Articles by FX Markets Staff
Parker Global launches investable forex index
STAMFORD, CONNECTICUT – Investment consultant Parker Global Strategies (PGS) has launched PGS FX Alpha Edge, an investable foreign exchange index.
Bear Stearns to expand in London, following global plan
LONDON – Bear Stearns is to grow its London-based FX business in line with the bank's wider growth plans, that could see it as much as triple its current staffing levels in the city.
Rivals are set to gain from merger of French brokers
LONDON – The announcement of a proposed merger between Société Générale's Fimat and Calyon Financial has already prompted some staff to start looking for alternative employment, say market sources.
PVB goes live with Misys cross-asset system
MANILA – Philippine Veterans Bank (PVB) has gone live with cross-asset processing system Misys Opics Plus for its FX business.
Currenex builds out order types
LONDON – Currenex has released version 9.0 of its trading software, which sees the inclusion of advanced order types.
US banks report strength in last quarter of 2006
NEW YORK – US banks have reported a positive set of results from their currencies business for Q4 2006. The currencies business helped to push revenues higher in most of the banks, but dented the fixed-income revenues at Goldman Sachs.
CLS reports record number of one-day payment instructions
NEW YORK – CLS Bank has set a new record for the payment instructions settled in one day, with more than 700,000 transactions settled over the platform.
Traders shrug off MoFE measures
SEOUL – Traders have shrugged off new measures introduced by the South Korean government aimed at curbing rapid appreciation in the won.
BarCap FX chief rumoured to be Asia bound
LONDON & SINGAPORE – Ivan Ritossa, London-based global head of FX at Barclays Capital, is rumoured to be relocating to Singapore.
BarCap FX chief rumoured to be Asia bound
LONDON & SINGAPORE – Ivan Ritossa, London-based global head of FX at Barclays Capital, is rumoured to be relocating to Singapore.
4Cast back to full EM force
LONDON – Research firm 4Cast has made two new hires to bolster its emerging markets FX division.
G10: a roadmap for 2007
Teis Knuthsen, head of FX research at Danske Bank in Copenhagen, outlines a roadmap for G10 currencies in the first half of 2007
Brokerage consolidation is back in the spotlight
PARIS – Consolidation of the broking industry is looming large again, with last week's announcement by Société Générale and Calyon that they were in exclusive talks to merge brokerages Fimat and Calyon Financial.
E-commerce and algo trading to drive recruitment this year
LONDON – Headhunters are predicting that the next 12 months could see a significant amount of staff turnover in the FX market.
Former IFX FX chief set to join Hotspot
LONDON – Kevin Gillespie, former head of foreign exchange at IFX Markets, is to resurface at electronic communications network Hotspot FXi, say market sources.
India pledges to pursue a less restrictive FX strategy
MUMBAI & HONG KONG – Indian prime minister Manmohan Singh issued a statement last week, confirming the country's commitment to gradually move towards a less restrictive forex regime.
Oregon state, CFTC fines Orion founder
OREGON – The US Commodity Futures Trading Commission (CFTC) and the District Court of Oregon have fined Russell Cline, founder of foreign currency trading firm, Orion International $33 million.
FXall volumes surged 45% in 2006 on growing market
LONDON – Trading volumes on multibank platform FXall surged 45% in 2006, with over $9.8 trillion traded on a single-count basis.
JP Morgan launches Bloomberg IR options
LONDON – JP Morgan has begun trad- ing over-the-counter interest rate options on Bloomberg's multi-dealer trading platform.
ABN Amro cuts back London forex staff
LONDON – ABN Amro has made cuts to its London FX team, resulting in the departure of John Marley, European head of sales.
Consolidation is the key theme
The theme of consolidation in the brokerage industry continues this year, with Société Générale and Calyon confirming exclusive negotiations to merge their brokerages Fimat and Calyon Financial. But what happened to all that talk about consolidation in…
Tradition poaches Tullett Prebon personnel
LONDON & JOHANNESBURG – Interdealer broker Tradition has raided Tullett Prebon, as it expands its emerg- ing markets capabilities in London and Johannesburg.
BarCap poaches Lee amid changes in GRCB division
SINGAPORE & LONDON – Barclays Capital has poached Alvin Lee from Citigroup in Singapore, to help develop dual-currency deposits as a consumer banking product within Barclays.