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FX Markets Staff

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Articles by FX Markets Staff

Will intervention work?

European Central Bank intervention could spark a battle with the foreign exchange market, says Mitul Kotecha, head of global foreign exchange research at Calyon in London

EBS nabs Saudi business

LONDON & RIYADH - Spot broker EBS has signed its first Middle Eastern banking customer onto EBS Prime, its professional foreign exchange prime-brokerage solution.

GFT adds new currency pairs

ADA, MICHIGAN - Online currency trading firm Global Forex Trading (GFT) has added 59 new currency pairs to its list of tradable FX pairs.

Carry strategies are thriving in Asia

SINGAPORE - Carry models have proliferated in Asia as alpha-generating strategies over the past four years, according to Thomas Harr, senior FX strategist at Standard Chartered in Singapore.

Malaysia relaxes FX regulations

KUALA LUMPUR - Malaysia's central bank, Bank Negara Malaysia, abolished a series of registration requirements for residents on October 1, paving the way for more trading and hedging products in the Malaysian FX market (see box).

CME FX volumes rising

The Chicago Mercantile Exchange (CME) recorded an average daily volume of 634,820 contracts for foreign exchange in September. This is a 22% rise from 520,000 contracts a day in September 2006, and represents a notional value of $79 billion.

Talk of revaluation

The independent monetary stance recently taken by many Middle East states is likely to add to speculation about a revaluation, according to Chris Turner, head of FX strategy research at ING wholesale banking in London

Is the dollar dross?

Pete Luxton, global markets adviser, and Shant Movsesian, FX options manager, at Informa Global Markets in London, seek ways to benefit from the flagging US dollar

Investsberbank begins ruble trading on LavaFX Interbank

Investsberbank has begun quoting USD/RUB and EUR/RUB on electronic communications network LavaFX Interbank. The first USD/RUB trade was carried out on October 2 between the Russian bank and an undisclosed counterparty. The notional value of the trade was…

Investec targets SME FX

LONDON - Investec Capital Markets, a division of Investec Bank, has launched a new corporate foreign exchange desk in London targeting small to medium-sized enterprises (SMEs) in the UK.

Losses abound on Parker FX

STAMFORD, CT - The Parker FX index was down 1.54% in August, with markets characterised by skyrocketing volatility spurred by unwinding yen-based carry trades.

FXMS and EBS trading back to normal

CHICAGO & LONDON - FXMarketSpace and electronic spot broker EBS recorded a decline in average daily volumes in September, demonstrating a return to normal levels of trading after a highly volatile August.

Eley gathers MMI clients

NEW YORK - John Eley, former president and chief executive at electronic communications network Hotspot FX, has signed seven banks for his new data analytics company, Managed Models Inc (MMI) in New York.

Merrill loses global FX head

LONDON - Tim Carrington, global head of foreign exchange trading at Merrill Lynch, has left the US dealer nine months after joining.

WestLB expands e-trading

DÜSSELDORF - WestLB has hired Christopher Johnson, former e-trading distribution specialist for VIP clients at UBS, in a newly created role as head of e-trading in its liquid markets business.

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