News
Swedbank installs new turrets
Stockholm – Swedbank is installing 200 new turrets from US vendor IPC Information Systems for its FX, fixed income and equity trading.
Banks compete for e-FX talent
LONDON – Dealers combining technological and sales expertise are in short supply as banks compete to secure staff that can aid their success in the growing online FX market.
S&P rates Calyon AA-
PARIS – Rating agency Standard & Poor’s has given Calyon Corporate and Investment Bank (formed on April 30 following Crédit Agricole Indosuez’s acquisition of Crédit Lyonnais) an AA- long-term counterparty credit rating.
Tullett plans new data launch
LONDON – Tullett Financial (TF), the data sales arm of broking group Collins Stewart Tullett (CST), is readying the launch of a new currency data product for June.
Data sets tone for firmer dollar
NEW YORK – Much stronger than expected economic data from the US last Friday has set the tone for a firmer US dollar this week – potentially putting an end to the nervousness that has kept some clients out of the market in recent days.
State Street ramps up in Asia
HONG KONG – State Street is hiring staff in Asia-Pacific in a bid to win more institutional business in the region.
NAB director resigns
Catherine Walter, the National Australia Bank (NAB) director who criticised a report into the bank’s forex options trading scandal, resigned last week.
Commodities drive client FX
LONDON – Banks are reporting growing business from clients needing structured FX and commodities solutions. The growth of commodity trading adviser (CTA), private banking, hedging and investor interest in FX is helping to boost demand, said bankers in…
Reuters reorganises in Asia
SINGAPORE – Reuters has shifted a number of executives to new posts in Asia-Pacific to offer senior employees "new job experiences", it said last week.
StanChart hires trading head
LONDON – David Bee is set to join Standard Chartered in June as head of FX trading in London and global head of G10 spot and forward trading.
NAB options desk "open again"
MELBOURNE – National Australia Bank (NAB) has resumed limited trading in currency options, as an April 30 deadline to amend its shortcomings passed last week.
Fairex eyes Chinese banks
SHANGHAI – Singapore-based e-FX technology vendor, Fairex International Financial Systems, is trying to win more bank clients in China through a new scheme set up by the Singapore government.
Bank rivalry in treasury opens clients’ credit lines
GREENWICH, CT – Increased competition for treasury management business among banks is making credit more easily available to global corporates and institutions, according to new research published last week.
ERM smooth says HKMA
HONG KONG – Hong Kong’s linked exchange rate mechanism worked "smoothly" last year, although the Hong Kong dollar strengthened "markedly" in Q4, the Hong Kong Monetary Authority (HKMA) said last week.
Fairex eyes Chinese banks
SHANGHAI – Singapore-based e-FX technology vendor, Fairex International Financial Systems, is trying to win more bank clients in China through a new scheme set up by the Singapore government.
CME FX up 50%
CHICAGO – The Chicago Mercantile Exchange last week said FX volumes were up 50% year-on-year in Q1 to 188,000 rounds per day, while revenues for forex rose 43% to $21 million.
Corporates and banks still behind on IAS 39
LONDON – With the January 2005 implementation date for accounting standard IAS 39 fast approaching, corporates and financial institutions are still behind in their preparation, according to a recent survey carried out by Reuters and FX Week ’s sister…
Dresdner hires six hedge fund dealers
LONDON – Dresdner Kleinwort Wasserstein has hired six hedge fund sales dealers in London, in a move a bank official described as a "significant strengthening" of its platform for the hedge fund community.
Options staff hotly pursued
LONDON – Currency options traders are finding themselves hotly pursued, as a series of high-profile moves around the world has set off a chain of demand.
Tullett reshuffle: Collins out
LONDON – Broker Tullett Liberty’s chief executive Bruce Collins left the firm at the end of April, amid rumours of board dissatisfaction with the firm’s performance in London.