Articles by FX Markets Staff
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.
Société Générale CIB names new FICC heads
PARIS – Société Générale Corporate and Investment Banking (SGCIB) has appointed Marc Breillout and Gregoire Varenne to head the new fixed income, currencies and commodities division in Paris.
BNP Paribas overhauls e-business
PARIS & NEW YORK – BNP Paribas has overhauled its electronic foreign exchange business as it looks to establish itself as a leading player in the arena.
Traders in Thailand suffer further setback
BANGKOK – Investors in Thailand are reconsidering their allocations to the country, after the government announced a proposal that would require foreign owners of assets in strategic industries to sell down shareholdings and give up voting rights in…
ABN Amro cuts 900 jobs across North America
CHICAGO – ABN Amro is to cut 900 jobs in North America this year, which will see its workforce in the region drop by 5%. A spokesman in Chicago said the cuts "will affect almost all areas of the company, in almost all parts of the country". He declined…
A flying start to 2007
GLOBAL – The year is off to a flying start as currency markets opened with a healthy level of volatility last week, said traders.
SuperDerivatives upgrades structured products platform
LONDON – SuperDerivatives has released a new version of its interest rate options and structured products platform, SD-IR.
Top performers will see 20% rise in bonuses
GLOBAL – Top performers at global banks should expect to see bonuses rise by up to 20% this year, according to recruitment consultants in London.
A flying start to 2007 Currency strategies down in 2006
LONDON – Most currency funds are likely to have ended 2006 nursing losses, with trend followers down around 6%, according to research from ABN Amro.
Spotradar from Nostradamus predicts good times ahead
LONDON – Nostradamus, a forex predictions company, is looking to sign a raft of new clients for its Spotradar automated trading system in the next few months.
Algorithmic trading's new frontier
Happy new year! We're two weeks into 2007 and are already seeing some exciting new developments.
Traders in Thailand tied up over market reforms
BANGKOK – Reforms by the Bank of Thailand (BoT) on short-term capital inflows introduced last month are having a "drastic" effect on markets in Bangkok, say traders.
Nybot launches peso and real FX futures to support coffee traders
NEW YORK – The New York Board of Trade (Nybot) is preparing to launch futures in the Colombian peso and Brazilian real next month.
Algo trading goes mainstream
COPENHAGEN – Saxo Bank is bringing algorithmic trading into the mainstream with plans to launch an algo trading tool for retail investors this quarter.
StanChart restructures institutional sales team
LONDON – Standard Chartered has implemented a new structure for institutional sales in London, following the departure of Tara Hunt, head of global investor sales in October last year.
China launches benchmark Shibor rate
SHANGHAI – China has taken further steps towards developing its interest rates derivatives market, with the launch of the Shanghai interbank offered rate (Shibor) last Thursday (January 4).
CME posts seventh successive year of continued growth
CHICAGO – The Chicago Mercantile Exchange posted a record year in 2006, making it the seventh consecutive year of continued growth.
The USD resurgence may only be temporary
Simon Derrick, head of currency strategy at Bank of New York in London, warns that it may be too soon to be revising those dollar forecasts
Algo trading goes mainstream
COPENHAGEN – Saxo Bank is bringing algorithmic trading into the mainstream with plans to launch an algo trading tool for retail investors this quarter.
UBS beefs up its PTS Services post-trade system
NEW YORK – UBS enhanced its post-trade services last month, introducing a number of added capabilities to its post-trade processing portal, PTS Services Portal.
Currenex selects TradePVR for FIX connectivity monitoring
Santa Clarita, California – Liquidity aggregator Currenex is using the TradePVR network appliance product from Helium Systems for FIX connectivity monitoring and archiving.
The sands of forex will shift in 2007
GLOBAL – 2007 will see a big shift in the landscape of the FX industry, according to leading market participants.