Investment
Gold producer hedging drops to record lows
LONDON - Gold hedging plunged by another 18% in the first quarter of 2008, shrinking the global delta-adjusted hedge positions to 22 million troy ounces (Moz).
Reuters’ RTFX offers algo strategies
LONDON – Thomson Reuters is teaming up with Credit Suisse to introduce algorithmic trading strategies on the Reuters Trading for Foreign Exchange (RTFX) product next month.
Death by association
The application of credit technology to diverse underlyings led to the birth of collateralised foreign exchange obligations in 2006. But despite being built from uncorrelated underlyings, their fortunes have proven highly correlated with the wider market…
StanChart moves Africa FX team to Dubai hub
LONDON & DUBAI - Standard Chartered is moving its offshore African foreign exchange trading desk from London to Dubai, as it continues to build operations in the Middle East.
GCC currency pairs live on ACM
GENEVA - Six new Gulf Co-operation Council (GCC) currency pairs are now available to traders on Geneva-based online currency trading platform AC Markets (ACM).
HSBC expands single-bank platform's reach
LONDON - HSBC is expanding its foreign exchange presence in southern and eastern Europe and the Middle East by rolling out its single-bank platform HSBCnet FX and MM Trading locally.
BarCap offers retail white-label service
LONDON - Barclays Capital is breaking into the mass and private wealth management markets for foreign exchange with the launch of a white-label margin FX trading service called Barx White Label for Private Investors.
Merrill Lynch FICC team faces cuts
LONDON - Merrill Lynch put more than 80 members of staff in its fixed-income currencies and commodities (FICC) group in the Europe, Middle East and Africa (EMEA) region on a 90-day consultation period last Wednesday (April 23).
A call for old-fashioned banking?
Over the past few years, buy-side traders have been demanding a levelling of the playing field as they increasingly make markets in foreign exchange like their sell-side peers. So it was surprising, and even refreshing, to hear some calls for old…
Deutsche Bank continues ETN issues
NEW YORK - Deutsche Bank has launched four commodity-linked exchange traded notes (ETNs), in response to growing demand from retail and institutional investors for exposure to the commodity markets.
BarCap aims to capture FX volatility
LONDON - Barclays Capital has launched three foreign exchange volatility indexes, the BetaVol, Smart BetaVol and AlphaVol. The indexes, which are designed to provide portfolio diversification and event hedge protection against sudden market downturns,…
Yen rise triggers PRDC hedging
TOKYO - The sharp appreciation of the yen in March has left dealers jostling to hedge exposures to power-reverse dual currency notes (PRDCs) and other similar structured products.
Merk offers Asian currency fund
PALO ALTO, CA - Merk Investments launched the Merk Asian Currency Fund (MACF) on Tuesday (April 1), a mutual fund that invests in a basket of Asian currencies, aimed at retail investors.
Icap grows in Middle East
BAHRAIN - Interdealer broker Icap is expanding its footprint in the Middle East by adding the Bank of Bahrain and Kuwait (BBK) as an EBS Prime customer.
Small retail FX firms face extinction
Felix Shipkevich, general counsel, and Anna Vidiaev, staff attorney, at online foreign exchange trading company Capital Market Services in New York say a proposed rise in capital requirements for retail brokers will result in an anticompetitive market
A matter of preference
Jeffrey Todd Lins, director of quantitative analysis at Saxo Bank in Copenhagen, advances the tired debate over hedging versus alpha generation in wealth management.
Dresdner enhances risk appetite tool
LONDON - Dresdner Kleinwort has enhanced its proprietary multi-asset class risk appetite measurement tool, ARPI (aggregate risk perception index), ahead of a strong global push later this year.
Oiling the FX wheels
The Royal Bank of Canada is offering capital protection with a new FX-linked product that is based on currencies from six countries, including two of the world's biggest oil producers