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Credit Suisse advances in Asia forex
HONG KONG & SYDNEY - Credit Suisse released its advanced execution service (AES) for foreign exchange in Asia last month, following the system's US and European rollout earlier this year.
Icap still best broker for forex
Icap holds onto its crown as best broker for spot FX ahead of rival Thomson-Reuters.
Best FX Bank Awards: Barclays Capital has e-trading edge
Barclays Capital has usurped UBS to take pole position as the best bank for electronic trading, after coming second in last year's rankings.
Mizuho hires ex-Lehman e-trading team
TOKYO - Mizuho Financial Group, the Japanese bank, has hired 16 former Lehman Brothers staff to help kick-start its electronic trading business.
Citic Group in currency bail-out
HONG KONG - Citic Pacific has reached an agreement with parent company Citic Group to provide financial support to meet liabilities from exposure to leveraged FX contracts disclosed on October 20.
Thomson Reuters shows eye for detail
Thomson Reuters has retained first place as best vendor in the dealing technology category thanks to a focus on detail, according to Paul Allmark, global head of Reuters Electronic Trading (RET).
Customers look to HSBC for stability
HSBC has held on to its title of best bank for foreign exchange in the Asia-Pacific, as customers flock to dealers with a long-standing history in the region during the market turmoil.
Diversity key to success for FXall
FXall has triumphed in the best multibank foreign exchange portal category for the seventh consecutive year.
Chicago's wind of change
Felix Shipkevich, general counsel at CMS Forex in New York, highlights the difficulties of applying similar regulations to retail foreign exchange and the exchange-based commodities and futures markets
Goldman sacks top FX performers in London
LONDON - Goldman Sachs' attempts to cut costs have led to some of the bank's top foreign exchange performers losing their jobs, according to a market source.
UBS posts record Q3 FX revenues
ZURICH - UBS reported record foreign exchange and money markets revenues in the third quarter of this year, reaching $1.3 billion.
Clients switch on to Portware FX
NEW YORK - Portware has seen a 70% increase in clients using Portware FX, its real-time foreign exchange aggregation system, since the start of 2008, according to Harrell Smith, head of product strategy for the firm in New York.
Lehman's Burgess now at ING
LONDON - Ian Burgess, formerly of Lehman Brothers, has joined ING's institutional sales division in London.
WestLB drops RealStream
DÜSSELDORF - WestLB is no longer using Cognotec's RealStream Manager and has signed up to Eurobase's Siena Gateway, in a move to streamline its electronic foreign exchange infrastructure.
'Instividual' investors switch on to FX
One area of the foreign exchange market that appears to be continuing on a healthy growth trajectory is retail FX trading, according to research released last week.
StatPro chooses GFI for options data
LONDON - StatPro, a London-based vendor of analytics and data systems for the asset management industry, has signed a contract to use GFI's foreign exchange options data in its pricing and risk management services.
Investors shun FX-only funds
LONDON - Fund managers are abandoning foreign exchange-only funds in favour of currency overlay programmes, according to research by London-based client strategy firm ClientKnowledge.
South Korea hits back at foreign media
SEOUL - The South Korean government hit back at foreign media last Wednesday (October 29), claiming Korea is better positioned to withstand the global economic crisis now than it was during the 1997 Asian crisis.
RBS sells e5m note linked to new FX Radar
LONDON - Royal Bank of Scotland (RBS) has sold its first structured product linked to the new FX Radar Index, an automated index linked to 20 emerging market currencies.
Citi's Sherrard relocates to Asia
LONDON & SINGAPORE - Rodney Sherrard, a foreign exchange options trader for Citi in London, is transferring to the bank's Singapore office to work in correlation trading.
UBS chops 13 in forex
ZURICH - Stephane Treny, global head of foreign exchange corporate sales for UBS, was one of 13 redundancies from the FX team at the Swiss bank's Zurich office last Tuesday (October 28).