Articles by FX Markets Staff
Lloyds shifts trading capabilities
LONDON – London-based Lloyds TSB bank is moving all staff to a building at 10 Gresham Street in the City of London.
BarCap joins algo bandwagon
LONDON – Barclays Capital (BarCap) has joined a select group of banks that has started offering algorithmic trading for forex over their single-bank platforms.
AIB to pay €30m for overcharging
DUBLIN – Allied Irish Bank (AIB) is to pay over €30 million in further damages relating to foreign exchange overcharging, ending a two-year investigation into the matter.
AIB to pay €30m for overcharging
DUBLIN – Allied Irish Bank (AIB) is to pay over €30 million in further damages relating to foreign exchange overcharging, ending a two-year investigation into the matter.
Hungarian riots fail to dent market
Political turmoil in the Hungarian capital produced sharp moves in the forint last week, but the currency remains relatively stable as the prime minister held onto power.
Thailand coup makes little impact on baht
BANGKOK – Last week’s military coup in Thailand is unlikely to have a lasting impact on the baht, according to analysts in the region.
Tullett Prebon benefits from market volatility
LONDON – First half results at Tullett Prebon benefited from volatile market conditions in FX, interest rate derivatives and energy, according to the interdealer’s interim report released last week.
Cuts follow ABN Amro research merger
LONDON – ABN Amro has merged its FX, credit, rates, strategy and economic research into one global team, resulting in at least seven redundancies.
First OTC rouble basket deal
LONDON – Interdealer broker GFI has completed the first interbank over-the-counter rouble basket trade. The six-month trade has a notional value of $100 million, with an at-the-money forward strike price of 29.70. The weighted ratio was 60% dollar, 40%…
Politics and the pound
There are parallels between Tony Blair’s current situation and the period around Margaret Thatcher’s demise when the pound crashed out of ERM, write Peter Luxton, global markets adviser, and Stuart Bennett, head of European economics at Informa Global…
Bloomberg revamps FX Dealing system
NEW YORK – Data and trading technology vendor Bloomberg has released a revamped version of its single and multibank request-for-quote (RFQ) system, FX Dealing.
SG CIB realigns FX business
LONDON & PARIS – SG Corporate and Investment Banking (SG CIB) plans to realign its foreign exchange business within a new fixed income, currencies and commodities division early next year.
Currency is the best global indicator
The strife in Thailand and Hungary this week proves how valuable the FX markets can be in offering an insight to those who want to know what is really happening in seemingly disaster-struck economies.
e-Mid opens to Turkey
ISTANBUL – Interbank deposit market e-Mid is to open to Turkish banks, in a bid to drive revenues and access more liquidity from this rapidly developing market.
Morgan Stanley held back by poor Q3 currencies and interest rates results
NEW YORK – Third quarter results from fixed-income trading and sales at Morgan Stanley were held back by weak performance in currencies and interest rates, according to results released last week.
CME names first market-makers for Korea futures contracts
SEOUL – The Chicago Mercantile Exchange (CME) has announced the selection of five banks as the first market-makers for CME Korean won futures contracts.
Bank of America adds to ETS
Bank of America is enhancing its suite of e-trading capabilities to include live options execution, improved pricing and risk management among other new features.
FXdirekt expands eastern European footprint
Krefeld/Oberhausen – Online forex bank FXdirekt Bank is targeting its foreign exchange trading platform FEXtrader to Polish and Czech investors.
Deutsche reorganisation sees commodities stripped from FX
LONDON – Deutsche Bank has restructured its forex capabilities, promoting global head of currencies and commodities Jim Turley to head the institutional client group.
Merrill Lynch swoops on top Dresdner Kleinwort trio
LONDON – Merrill Lynch raided Dresdner Kleinwort last Thursday to take the bank’s most senior foreign exchange personnel.
Bear builds metals business
NEW YORK – Bear Stearns has expanded its FX-aligned precious metals group to a global full-service hard-asset business through making hires and introducing product capabilities.
More fraud uncovered by CFTC
WASHINGTON, DC – The US Commodity Futures Trading Commission (CFTC) has settled a forex fraud action resulting in over $2.5 million in civil penalties.