Trading
Retail platforms in currency expansion
NEW YORK - Online FX trading companies CMS Forex and FXCM have added new currencies to their trading platforms, allowing retail traders to trade in emerging market currencies.
Icap quells fears with positive Q2 results
LONDON - Interdealer broker Icap quelled fears over the future performance of its businesses last week, by reporting a 15% rise in second quarter revenues compared with the same period last year.
Parker FX Index back on track in May
STAMFORD, CT - The Parker FX Index recorded a 0.08% return in May as the US dollar appreciated 0.5% against a basket of G-6 currencies.
Time for a rethink
The weak dollar and high implied volatility in currency markets has claimed a number of victims in the corporate sector. Dealers discuss the shift in clients' hedging strategies. By Gail Mwamba
Scandinavian currencies boost Tradebook FX expansion
LONDON, NEW YORK & SINGAPORE - Bloomberg Tradebook FX has added Scandinavian currencies to its FX outrights trading, bringing the total number of currency pairs to 32.
Pakistan shuts rupee FX forwards
KARACHI - The State Bank of Pakistan suspended foreign exchange forwards trades and shortened FX trading hours last Wednesday (July 9), in a bid to curb a sharp devaluation of the rupee (PKR) against the US dollar, say local traders.
Dresdner makes bold 12-month call
Dresdner Kleinwort topped this week's 12-month forecast rankings by predicting a significantly weaker US dollar as the US housing market woes spread into the wider economy.
Talk isn't so cheap
Will the G-7 precipitate a major dollar turning point through stronger rhetoric or co-ordinated intervention? Arnab Das, global emerging markets and FX strategist at Dresdner Kleinwort, expects beefed-up rhetoric, but no action, yet
Credit Suisse integrates forex algos into Minerva OEM
LONDON - Credit Suisse has become the first broker to integrate foreign exchange smart routing and algorithmic execution strategies into Fidessa LatentZero's Minerva order and execution management system (OEMS), with automated execution services (AES) FX.
Yield strategies pocket best returns
LONDON - Currency managers running yield strategies typically bagged the highest returns in June, according to research by ABN Amro.
Merrill Lynch's trend focus pays off
Merrill Lynch topped this week's three-month forecast rankings by predicting a mild dollar recovery against G-10 currencies, on the back of a trend in improved external imbalances in the US.
The JB Currency Hedge Fund thrives on risk aversion
LONDON - Augustus Asset Manager's currency fund delivered an 18.87% net-of-fees return in its first 11 months by avoiding risk in emerging markets and G-3 currencies.
CME posts surge in Q2 forex volumes
CHICAGO - The Chicago Mercantile Exchange (CME) reported a strong increase in contract volumes in second-quarter results released last Tuesday (July 1).
The end of an era
Teis Knuthsen, head of foreign exchange research at Danske Bank in Copenhagen, says rising inflation could force a shift in the underlying FX regime of the past decade
More currency ETFs hit US
NEW YORK - Two more currency-linked exchange-traded funds (ETFs) were listed on the New York Stock Exchange's NYSE Arca on June 25.
BNP Paribas shines as greenback rallies
BNP Paribas' expectations of a rebounding greenback placed the bank at the top of the one-month currency forecast rankings, as the US monetary authority signalled a hawkish stance.
Automated FX trading models provide diversified alpha
David Popplewell, director of currency structuring at RBS in London, says to look beyond carry baskets and actively managed foreign exchange allocation to generate alpha from FX
Time to tighten the belt
Marc Chandler, chief currency strategist at Brown Brothers Harriman in New York, considers how the fight against rising inflation will affect markets around the globe
New generation CEP for forex liquidity
A white paper being released today (June 30) is set to evangalise the benefits of using adaptive complex-event processing (CEP) technologies for liquidity management in foreign exchange.
HSBC emerges in Georgia
TBILISI - HSBC is capitalising on rising demand for forex services in the former Soviet Union by opening its first commercial banking branch and head office in Georgia.
Quant demand in full force
GLOBAL - The high demand for quantitative foreign exchange specialists continues, fuelled by concerns over risk controls and growth in local currency derivatives and hybrid derivatives trading, industry sources have told FX Week .
BMO opens branch in Shanghai
SHANGHAI - BMO Financial Group opened its Shanghai branch on May 13th. Initially a representative office, the branch has been upgraded in a bid to increase the bank's coverage of the Yangtze River Delta region.
Icap breaks into retail forex market
LONDON - Icap is breaking into the lucrative retail foreign exchange market by teaming up with London-based retail equity and FX trading sister company City Index, senior officials tell FX Week .