Articles by FX Markets Staff
ACM launches Flash platform
Swiss online broker ACM - Advanced Currency Markets - has released an enhanced version of its Flash platform, the Advanced Flash Trader.
NFA cracks down on AMI
CHICAGO & LONDON - The US National Futures Association (NFA) has set a precedent by ordering one of its brokerage members to only solicit promotional material from companies registered with the Commodity Futures Trading Commission (CFTC) and the NFA.
Fed cuts may lead to Qatari de-peg
DOHA & LONDON - Two Federal Reserve rate cuts totalling 1.25% to 3% in the past two weeks have raised speculation that the Qatari riyal's dollar peg might be about to break.
Saxo Bank adds JP Morgan to its prime broker list
COPENHAGEN - Saxo Bank is using US bank JP Morgan as its prime broker to trade anonymously over electronic spot foreign exchange trading system, Reuters Spot Matching.
Nothing beats a good trading scandal
The past week has produced a frenzy of headlines, from the FTSE index hitting seven-year lows and the Federal Reserve's surprise 75 basis point rate cut, to the billions of dollars in writedowns at major dealers. But nothing grabs the attention as much…
Seeking a sterling collapse
By Pete Luxton, global markets adviser, and Dave Willmer, foreign exchange options market strategist, at Informa Global Markets in London
Saxo Bank sells 5% stake for $92m
COPENHAGEN, LISBON & LONDON - Espirito Santo Financial Group (ESFG) and subsidiary Banco Espirito Santo Group (BESG) have bought a 5% shareholding in Saxo Bank, in a move to expand the bank's electronic capabilities.
SWFs under pressure to disclose
Marc Chandler, chief currency strategist at Brown Brothers Harriman in New York, looks at why the issue of sovereign wealth fund transparency is such a heated one
Deutsche cuts forex in London
LONDON - Deutsche Bank has made five cuts to its foreign exchange team in London, as part of wider redundancies in the global markets business.
BoA scales back global FX
LONDON, NEW YORK & SINGAPORE -Bank of America (BoA) is continuing to scale back its global foreign exchange operations, with senior-level departures and desk closures last week.
Ex-BNP FX head joins Bear
LONDON - Bear Stearns has realigned senior foreign exchange management in Europe, with Loïc Meinnel, former global head of FX at BNP Paribas, taking the helm in London.
NFA fines IFX Markets $60,000
CHICAGO & LONDON - London-based futures brokerage IFX Markets has received a $60,000 fine from US industry regulator the National Futures Association (NFA).
FX thrives in South Korea
SEOUL - Foreign exchange derivatives were behind the large gains posted by banks operating in South Korea in the third quarter of 2007, according to official statistics.
Calyon chief heads Newedge
LONDON, NEW YORK, PARIS - Newedge, the joint venture institutional brokerage formed through the merger of Calyon Financial and Fimat, last week, announced its new foreign exchange line up.
Cuts at Credit Suisse
LONDON & ZURICH - Credit Suisse is closing its spot foreign exchange trading desk and reducing its southern European FX sales team in London.
Icap speeds up price info on EBS
LONDON - Interdealer broker Icap has cut latency on spot-broking system EBS Spot and market data service EBS Live, according to a letter to EBS Prime bank customers seen by FX Week .
HK bank Wing Lung licenses Fenics FX
HONG KONG & LONDON - A growth in Hong Kong bank Wing Lung's foreign exchange options business has prompted it to license GFI Group's options pricing and risk management system, Fenics FX.
Platforms see record trading in volatile markets
LONDON - Interdealer broker Icap and the Chicago Mercantile Exchange (CME) posted record trading volumes last Tuesday (Jan 22), amid an upswing in market volatility.
Rand Merchant Bank to roll out e-trading
JOHANNESBURG - Rand Merchant Bank (RMB), a division of FirstRand Bank, plans to go live with a multi-asset class electronic trading platform by Q3.
UK pension funds face cashflow crisis
LONDON - A predicted GBP downturn means pension funds in the UK need to be prepared to pay out "real money" on losses from passive currency hedges on their overseas investments, warned currency managers.
CLS product expansion welcomed
CLS's announcement last week that it has begun settling credit derivatives trades demonstrates the industry utility's efforts to reduce the unit cost and total bill for settling forex trades over the system.
Deutsche woos private clients
LONDON - Deutsche Bank has established a private clients foreign exchange team in London and Zurich, to target the expanding high-net-worth client base.