Infrastructure
Reuters opens post-trade service
LONDON – Reuters this week moves into the post-trade market with the launch of Reuters Trade Notification System (RTNS).
Measuring US dollar and prospects
Thomas Lam Tai Loong, treasury economist at United Overseas Bank (UOB) in Singapore, outlines a way of predicting dollar movement through measuring growth in the US economy
Refco’s demise offers risk and reward for competitors
NEW YORK – Refco’s woes are having wider implications for the forex market, with the suspension of the platform sending shockwaves through the industry.
FX volumes ‘up one fifth’ in past year
LONDON – A surge in active currency management has driven up FX volumes by 20% in the past year, according to London-based research firm ClientKnowledge.
China to adapt in its own time
HONG KONG – China will adapt its currency regime as it sees fit. This was the central message of the keynote speech given by Frank FX Gong, chief economist for China at JP Morgan.
Hong Kong to up ante on CNY services
HONG KONG – Chief executive of Hong Kong, Donald Tsang, said the city will take steps to increase the depth of yuan banking services available.
Asian central banks increase reserve management sophistication
HONG KONG – Asian central banks who have typically been long dollar are evolving with their reserve management, according to Claudio Piron, currency strategist at JP Morgan.
CLS faces rival HKMA challenge
HONG KONG – CLS is facing a challenge from the Hong Kong Monetary Authority (HKMA), which is building its own payment settlement system to take on board an emerging markets currency.
Using a long straddle for EUR-USD participation
Armin Mekelburg, currency strategist at HVB in Munich recommends a way to take advantage of the strong swings in the eurodollar
India’s CCIL adds more banks
MUMBAI – Indian FX settlement service the Clearing Corporation of India (CCIL) has gone live with seven client banks and plans to add a further five in the next two months, a senior official told FX Week .
JPMTS signs up CLS third party
BERLIN – JP Morgan Treasury Services has signed up ADM Derivatives as a CLS third-party client, as part of a solution the bank is offering, which includes a suite of multi-currency accounts.
Yen set ‘to play catch-up’ with economy
TOKYO – The relative weakness of the yen, despite the Japanese economy’s strength, is set to end shortly, according to market observers.
FX Week comes to Asia
HONG KONG – This week sees the inaugural FX Week Asia conference in the Special Administrative Region at the Renaissance Harbour View Hotel.
Energy costs and hurricane Katrina hit currency funds
STAMFORD – Currency fund managers took a hit in August against a backdrop of high energy prices and the costly destruction caused by hurricane Katrina.
Hong Kong set for retail yuan NDF contracts
HONG KONG – Authorities in the Special Administrative Region are to follow China's lead in making renminbi non-deliverable forwards (RMB NDFs) available for trading next month.
Yuan for the money
With the growing importance of the Chinese market, James Malcolm, senior currency strategist at Deutsche Bank in Singapore, suggests range-trading USD/CNY NDFs from the short side, to capture gains
UBS to build post-trade hub
ZURICH – UBS is to set up a single portal to enable all post-trade processing across different asset classes to go through one centre.
CLS breaks $4 trillion barrier
NEW YORK – CLS Bank set a new record for the value of payment instructions settled in a single day on last Wednesday, September 21.
CST to complete takeover talks
LONDON – Collins Stewart Tullett (CST) plans to complete talks with potential buyers by the end of October, it announced last week.
All this and more
In the final multibank platform focus, FX Week looks at the prospects of FXall in its bid to continue the growth it saw in its first four years
GFI and Traiana offer processing boost for forex options trading
NEW YORK and LONDON – FX options trading is to get a boost, with broker GFI and technology vendor Traiana both launching automated processing services in the market.
UBS reaps distribution rewards
STAMFORD – UBS is seeing strong take-up for dual currency deposits (DCDs) by US retail clients after launching the product for the US market earlier this year.