Articles by FX Markets Staff
UBS wins A&L's options outsourcing
LEICESTER - Alliance & Leicester (A&L) has contracted UBS to provide foreign exchange options technology to the UK bank.
S&P introduces Currency Arbitrage index
LONDON - London-based ratings agency Standard & Poor's has launched a family of indexes designed to model arbitrage strategies in the financial markets. They include the Currency Arbitrage index.
dbFX goes Spanish
LONDON - Deutsche Bank plans to extend its coverage of the retail foreign exchange market by launching margin trading platform dbFX in additional European languages this year.
Morgan Stanley merges fixed income
NEW YORK & LONDON - Morgan Stanley has merged its fixed-income trading operations into a single unit, one month after announcing a net revenue loss of $7.9 billion in the fourth quarter of 2007.
Citi launches Japan desk in India
NEW DELHI - Citigroup is launching a Japan-focused desk in New Delhi at the end of January, to cater to a growing number of Japanese corporate clients in the country.
Yen stands strong
Philip Brass, global head of CitiFX flows in London, predicts a prolonged period of yen strength as holders of short yen positions change their investment strategies
CFTC stays quiet on forex scam
WASHINGTON DC - The United States Commodity Futures Trading Commission (CFTC) said it could neither "confirm nor deny" the existence of an investigation by its offices into a US man who allegedly defrauded investors millions of dollars.
Danske Markets expands with GFI's Fenics FX
LONDON - Danske Markets is rolling out pricing and risk management software Fenics FX in Copenhagen, Stockholm, Helsinki, Oslo, London, Dublin, Belfast, Luxembourg and Warsaw.
Reduced growth will fuel FX competition
As the market gears up for a fresh year of activity, Patrick Lefler, FX consultant at Wall Street Systems, predicts the key FX market developments in 2008
FX adds shine to banks' Q4 results
BOSTON & NEW YORK - State Street's acquisition of Currenex led the US bank to a strong 2007 fourth-quarter performance, despite the year's subprime woes.
Reuters launches enhanced prime brokerage service
LONDON - Ten banks and buy-side clients have begun using a revamped prime brokerage offering by Reuters to trade over electronic trading system Spot Matching.
Reuters launches enhanced prime brokerage service
LONDON - Ten banks and buy-side clients have begun using a revamped prime brokerage offering by Reuters to trade over electronic trading system Spot Matching.
FX market goes back to fundamentals
LONDON - A correction in overvalued currencies and risk aversion will promote strategies based on economic factors and real value this year, say analysts.
UBS launches Greenhouse Index
LONDON - UBS is set to launch UBS Greenhouse Index (UBS-GHI), a tradable investment benchmark tracking a combination of weather futures and greenhouse gas emissions credits, on January 23.
US banks in management shake-up
GLOBAL - Lehman Brothers and Merrill Lynch have seen a shake-out of senior management globally as the banks began paying out bonuses last week.
UBS loses staff to Julius Baer
SINGAPORE - Bank Julius Baer has expanded its marketing team in Singapore with senior hires from Swiss rival UBS.
Dah Sing Bank deploys Fenics FX
HONG KONG - Dah Sing Bank has begun using foreign exchange options pricing and risk management system Fenics FX, developed by interdealer broker GFI, at its Hong Kong-based treasury department.
Tullett Prebon expands product range in Japan
LONDON & TOKYO - Interdealer broker Tullett Prebon has restructured its Tokyo joint venture with broker-dealer house Central Tanshi, a move that will have a big impact on revenues coming out of Japan, a company official told FX Week .
NFA shuts down four FX dealers
CHICAGO - Four foreign exchange brokers were forced to close operations last month after failing to meet the National Futures Association's (NFA) $5 million minimum net capital requirements.
GFI trades first interbank rouble swaption
Interdealer broker GFI Group brokered the first interbank over-the-counter ruble interest rate option trade at the end of November.
Barclays promotes four FX managing directors
LONDON & FRANKFURT - Barclays Capital's foreign exchange division has started the new year with four new managing directors.
Nordea builds algorithms
COPENHAGEN - Nordea plans to begin using algorithms for trading and risk management within the first half of this year, a senior official has told FX Week .
Swedbank goes live with e-FX price stream
STOCKHOLM - Swedbank plans to offer streaming foreign exchange rates over its proprietary platform and multi-bank platform, FXall, by the end of this month.
CME e-trading upgrades save time and money
CHICAGO - CME Group has announced several product and technology enhancements aimed at reducing response time and cost.