Articles by FX Markets Staff
Citigroup launches Islamic finance products in Singapore
SINGAPORE – Citigroup has launched commodity murabaha investments denominated in the US dollar, euro, pound sterling and Singapore dollar.
The mixed blessings of co-operation
Co-operation in the foreign exchange industry has generally tended to bolster the market.
Four more currencies for JP Morgan
JP Morgan has added the forint, Czech koruna, zloty and rand to its electronic interest rate swaps trading platform.
SAFE launches FX monitoring software
BEIJING – China's State Administration of Foreign Exchange (Safe) will launch a new data collection software to monitor its foreign exchange cross border capital flows.
LiquidityHub hires chief executive, pooling banks' resources
Robert MacLeod has been made chief executive of London-based LiquidityHub, a venture that aims to electronically pool the fixed-income liquidity of 11 investment banks.
Dresdner lays off prime brokerage staff amid group-wide cutbacks
FRANKFURT & LONDON – Dresdner Kleinwort looks to be scaling back its FX prime brokerage operation, with the departure of PB head Roger Allen and Noel Singh last week.
History calls for caution on Kiwi
History suggests we may see one last squeeze higher over Christmas for the kiwi, says Rhiannon Healy, solutions specialist for ANZ in London
US options volume may break two billion
Chicago-based Options Industry Council (OIC) has reported both total US options volume and average daily options volume have increased by 36%.
BoT acts to slow baht
BANGKOK – The Bank of Thailand (BoT) last week introduced further controls to curb the rapid appreciation in the baht.
Reuters cuts EM options brokerage fees in half
LONDON – Reuters' decision to revamp its FX options matching system has increased competition for e-broking of options, with the prospect of slashed brokerage fees.
Forex fraudster fined $29 million and jailed
WASHINGTON DC & SAN DIEGO – The owner of a forex trading company has been fined $29 million and imprisoned for defrauding.
Banks team up to launch benchmark currency indexes
LONDON & FRANKFURT – Deutsche Bank, UBS and Barclays Capital have signed up with iBoxx to launch currency indexes that they say will act as an industry-wide benchmark.
Quick, look busy! Here comes Mifid
Chip Lowry , senior managing director of State Street Global Link in Europe, looks at what Mifid will mean for the foreign exchange industry
High volatility sparks trading records
LONDON & CHICAGO – High volatility over the past three weeks saw record trading flow transacted across the major trading venues.
Icap charity day raises £7.1 million
Interdealer broker Icap raised £7.1 million (US$14 million) last Thursday (December 7) in its annual charity day, where all commission on brokerage goes to good causes.
TwoFour connects to FXall
Technology vendor TwoFour Systems last week teamed up with multi-bank portal FXall to offer its clients access to prices directly through its own trading platform.
Senior changes at Lehman
NEW YORK – Lehman Brothers is making senior management changes that cut across three continents.
City Index plans new FX brand
LONDON – Spread betting firm City Index is set to launch a new FX business in the New Year, as it integrates the IFX business it bought in the summer, FX Week has learned.
Voice brokers are adapting to survive
The decision by Icap to move voice-broking staff from the majors to emerging markets shows that the company has realised that the FX landscape is evolving rapidly and is ready to evolve with it. It also demonstrates that the role of the voice broker will…
Dresdner rebuilds forex team
LONDON & NEW YORK – Dresdner Kleinwort (DK) has made three senior hires as it rebuilds it FX team after a series of departures to Merrill Lynch in September and October.
Icap switches voice brokers
LONDON – Icap is moving resources from the major currencies into emerging markets, as the interdealer broker acts to reflect the changed FX landscape.
Algo trading to double, says Eurex
CHICAGO – "The rise in activity of algorithmic traders is impressive, and it's changing the nature of electronic trading," said Andreas Preuss, chief executive of Eurex.
More top changes at BoA
LONDON & NEW YORK – Bank of America (BoA) is undertaking a further restructuring of its senior FX management team, as the bank seeks to drive its growth to the next level.
Boost for Mexican derivatives
MEXICO CITY – The Mexican derivatives market is set for expansion, with foreign participants getting access to the Mexican Derivatives Exchange (MexDer) through BT Radianz.