of a substantial upgrade to its online platform, according to bank officials in London.
Olsson takes top role at RBS/ABN merger
LONDON - Patrik Olsson, global head of macro trading at ABN Amro, is the new London-based global head of local markets at Royal Bank of Scotland's (RBS) and ABN Amro's joint foreign exchange trading operation.
EM indexes stand strong
LONDON & NEW YORK - Indexes linked to emerging market currencies have withstood market shocks, as products launched in the past year show steady returns.