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Rupee options launch today
MUMBAI – Banks in India can start trading rupee/foreign currency options today, following the lifting of restrictions from the Reserve Bank of India (RBI).
HK’s FX clearing needs improvement – IMF
HONG KONG – Foreign exchange clearing supervision in Hong Kong needs to be improved, according to the International Monetary Fund (IMF). In a report published in late June, the IMF said although payments systems in the Special Administrative Region (SAR)…
Rupee options launch today
MUMBAI – Banks in India can start trading rupee/foreign currency options today, following the lifting of restrictions from the Reserve Bank of India (RBI).
US investment banks’ revenues soar on back of investor demand
NEW YORK -- Strong investor demand is driving US investment banks’ fixed-income and forex revenues sky-high, according to first-half results released last week.
AIGforex under merger threat
GREENWICH, CT -- AIG Trading’s FX group faces an uncertain future as parent company Connecticut-based American Insurance Group (AIG) prepares to merge its AIG Trading and AIG Financial Products subsidiaries, sources close to the firm told FX Week .
Hedging solution for Canadian exporters
A series of Canadian dollar calls could be the solution to Canadian exporters’ concerns about the direction of US dollar/Canadian dollar, says Shaun Osborne chief currency strategist at Scotia Capital in Toronto
US investment banks’ revenues soar on back of investor demand
NEW YORK -- Strong investor demand is driving US investment banks’ fixed-income and forex revenues sky-high, according to first-half results released last week.
Rabo loses global FX head
LONDON -- Dutch Bank Rabobank is currently without a global head of foreign exchange following the departure of Gary Kaye from the London office last Monday (June 16), a spokesperson for the bank in Utrecht told FX Week .
Investors boost forex fund returns
NEW YORK -- Market trends and a surge in interest from investors is creating a bumper year for investment managers specialising in FX.
Top three make biggest gains
LONDON -- FX traders are used to hearing about the growing dominance of the top five or 10 banks in foreign exchange. But according to FX Week ’s exclusive yearly round-up of banks’ forex revenues, the process of consolidation is accelerating much more…
Top three make biggest gains
LONDON -- FX traders are used to hearing about the growing dominance of the top five or 10 banks in foreign exchange. But according to FX Week ’s exclusive yearly round-up of banks’ forex revenues, the process of consolidation is accelerating much more…
Banks counter IAS39 threat
LONDON -- Banks are developing new structuring models for corporate clients to ensure the IAS39 accounting standards do not result in a reduction of complex FX hedging activity.
Reduced capital requirements boost brokerage prospects in Hong Kong
HONG KONG -- Companies offering leveraged forex brokerage services in Hong Kong should brace themselves for an influx of competition. New players are being enticed into the market by reduced capital requirements for firms wishing to offer leveraged…
US dealers revise op risk standards
NEW YORK -- The Foreign Exchange Committee, a 20-dealer industry liaison group to the New York Federal Reserve Bank, has made new recommendations for the exercise of in-the-money FX options in a revision of its 1996 forex op risk best practices document…
GFI targets corporates for options pricing
LONDON -- New York-based interdealer broker GFI Group today (June 16) launches a new online FX option pricing service targeting corporate firms and lower-volume FX users.
Reduced capital requirements boost brokerage prospects in Hong Kong
HONG KONG -- Companies offering leveraged forex brokerage services in Hong Kong should brace themselves for an influx of competition. New players are being enticed into the market by reduced capital requirements for firms wishing to offer leveraged…
UK top tier to survive euro
LONDON -- The UK government outlined its view on euro entry last week, but the potential death of the sterling market would be unlikely to dent the top UK banks in FX.
Huge profits for German auto hedges
MUNICH -- The euro’s continued rise against the US dollar has turned forex hedges into a huge money-maker for German auto manufacturers, according to research made public last week.
ACI/ICA link-up welcomed
BEIRUT -- Forex vendors last week welcomed the decision by ACI -- The Financial Markets Association to combine its global forex congress with the InterArab Cambist Association (ICA) congress in Beirut, Lebanon.
ACI/ICA link-up welcomed
BEIRUT -- Forex vendors last week welcomed the decision by ACI -- The Financial Markets Association to combine its global forex congress with the InterArab Cambist Association (ICA) congress in Beirut, Lebanon.
Sars leaves FX untouched
HONG KONG/TORONTO -- Despite fears that the Sars outbreak would affect volumes and markets globally, the forex industry escaped the crisis unscathed.
ETrade enters FX with Saxo Bank
LONDON -- Online bond and equity retail trader ETrade has made its first foray into FX by becoming a white-label partner of Danish FX dealer and technology provider Saxo Bank.
BTM top in Japanese FX
TOKYO -- Bank of Tokyo-Mitsubishi (BTM) has cemented its position as the top Japanese forex provider, reporting a 3% rise in yen terms in revenues for the full-year 2002.
Prop desks reap rewards of heightened FX volatility
LONDON -- Banks could be reaping rewards from their proprietary FX trading desks, as swift intra-day market moves continue, dealers have told FX Week .