News

Former Refco CEO faces 16 years behind bars

NEW YORK - Phillip Bennett, the former chief executive of the once biggest independent US futures broker Refco, has been sentenced to 16 years in prison for defrauding investors of an estimated $2.4 billion.

JSE futures volumes top $1bn

JOHANNESBURG - Increased volatility in the currency markets has helped push the total value of currency futures traded on the Johannesburg Stock Exchange (JSE) beyond the $1 billion mark within 12 months of launch.

CME posts surge in Q2 forex volumes

CHICAGO - The Chicago Mercantile Exchange (CME) reported a strong increase in contract volumes in second-quarter results released last Tuesday (July 1).

More currency ETFs hit US

NEW YORK - Two more currency-linked exchange-traded funds (ETFs) were listed on the New York Stock Exchange's NYSE Arca on June 25.

Oanda offers money-transfer service

NEW YORK, TORONTO ZURICH & SINGAPORE - Online trading company Oanda is today (June 30) launching a new wire transfer service called FXGlobalTransfer for cash management in cross-border funds transfer.

Investors keen on double-short euro ETNs

NEW YORK - Morgan Stanley's Market Vectors double-long leveraged euro exchange-traded notes (ETNs) have outperformed their double-short counterparts by almost 30 times in trading volumes.

More departures from JP Morgan

LONDON - Mass redundancies are continuing to affect the foreign exchange desks of JP Morgan in London, with two former Bank One staff reputed to have left the US dealer this month.

NAB strengthens UK forex team

LONDON - National Australia Bank (NAB) has expanded its London foreign exchange team, with three hires covering Europe-domiciled business.

Nordea signs up to 360T

COPENHAGEN - Nordea has joined the 360 Treasury Systems (360T) TEX multi-dealer cross-product trading system, in response to a spike in interest among mid-cap clients for the platform, the bank said.

HSBC emerges in Georgia

TBILISI - HSBC is capitalising on rising demand for forex services in the former Soviet Union by opening its first commercial banking branch and head office in Georgia.

CFTC moves to close 'London loophole'

LONDON - The Commodity Futures Trading Commission (CFTC) has moved to impose US position limits and hedge exemption requirements on US customers trading West Texas Intermediate (WTI) crude oil on London-based ICE Futures Europe.

Quant demand in full force

GLOBAL - The high demand for quantitative foreign exchange specialists continues, fuelled by concerns over risk controls and growth in local currency derivatives and hybrid derivatives trading, industry sources have told FX Week .

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: