Trading
Russian derivatives trading dominated by FX
Foreign exchange derivatives made up 92.9%, or $48.6 billion, of total monthly derivatives volume at Russian banks in 2006, according to a survey by the National Foreign Exchange Association of Russia.
Record trading day for Hotspot FXi
LONDON & NEW YORK – A spike in currency market volatility last Thursday (August 16) resulted in a record trading day over electronic communications network Hotspot FXi, led by client-to-client trading activity.
Risk aversion favours the dollar
The greenback is, paradoxically, likely to benefit from the recent spate of risk aversion brought on by the subprime crisis, writes Mansoor Mohi-uddin, chief currency strategist at UBS Investment Bank in London
FXMarketSpace volumes halve in July
LONDON & CHICAGO – Average daily volumes on FXMarketspace (FXMS) fell to $539 million last month – almost half the record $933 million set in June.
Barren greenback boosts Merrill
A bearish view on the US dollar led Merrill Lynch to top the one-month currency forecast tables, according to Emma Lawson, G10 FX strategist at the bank in London.
FOMC slouches towards neutrality
According to Robert DiClemente , chief US economist at Citi in New York, the lingering policy bias should not dissuade markets from anticipating an eventual reversal
Reuters reports record volumes
LONDON – As volumes on FXMarketSpace decline, electronic broker Reuters reported a record trading day in July.
EFX options broking sparks into life
Competition in electronic FX options broking is intensifying, with electronic brokers rolling out new tools to capture the growing business opportunity.
HSBC drawn up by drawdown
HSBC beat Merrill Lynch, Barclays Capital and Bank of America in FX Week 's one-month currency forecast rankings, by predicting the carry trade would unwind.
The effects of the subprime crisis
According to Michael Woolfolk , New York-based senior currency strategist at Bank of New York Mellon, US market players will focus on evolving developments in the subprime crisis, with global equities the preferred barometer for market risk aversion
London FX volumes soar
LONDON & NEW YORK – Forex volumes in London have outstripped those of rival trading centres, as the city continues to reap the benefits of emerging market flows and dual time zones, according to figures released last week.
Weak greenback benefits Scotia
Scotia Capital topped this week's one-month historical index by predicting broad weakness in the US dollar, said Camilla Sutton and Stephen Malyon, currency strategists at the bank in Toronto.
Hedging the carry trade
How can an investor make the most of the carry trade? Lee Ferridge , head of trading strategy at Rabobank in London takes a look
The value in Asian currencies
Where does the value lie in Asian FX? David Mann , senior FX strategist at Standard Chartered Bank in Hong Kong investigates
Reuters' outage feeds rival volumes
LONDON – Reuters Group's matching platform experienced an outage in Australasia last Monday (July 23), causing a spike in dealing volumes on rival platform EBS, according to market sources.
Icap expands FX trading with sterling/Swiss pair
London-based interdealer broker Icap has today (July 30) launched trading in sterling/Swiss franc currency pair.
RBS's subprime prediction pays off
Royal Bank of Scotland (RBS) topped the one-month currency forecast tables this week, by predicting the US subprime mortgage market would lead a sell-off in credit markets.
Safeguarding against carry correction
It would be prudent to protect profits from a potential correction of recent carry trade trends, says Ian Stannard , Senior Currency Strategist at BNP Paribas in London
ETrade to launch US retail FX trading
NEW YORK – Electronic broker ETrade will make FX trading available to US retail investors in five currencies via its Global Trader platform by this Friday (July 27). GlobalTrader has been piloting since February ( FX Week , February 26).
Sterling shifts towards fixed-income
Sterling's sources of strength amid slowing M&A activity are analysed by David Bloom and Paul Mackel , of HSBC's London-based FX strategy team
VWD switches FX providers to Tenfore
FRANKFURT – Data vendor VWD Group is to replace FX data provided via its internet- and terminal-based data products with new data sourced from UK-based Tenfore Systems' Tenforex feed, officials said.
GL Trade acquires Infotec in forex push
PARIS – Technology vendor GL Trade has purchased Infotec, a Swiss real-time market data vendor, to extend its coverage of products and increase its buy-side presence. Infotec's FX trader and treasury management users will in turn use GL Trade's order…
Icap speeds up FX data feed
LONDON – Interdealer broker Icap last week (July 11) announced it had improved its EBS Live spot data feed by reducing processing and communication latency.