Investment
FX next big thing for algorithmic trading
LONDON – FX is set to be the most actively traded asset class using algorithms, according to an audience at an event on the subject held last week.
Currency product ‘growth to continue’
LONDON – Demand for currency-linked structured products is set to continue into next year, according to market participants who have already posted strong sales this year.
A strategy for yen appreciation
With faster economic growth, yen appreciation will happen. It is just a matter of timing, says Trevor Williams, chief economist at Lloyds TSB Financial Markets in London
The benefits of petro-dollar diversification
The latest data suggests that Opec members have not been recycling oil revenues into US assets. This implies that diversification is likely to start soon, putting the dollar under significant pressure, however the timing is still uncertain, says Ian…
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.
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
Simple is best
Simon Derrick, head of currency strategy at Bank of New York in London, says ‘simple is best’ when looking to increase exposure to sterling to take advantage of a continued widening of the interest rate differential
Bloomberg enters FX options market
NEW YORK – Bloomberg is continuing to build up its portfolio of FX tools with the planned introduction of FX options trading.
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.
When is it appropriate to use average rate options?
Corporates can fall into the trap of using average rate options as a cheaper alternative to European options. Jeff Cooper (right), vice-president, foreign exchange, Bank of Montreal in Toronto, clarifies the misconception
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.
Structured products in the spotlight
WASHINGTON, DC – Concerns over the mis-selling of structured products to investors in the US has prompted the National Association of Securities Dealers (NASD) to issue guidelines to ensure members fall within the scope of sales practice codes.
Platforms adopt algorithmic trading
NEW YORK – Algorithmic trading continues to gather momentum, with trading platforms EBS and Hotspot FXi linking to software provider Progress Software Corporation's Apama Algorithmic trading software.
Platforms adopt algorithmic trading
NEW YORK – Algorithmic trading continues to gather momentum, with trading platforms EBS and Hotspot FXi linking to software provider Progress Software Corporation's Apama Algorithmic trading software.
Hedging rupee currency pairs
The global markets team at ICICI Bank in Mumbai suggests ways for Indian corporates to hedge against volatility in the Indian rupee currency pairs.
CLS heads for the buy side
NEW YORK - CLS is to expand into non-deliverable forwards (NDFs) and OTC options - a move that could pave the way for far greater buy-side participation on the settlement system.
Heading for the final USD selling opportunity
Hans-Guenther Redeker, global head of FX strategy at BNP Paribas in London, suggests a way to take advantage of the prospect of near-term dollar strength to protect against the likelihood of longer-term USD weakness.
Asian currencies at risk from oil surge
JAKARTA – Asian currencies have taken a hit from surging oil prices, which remained above $60 last week despite falling off record levels set earlier this month.
ACM expands in Middle East
DUBAI – ACM-Refco, the online currency and metal trading firm, has opened a representative sales office in Dubai, United Arab Emirates.
Keeping current at Currenex
In the second in a series of interbank profiles, FX Week looks at the prospects of Currenex