News
Calyon expands in rates trading in Hong Kong
HONG KONG – Calyon has raided Standard Chartered and interdealer broker GFI as it looks to expand its interest-rate trading team in Hong Kong.
Lehman Brothers in Asia-Pacific rollout
SINGAPORE – Lehman Brothers is expanding its coverage of the Asian market with the planned extension of FX into Singapore, Richard Gladwin, global head of FX at the bank told FX Week.
AXA IM forex fund targets institutional investors
LONDON – AXA Investment Managers (AXA IM) has launched its first active FX fund since creating a new currency management team last July.
Liffe to launch time pro-rata algorithm for STIRT futures
LONDON – Euronext’s derivatives business Liffe has developed a new trade-matching algorithm for its short-term interest rate (STIRT) futures contracts, which will include a time element in the allocation process.
List of e-FX Awards finalists drawn up
The shortlist for the FX Week e-FX Awards has been decided. This year we received an unprecedented number of submissions, each of a high degree of quality, demonstrating the increasingly competitive landscape for e-FX.
F&C gathers assets for FX volatility hedge fund
LONDON – F&C Alternative Investments has begun raising funds for its F&C Garnet Fund, a hedge fund targeting absolute returns by investing and trading in FX volatility and forward rate bias (FRB). The move indicates the growing prominence of volatility…
Citi launches advanced alpha FX indexes
LONDON – Citi has launched a set of six tradable FX indexes that employ active management and FX options when generating returns.
JP Morgan's reshuffle of management continues
LONDON & NEW YORK – JP Morgan has made further senior management changes under its newly structured global rates and G10 foreign exchange business.
FXMarketSpace enhances prime brokerage service
LONDON & NEW YORK – FXMarketSpace (FXMS) has joined the ranks of spot broker EBS and electronic communications network Hotspot FX by introducing the NetLink service onto the platform.
Derivative Fitch launches beta CFXO model
LONDON – Derivative Fitch last Wednesday (June 27) released a beta version of its Vector CFXO model for collateralised foreign exchange obligations, aimed at increasing transparency in the market and the understanding of its ratings.
China slams speculative inflow banks
BEIJING – HSBC, Standard Chartered, Citi and the Bank of East Asia were among 10 international banks disciplined by the Chinese FX regulator last week.
Senior management shifts for ANZ FX sales
LONDON – ANZ has promoted David Wilkinson to a newly created role of head of currency and currency option trading for Europe and America. Wilkinson will be responsible for overseeing FX and FX options trading at the bank and will relocate from
India’s Yes Bank expands e-FX strategy
MUMBAI – Yes Bank has begun distributing prices over the bank-to-client FX trading service, Reuters Trading for Foreign Exchange (RTFX), as part of a wider FX e-commerce initiative.
RBNZ uses Reuters to intervene in spot market
AUCKLAND – The Reserve Bank of New Zealand (RBNZ) used Reuters’ spot matching system on June 11 to intervene in the spot Kiwi market for the first time, market sources say. The RBNZ intervened in the FX market to sell New Zealand dollars on June 11. This…
FIXI expands with RCG FX
LONDON – Broker FIXI has acquired the London-based foreign exchange business of Chicago-based broker Rosenthal Collins Group (RCG).
StanChart expands in e-commerce
Standard Chartered has hired Richard Koh, former regional head of e-channels for JP Morgan in Asia, in Singapore.
GBP/JPY currency pair added onto Icap EBS platform
LONDON – Interdealer broker Icap is today (July 2) enabling GBP/JPY trading over spot broking platform EBS.
JP Morgan's reshuffle of management continues
Chris Willcox and Matt Zames have been named co-heads of global rates and currency trading at JP Morgan, excluding Asia, including Japan. The pair will also co-manage JP Morgan’s North American corporate marketing, commercial bank marketing and global e…
Saxo debuts retail algorithmic tool
LONDON – Saxo Bank is today (June 25) launching its retail algorithmic trading tool, TradeCommander, in the UK market ( FX Week , January 8).
BNP Paribas wins sex discrimination case
The London Central Employment Tribunal has unanimously dismissed the high-profile case brought against BNP Paribas by former FX salesperson Katharina Tofeji.
BIS report notes low volatility
LONDON – FX markets were characterised by high levels of turnover and historically low volatility in 2006, according to the Bank for International Settlements' (BIS) 77th annual report, released today (June 25).
GFI brokers first algorithmic trade of forex option
Interdealer broker GFI brokered the first screen-based algorithmic trade of an FX option through its option trading platform, Forexmatch, last month.
International Assets expands in Hong Kong
HONG KONG – Florida-based institutional trading company International Assets Holding is expanding its collateralised FX trading business in Hong Kong.