News
StanChart shakes up Asia FX management
SINGAPORE & MANILA - Standard Chartered has made senior appointments in Manila and Singapore in commodities, foreign exchange and interest rates.
StanChart gets a FIX
Standard Chartered last week announced that it has developed a FIX application programming interface (API) to trade over its single-bank platform.
Cfets announces top FX performers for 2007 in China
SHANGHAI - Bank of Montreal (BMO) won a clutch of prizes at the China Foreign Exchange Trading System (Cfets) awards for the foreign exchange industry last Wednesday.
Bank of Thailand lifts capital controls
BANGKOK - The Bank of Thailand is today (March 3) lifting controversial capital controls aimed at curbing inflows of hot money and a surging baht, 15 months after introducing the rules.
New options classes for latest Fenics release
LONDON - Seven new option classes are being added to the latest version of GFI Group's Fenics, an FX options pricing, risk management and trading tool.
Bailey named Newedge's deputy global head of FX
NEW YORK & LONDON - Michael Bailey, head of European FX for institutional brokerage Newedge in London, has been given the additional role of deputy global head of FX.
Citi and Wegelin team up to launch new forex portfolio
LONDON & ST GALLEN - Citi and Swiss private bank Wegelin Asset Management launched the Citi Wegelin Active Currencies portfolio last Tuesday (February 26), an investable portfolio based on six systematic FX strategies.
South Korea interbank FX volumes shoot up
SEOUL - Average daily volumes in South Korea's interbank FX market rose to $19.71 billion in 2007, up from $11.8 billion a year earlier, according to official statistics released last week.
ABN targets retail investors
DUBAI - ABN Amro has launched the Bric Infrastructure, Water and FX capital-protected note, targeted at retail investors globally.
MF Global loses $141.5m from rogue wheat trade
NEW YORK - Interdealer broker MF Global has lost $141.5 million after it was forced to cover trading losses made by one of its employees.
EBS Spot aims for NDF supremacy
LONDON - The battle to gain market share in electronic non-deliverable forwards (NDFs) broking is gathering pace, with the launch of seven Asian NDFs and Russian rouble trading on electronic spot broking system EBS Spot today (March 3).
Forex delivers for StanChart and RBS
LONDON - Income from FX helped Standard Chartered boost profits to a record high, as British banks announced full-year results tempered by exposure to subprime investments.
Thomson gets go-ahead for purchase of Reuters
LONDON & STAMFORD, CT - Thomson Corporation received approval from the European Commission, US Department of Justice and Canadian Competition Bureau to acquire Reuters last Tuesday (February 19).
Mifid compliance: a matter of principles
Since the EU's Markets in Financial Instruments Directive (Mifid) went into effect on November 1, 2007, financial firms have been racing to implement principles-based regulation to remain compliant and competitive. With various EU members in different…
UBS receives India banking go-ahead
MUMBAI - UBS joined an elite pool of foreign banks to receive an Indian banking licence last Monday (Feb 18) from the Reserve Bank of India.
Kerviel acted alone - SG report finding
PARIS - The Société Générale (SG) investigation into rogue trader Jérome Kerviel has found no evidence of an accomplice, but criticises the bank's oversight teams for failing to take the initiative in following up 93 alerts triggered by his unauthorised…
Icap suspends interbank FX forwards and swaps pricing in mainland China
LONDON & SHANGHAI - Icap stopped quoting forwards and swaps in the Chinese interbank market through its local joint venture last week, due to a lack of regulatory clarity.
Deutsche offers CRI-linked auto-callables
LONDON - Deutsche Bank is now selling auto-callable and target redemption notes linked to its Currency Return Index (CRI).
StanChart launches quant academy to crack market
LONDON & SINGAPORE - Standard Chartered is boosting its quantitative skills base through a new quant academy programme.
Barclays Capital rises above credit crisis
LONDON - Barclays Capital released solid full-year results last week, as banks across mainland Europe posted results tarnished by the effects of the credit crisis.