News
NAB reshuffles Asian markets
MELBOURNE – National Australia Bank (NAB) has reorganised its markets division in Asia. Hong Kong-based co-head of markets for Asia Doug Goldsmith will relocate to Sydney to take up a new role as head of interest rate markets.
Bloomberg offers free EBS
NEW YORK – EBS Trader is to be offered through Bloomberg terminals free of charge as the information and market data vendor tries again to make serious inroads into the forex market.
GL Trade acquires Ubitrade
LONDON -- GL Trade, the France-based vendor of trading systems, recently announced the acquisition of Ubitrade, a specialist in derivatives processing.
Dollar/won move boosts options market activity
HONG KONG -- Volumes in the forex options markets have surged off the back of the rapid move in the dollar/won over recent weeks, say analysts.
UK's Hargreaves Lansdown launches onto forex market
BRISTOL -- A leading UK stockbroker and financial advice firm is to launch into the FX market, offering its 500,000 customers access to Saxo Bank's rates.
BTM lead in Japanese forex slipping
TOKYO -- Bank of Tokyo-Mitsubishi (BTM) remains the top Japanese foreign exchange house in the country, with revenues for the first half of the Japanese fiscal year ending September 30 totalling ¥36.1 billion.
Sterling unlikely to breach $2
LONDON -- Sterling will correct itself against the major currencies within the next few months, said analysts.
Radianz hires Pickles for Fix
NEW YORK -- New Yok-based connectivity provider Radianz has appointed Chris Pickles as chairman of the Europe education and marketing committee of Fix Protocol (FPL). Fix Protocol is atrade association, of which Radianz is a member.
HSBC hires new Asian FX strategist
HONG KONG -- HSBC has hired Richard Yetsenga as regional currency strategist for Asia, to be based in Hong Kong. Yetsenga joins from Deutsche Bank in Sydney, where he was currency strategist and deputy chief economist.
More banks set to cut back?
LONDON/NEW YORK -- The cut in headcount by banks in London and New York in recent weeks is likely to continue, said market participants.
Sterling unlikely to breach $2
LONDON -- Sterling will correct itself against the major currencies within the next few months, said analysts.
CSFB names new fixed-income sales and trading head in Japan
TOKYO -- Credit Suisse First Boston (CSFB) has named Carsten Stoehr as head of Japan fixed-income sales and trading.
Calypso looks to crack Asia
TOKYO -- Technology vendor Calypso has hired extra staff in Japan as it aims to get a foothold on the Asian market.
CLS adds four more currencies
HONG KONG -- CLS is to bring four new currency pairs onto its platform: the New Zealand dollar, the South African rand, the Hong Kong dollar and the Korean won.
White-labelling now a reality
White-labelling – the provision of FX liquidity and e-trading platforms by top-tier banks to their clients – has moved on in the past year to become a reality, agreed panellists at the FX Week Congress in London last week.
Intervention will not halt dollar weakness
SEOUL – The dollar's dive against Asian currencies to record lows is unlikely to be halted by large-scale intervention, according to analysts.
Euro role grows, says ECB
The euro is increasingly being used as an international currency and its place in the global markets is becoming ever more important, a European Central Bank (ECB) official told delegates at the FX Week congress in London last week.
Danske Bank's London FX at risk
COPENHAGEN – Danske Bank's planned job cuts in London are likely to hit the FX team, according to a source close to the bank in Copenhagen.
Forex liquidity crisis looms
LONDON – Top banks UBS, Deutsche Bank and Barclays Capital warned of a potential liquidity crisis in foreign exchange at the FX Week 2004 Congress in London last week.
Forex strategists en vogue
LONDON – FX strategists are at a premium because banks can no longer differentiate themselves on price. As a result, the recent high turnover of strategists is being driven by tighter pricing, say market sources ( FX Week , August 30).