Articles by FX Markets Staff
Musical chairs for Citi seniors
LONDON – Citigroup is set to make senior personnel changes in London and New York following the transfer of former London chief dealer Raymond Ng to Singapore.
The yen – a conflict of interests
Neil Parker, economist at Royal Bank of Scotland in London demystifies the 'black art' of predicting movements in the yen
ICBC and BoC introduce first foreign currency funds for Chinese investors
BEIJING – The Industrial and Commercial Bank of China (ICBC) and the Bank of China (BoC) have launched the first funds in the country to invest clients' money in foreign currency.
Sharia-compliant FX takes off worldwide
GLOBAL – Islamic FX has become a viable alternative to conventional banking and is attracting more investment as a result, say market participants.
Many ways to cater for the FX market
As yet another venue looks set to be launched into the foreign exchange market, it remains unclear which model is the most appropriate for the current climate.
BNP makes senior hires in institutional client group
LONDON – BNP Paribas has made two senior sales hires in its European institutional client group within fixed income in London.
FXall to launch anonymous platform
NEW YORK – FXall is to launch an anonymous trading platform that will target both buy-side and sell-side market participants later this year, FX Week understands.
European banks up in Q2
EUROPE – European banks have followed the trend set by their US peers, releasing a strong set of second quarter results last week.
Wall Street Systems buys Trema with private backing
NEW YORK & LONDON – Technology vendor Wall Street Systems (WSS) last week purchased Trema, another major player in treasury, FX and back-office systems, in a deal believed to be worth up to $150 million.
City Index acquires IFX
LONDON – FX broker IFX agreed last week to be acquired by spread-betting company City Index. The deal, which is subject to shareholder approval, is worth £1.80 per share or about £57.9 million.
Calypso launches middle-office tool
SAN FRANCISCO – Calypso, the US technology vendor, has launched Calypso Enterprise Risk Service (ERS), middle-office risk software for FX and other asset classes.
FXpress enhances web treasury product
BALA CYNWYD, PENNSYLVANIA – FXpress Corporation, the treasury solutions provider, has released First S6, the latest version of its web-based treasury software for corporations worldwide.
BoA adds to London staff
LONDON – Bank of America (BoA) has made a number of hires in London as it continues to expand its forex capabilities in the City.
BGC team travels to Copenhagen
COPENHAGEN – Interdealer broker BGC has relocated a team of eight brokers to Copenhagen, to set up an interest rate derivatives broking business in the country.
FXall to launch anonymous platform
NEW YORK – FXall is to launch an anonymous trading platform that will target both buy-side and sell-side market participants later this year, FX Week understands.
Gladwin starts in top FX role at Lehman
LONDON – Richard Gladwin started in his role as global head of foreign exchange at Lehman Brothers last Monday (July 31).
China approves cross-currency master agreements
BEIJING & HONG KONG – A master agreement for renminbi cross-currency forwards and swaps drawn up by China's foreign exchange regulator was approved by the State Administration of Foreign Exchange earlier this month.
Saxo to open in Spain
MARBELLA – Danish firm Saxo Bank has continued its global expansion in 2006 with the opening of a representative office in Marbella, Spain.
CME posts record volumes
CHICAGO – The Chicago Mercantile Exchange (CME) announced quarterly volume records in all product lines for the second quarter, with CME FX products increasing by 42%, averaging a record 471,000 contracts a day.
Chinese officials trained by CFTC
BEIJING – Chinese regulators last week hosted a delegation from the US Commodity Futures Trading Commission (CFTC) to help it set up a regulatory regime for futures trading.
International banks look to China for expansion
HONG KONG – Major US and global banks have been building their presence in east Asia in anticipation of growth in the region spurred by the opening of the Chinese market.
Loonie in tune with the market
The outlook for the Canadian dollar looks set to be tied to commodity prices and the global economy, says David Watt, senior economist at BMO Capital Markets in Toronto