News
FX Invest Middle East: Volatility is tough and unsustainable, say managers
Delegates at FX Invest conference in Dubai discuss Japanese intervention, the value of emerging market currencies and their outlook on volatility
FX Invest Middle East: Mena region dodges Arab Spring 'curveball'
HSBC's senior economist for the Middle East and North Africa tells delegates at FX Invest conference that the region has dealt with two big challenges this year, but it stands in better shape than some developed economies
Saxo to reveal open FX positions on tradingfloor.com
Saxo Bank's trading commentary and analysis website, TradingFloor.com, this week unveils a new module to provide information on FX open positions
Banks continue to invest in FXPB, despite tough hiring climate
Widespread cost-saving initiatives and hiring freezes have led to a wave of high-profile redundancies in the foreign exchange market, but forex prime brokerage remains an area for investment because of the focus on clearing, say banks and recruitment…
Trading places, October 31, 2011
New appointments at Citi, Caplin and the CFTC, while Saxo promotes Missonnier to run new Brussels office
Turkish intervention poses threat of inverted currency war
A wave of intervention by Turkey and Poland’s central banks to strengthen the lira and the zloty could lead to an inverted currency war if other central banks follow suit, according to strategists. Chiara Albanese reports
Corporates fall on tough times
The recent volatility in foreign exchange markets has caused uncertainty for corporate treasurers and led to some changes in their strategies. How are banks helping corporates to tackle the current challenges and the increased costs that will result from…
Eurozone deal brings relief in FX spot and options
Risk sentiment appeared to make a comeback in FX markets yesterday as options volatility fell from record highs and the euro rallied in response to the deal announced after the Euro Summit in Brussels
Record FX profits driven by volatility and hedging, say Deutsche and UBS
A perfect storm of volatile currency moves, intervention from the SNB and frenetic hedging activity have contributed to unusually high FX revenues and volumes in the third quarter, say Deutsche Bank and UBS
Huteau departs Credit Suisse after 17 years
Swiss bank parts company with its head of local markets FX options trading for Europe, the Middle East and Africa and Latin America
Ferrini joins Bloomberg from Commerzbank
Fabrizio Ferrini left Commerzbank in September
Marex Spectron recruits global head of FX from CIBC
Chris Eagle will start in early 2012, reporting to Peter Williams, head of financial markets
Industry lobbying against EU transaction tax intensifies
The European Commission’s recent proposal to tax financial transactions by up to 0.1% has sparked a frenzied wave of lobbying from industry bodies concerned it could drive FX trading outside the EU and diminish London’s standing as an FX centre. Chiara…
Peter Klein joins BAML to head FXPB
Klein replaces Tony Dalton, former global head of FX prime brokerage, who will take on a senior FXPB sales role
Adrian Lee adds three portfolio managers in London
Three new managers join from State Street Global Advisors, Oxford Economics and APG Asset Management
Shey joins RBS from UBS
Forex veteran has been appointed global head of futures, prime services and electronic markets at RBS in Stamford
EUR/CHF options market springs into life
Traders report sustained levels of activity in the five-year EUR/CHF options market as hedgers protect against long-dated downside risk
Chase takes on head sales role at BAML
John Chase becomes Bank of America Merrill Lynch's new head for Europe, the Middle East and Africa corporate derivatives sales
Industry calls for further clarity on Mifid II
The European Commission tabled proposals to revise the Markets in Financial Instruments Directive on October 20. But traders remain concerned about the implications of a one-size-fits-all approach to foreign exchange
Trading places, October 24, 2011
Read about hires at BarCap, Nomura, CME and CLS
Swain to manage GFI's new Swiss office
New office in Nyon will focus on emerging market products
Asia-Pacific personal wealth growth soars ahead of US and Europe – Credit Suisse
The Asia-Pacific region has accounted for 54% of all new global wealth creation since 2010 and emerging markets are set to drive global wealth creation during the next five years, according to Credit Suisse's annual Global Wealth Report
FX Week Asia: High-frequency trading practices defended
Edward Blair presents detailed defence of high-frequency trading practices at FX Week Asia
Singapore Exchange preps FX clearing launch
SGX president says NDF clearing will begin shortly, following the successful launch of a clearing platform for interest rate swaps in November 2010