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US banks announce record first-quarter results
NEW YORK – The US investment banks have stormed through the first quarter of this year, with record-breaking results released last week.
The winners take it all?
In the past few years, it has become clear that the winners in FX are those that were first to commit to the right IT investment.
Talks mount over FXall buyer
NEW YORK – FXall has agreed to sell a 20% stake to private equity firm Technology Crossover Ventures (TCV), based on an overall valuation of $300 million for the company, say sources.
Commit to algos, banks warned
LONDON – Banks must commit now or be prepared for a life outside the fast-moving algorithmic space, warned Jeremy Smart, executive director at Morgan Stanley.
Marex continues expansion
NEW YORK & LONDON – Independent brokerage firm Marex Financial has signed its third deal with an FX platform in recent weeks.
DJ Newswire and FXdirekt launch German language news service
LONDON & FRANKFURT – Dow Jones Newswire has teamed up with German online trading platform FXdirekt Bank, to establish a German language real-time FX news service.
Banks should have the courage of their convictions
The speculation swirling around the future of two of the most important forex institutions is providing the industry with something to discuss, and for us journalists something interesting to write about.
Insch goes the extra mile with systematic launch
TRÜBBACH – Swiss hedge fund Insch Capital Management is to launch its proprietary in-house systematic trend-following currency program, Kintillo, in March.
Gain expands US retail FX presence
BEDMINSTER, NEW JERSEY – Gain Capital, the non-bank provider of forex trading and asset management services, has opened an office in New York City.
Latest game from FX Player
LONDON – FX Player and data and proprietary analytics vendor TraderMade have joined forces to launch a new trading game.
HSBC FX revenues rise
LONDON – HSBC ended 2005 with a 6% rise in revenue from foreign exchange over the previous year, with the bank benefiting from increased interest in emerging markets.
DrKW makes senior hires
LONDON – Dresdner Kleinwort Wasserstein (DrKW) is continuing to rebuild in sales, trading and structuring with three further hires.
Dresdner launches FX prime brokerage
LONDON - Dresdner Kleinwort Wasserstein (DrKW) last week launched a foreign exchange prime brokerage (FXPB) business, completing its cross-asset class product PB offering.
Hedge fund signing for Deutsche Bank's Select
FRANKFURT - Deutsche Bank has added to its FX Select platform by signing Sagio's new FX hedge fund, according to FX Week sister publication Hedge Funds Review .
ACI heads for Manila, but will anyone else?
The ACI's decision to hold its annual get-together in Manila has raised a few eyebrows to say the least.
Two arrive, one leaves at ABN
GLOBAL - ABN Amro has made more changes globally in FX, with two key hires and a departure.
SunGard expands Asia-Pacific operations
TOKYO - Software vendor SunGard is expanding its operations in the Asia- Pacific region in 2006. It will provide solutions for trading, treasury and risk management, benefit administration and insurance. Other services include institutional asset…
Russian activity on the up
MOSCOW - Russia's stable economy, booming markets, soaring demand for financial services and growing number of high net-worth individuals, means banks are now investing in more FX staff in the country, say market participants.
Bank results need to be spelt out
Annual results season is here, and this brings a series of stories for FX Week on how banks' forex desks are performing.
Strong results at BarCap
LONDON - Barclays Capital reported strong growth in income and net trading income in its 2005 annual results. Total income increased 27% to £4.3 billion.
Reuters expands in China
EIJING - Reuters is significantly increasing its presence in China, signing five banks to its Dealing 3000 matching service and selling its Kondor risk management product suite to six.
Traiana goes live with forex options
NEW YORK - Software vendor Traiana went live with its foreign exchange options service on its Harmony Message Center (HMC) this month.
Staff build-up at Bank of America
NEW YORK - Bank of America (BoA) has made a trio of hires over the past month as it continues to build its forex capabilities.
Refco saga continues
NEW YORK – The Refco saga continued last week, with creditors vetoing a deal that would have seen the remains of the unregulated business sold to Forex Capital Management.