Trading
BIS: FX derivatives growth rate slows
The over-the-counter FX derivatives market has seen a slowdown in growth rate following the financial crisis, as revealed in the Bank for International Settlements’ (BIS) triennial foreign exchange survey and its semi-annual OTC derivatives statistics.
BarCap still number one for e-FX
Barclays Capital held onto its crown as best bank in electronic trading for the third year running, while also moving up to first place for currency options and post-trade services categories.
FXall shines as professional electronic trading venue
FXall has claimed the top spot for electronic trading venues, ousting FXConnect, which drops to second place this year.
Clearing saga threatens structured products
Citi has usurped Barclays Capital as best bank for structured products, a category that could be in the spotlight as regulations are clarified.
RBS bucks downward FX trend
Royal Bank of Scotland (RBS) bucked the downward FX trend among dealers, reporting its first year-on-year rise in revenues in 2010 from its currencies and commodities division in the third quarter.
Forex booms across major platforms
Electronic brokers reported record-breaking trading volumes in October, reflecting a continued upward trend in FX and an interest in commodity currencies.
BNP Paribas live on Harmony Netlink by next week
BNP Paribas will go live on Traiana's Harmony Netlink by next week pending test results, according to Marco Baggioli, European head of FX prime brokerage at the bank in London.
BGC's forex revenues rise in Q3
BGC Partners reported a 24% rise in brokerage revenues from foreign exchange to $44.4 million in the third quarter versus the same period last year, it announced last week.
Short-volatility strategy wins in October
Currency managers using the short volatility strategy were the best performers in October, indicates research from Royal Bank of Scotland.
Deutsche first client on Traiana Harmony for ETD
Deutsche Bank is the first bank to go live with Traiana’s new Harmony network to manage exchange-traded derivatives (ETD), it announces today (November 1).
FXall and EBS roll out fractional pricing
Fractional pricing is being rolled out at FXall across 72 currency pairs, including EUR/USD, on November 1 as EBS continues its phased rollout.
PPP still has legs in the USD/CAD market
Irene Aldridge, quantitative portfolio manager at Able Alpha Trading, and Steven Krawciw, wealth management executive at Credit Suisse in New York, look at the value of PPP in quant strategies
Parker FX: Rules-based currency managers rule in September
The Parker FX Index made a return of 1.64% in September, as currency markets favoured the euro and commodity currencies over a depreciating dollar.
Deutsche takes the top spot for FX in Q3
ZURICH & FRANKFURT – Deutsche Bank has proved its FX credentials by being the only bank so far to report higher FX year-on-year revenues for the third quarter, despite lower volatility and tight spreads.
Conference speaker laments renminbi demand outstripping supply
Demand for the renminbi is outstripping supply since the unit began trading globally earlier this month, according to a trader speaking at conference held under Chatham House rules in London on October 21.
Spot FX faces clearing threat
Spot foreign exchange faces unnecessary clearing to avoid discrepancies on banks’ books, according to speakers at Global Insight Forum: The impact of regulation on the global OTC market, held in London on October 19.
Hotspot FX reports September year-on-year growth
Hotspot FX reported a 17.1% rise in average daily volumes to $33.8 billion – double count – in September, versus $28.8 billion in September last year.
US forex hits sluggish patch
NEW YORK & BOSTON - All US banks reported weak forex revenues in the third quarter this year versus last year, as volatility and volumes dropped.
SEB overhauls management structure and preps Asia push
SEB has realigned senior management to focus on key growth areas in Europe, while preparing to open up shop in Hong Kong next year to target Asian institutional investors.
Forex volumes up in September
LONDON & CHICAGO - Electronic brokers reported a year-on-year rise in trading volumes in September, reflecting a renewed appetite for risk.
Yield strategy comes up trumps in September
Carry traders would have been the top performers among currency managers in September, indicates research from the Royal Bank of Scotland.
Savi Asset Management launches in October
LONDON - Proprietary trading company Savi Trading (Savi) will launch a managed account service for FX and equity traders in October under the banner Savi Asset Management (SAM).
Fixi selects Integral to support expansion into institutional FX
LONDON - Foreign exchange broker Fixi has signed Integral as the technology vendor to support plans to target the institutional FX market, officials say.
CFTC retail FX rules fail to curb offshore trading
WASHINGTON, DC - The US Commodity and Futures Trading Commission's (CFTC) compromise to limit leverage on retail FX trading accounts to 50:1 from a proposed 10:1, is unlikely to curb the shift of retail business offshore, according to market participants.