News
StanChart open all hours for GCC currencies
DUBAI - Standard Chartered has extended its online coverage of Gulf Co-operation Council (GCC) currencies to 24 hours daily from Monday to Friday, to match client demand.
Celent report: financial firms' IT spending on the rise
MONTREAL - Despite the economic decline, absolute spending figures in information technology are set to rebound globally, according to Jacob Jegher, author of the Celent report: IT spending in financial services: A global perspective .
Bank of East Asia signs on to GFI's Fenics Enterprise
SINGAPORE - Bank of East Asia (BEA) has deployed GFI's Fenics Enterprise for the pricing and analysis of retail dual currency products.
Ipam banned for audit failures
WASHINGTON, DC - The US National Futures Association (NFA) banned Orlando-based introducing broker Income Plus Asset Management (Ipam) from NFA membership on October 28, after it failed to comply with a regulatory audit.
Industry reaffirms CLS as FX data repository
NEW YORK - The foreign exchange industry has reaffirmed industry utility CLS Bank as the FX trade data repository, as US and European authorities push to introduce similar facilities in the derivatives market.
JP Morgan names EMEA head
LONDON - JP Morgan has named a new head of Europe, the Middle East and Africa (EMEA) in London, market sources tell FX Week .
RBI builds currency futures
MUMBAI - The Reserve Bank of India (RBI) plans to extend the list of currency futures traded on the country's exchanges, as part of efforts to grow the risk management tools available in the local market.
Bank of Canada: no intervention without strong policy
OTTAWA - Mark Carney, governor of the Bank of Canada, has told the country's House of Commons that the Canadian dollar's high exchange rate against the US dollar is depressing prices and economic activity.
Nomura continues to profit from Lehman
TOKYO - Nomura has recorded profits for two consecutive quarters, reporting net revenues of ¥300 billion in the second quarter, 2010, of Japan's financial year.
Concerns raised over CCPs
NEW YORK - Various attendees raised concerns about central clearing at Risk USA in New York - with JP Morgan's chief risk officer even pointing to it as a possible source of the next financial crisis.
Active FX traders switch on to FXall
LONDON - Active foreign exchange traders have made up the majority of the 130 new client additions trading on FXall since January this year, according to a senior official.
db x-trackers offered in dollar, sterling, franc
FRANKFURT - Deutsche Bank plans to launch dollar, sterling and Swiss franc- based versions of its four euro-based db x-trackers currency exchange-traded funds (ETFs) by year-end.
Bo Li returns to BoA Merrill Lynch
HONG KONG - Bank of America (BoA) Merrill Lynch has appointed Bo Li from Standard Chartered in Hong Kong, to head north Asia institutional foreign exchange sales, according to market sources.
Budenberg appointed UKFI CEO
LONDON - Former UBS banker Robin Budenberg has been appointed chief executive of UK Financial Investments, the body established to manage the UK government's investments in financial institutions including the Royal Bank of Scotland (RBS), Lloyds TSB and…
State St case puts FX deals under scrutiny
LONDON & NEW YORK - Banks will come under increased pressure to provide greater transparency on foreign exchange transactions, following the California state attorney-general's FX fraud lawsuit against State Street, according to market participants.