Trading
Harsh climate suits Aus FX
SYDNEY - Australian foreign exchange dealers expect to continue benefiting from increased deleveraging and client hedging activities seen since September.
Averting the crisis
Nicholas Kwan, regional head of research, Asia, at Standard Chartered in Hong Kong, says Asian countries need to work together to avert the worst effects of the financial crisis
E-trading could free Asia from dollar dependency
SINGAPORE - The expansion of electronic trading could lessen Asia's dependency on the US dollar as a vehicle currency, according to Yosuke Tsuyuguchi, director of Bank of Japan's Centre for Monetary Co-operation in Asia.
CME launches lira currency futures
CHICAGO - The Chicago Mercantile Exchange (CME) has launched Turkish lira currency futures, in an effort to deepen its footprint in emerging markets (EM) currencies.
Calls on low yielders overpriced
GLOBAL - Dealers report an overpricing on calls in low-yielding currencies, as investors move into less risky assets.
BNP Paribas ups the ante in forex
LONDON - BNP Paribas plans to roll out a new foreign exchange trading platform to select clients by the end of the year, in a bid to grow its presence in FX.
A return to vanilla
GLOBAL - Banks are preparing for a vanilla year next year in the derivatives market, as investors seek transparent structures in an environment of heightened volatility and inconsistent liquidity.
Lloyds riding high on flight to safety
Lloyds TSB topped this week's one-month forecast rankings, shortly after topping the three-month table, owing to a bullish yen and US dollar view based on volatility in the currency markets.
Calyon tops charts with supple view
Calyon topped this week's one-month historical index with a timely transition from a bearish US dollar view to a bullish one.
Forex derivatives under scrutiny
MEXICO CITY - Mexican authorities will interview banks selling currency derivatives to corporates in the country, as part of an investigation into irregular reporting of exposures by listed companies.
Swissie set to replace greenback in Russia
Igor Suzdaltsev, head of financial institutions at OTP Bank (Russia) in Moscow, explains why he believes Russia will switch affections from the US dollar to the Swiss franc
FX traders exercise caution
GLOBAL - Traders worldwide continue to avoid dealing with each other, despite co-ordinated efforts by global central banks to ease the turmoil in the financial market through rate cuts and fund injections.
A delicate phase for the euro
Audrey Childe-Freeman, senior currency strategist at Brown Brothers Harriman in New York, evaluates the prospects for the euro
Japan traders dump short yen positions
TOKYO - Japanese retail foreign exchange margin traders abandoned $16 billion worth of short yen positions within days last week, in a scramble to limit losses from unwinding carry trades.
Colombia fruitful for Citi settlement
BOGOTA & NEW YORK - Citi's Colombia-based domestic settlement service began settling more than $1.3 billion in FX trades daily in September, representing in excess of 80% of the Colombian wholesale FX market.
Strike while the iron is hot
Pete Luxton, economic adviser, and Shant Movsesian, manager, foreign exchange options, at Informa Global Markets in London suggest a basket strategy to play euro weakness
Asia's tigers show their stripes
For Nick Chamie, head of emerging markets research at RBC Dominion Securities in Toronto, memories of Asia's 1997 meltdown are resurfacing as concern grows in the region
JSE trades first $20m options contract
JOHANNESBURG - The Johannesburg Stock Exchange (JSE) has traded its first currency options contract with a notional value of $20 million.
Króna in chaos during Iceland's meltdown
REYKJAVIK - Confusion reigned in Icelandic króna trading last week, as the country's central bank, Sedlabanki, abandoned its peg to a basket of nine currencies a day after it was effected.
Korea's KEB begins trading on EBS
SEOUL - Interdealer broker Icap is deepening its footprint in the emerging markets, with Korea Exchange Bank (KEB) now using its spot-broking system, EBS.
ICE launches FX futures
ATLANTA - The Intercontinental-Exchange (ICE) is launching ICE Millions, a suite of foreign exchange futures contracts, on November 6, in the latest move by an exchange to capitalise on fears over counterparty credit risk.