News
Citi names new global head
LONDON -- Jeff Feig took over as global head of FX at Citigroup in London on February 27, a senior official told FX Week .
Loewy exits on a high note
HSBC’s FX chief retires as the bank makes highest-ever forex profits LONDON -- Rob Loewy, head of FX at HSBC for the past 15 years, retired last Monday (March 1) as the bank announced its highest-ever dealing profits for foreign exchange.
Centradia userbase doubles
LONDON -- The growth of financial institution and asset manager clients using European multi-bank portal Centradia has fuelled rocketing volumes and client numbers on the platform, said chief executive Fabrice Mativat last week.
Pronet offers outsourced technical analysis
LONDON -- UK-based FX analysis firm Pronet Analytics is offering a research outsourcing service to up to three banks, to provide them with on-demand, bespoke responses from the firm’s technical team.
Corporates behind in IAS 39-compliant systems
LONDON -- Corporates and vendors have been slow to adapt to the new technology needed to effectively manage their treasury businesses under upcoming accounting standards IAS 39, senior officials said last week.
Hotspot and Saxo add MNI FX news
NEW JERSEY -- Hotspot FX and Saxo Bank both announced the addition of free FX news and analysis from New York-based Market News International (MNI) to their trading platforms last week.
HSBC takes central bank on CLS
LONDON -- HSBC has implemented the first central bank on CLS, it said last week.
Gartmore leads new hedge fund launches
LONDON -- Gartmore Investment Management has added to the recent explosion in currency funds with the launch of a new hedge fund. The fund, available to institutional investors around the world, builds on the firm’s 16-year track record in currency…
Deutsche reshuffles ICG in Asia
TOKYO -- Deutsche Bank has made management changes to its institutional client group (ICG) in Asia and Australia.
Busy start to year sets records on EBS
LONDON -- The start of 2004 has proved to be the busiest in the past 10 years, according to spot broker EBS.
HBOS profits up 10% on corporate growth
EDINBURGH -- HBOS Treasury Services had a successful year in forex, with FX profits rising by about 10% year-on-year for 2003, a senior official told FX Week .
UK pension funds hesitant on easy returns
LONDON -- UK pension funds are increasingly considering currency as an independent asset class, but the process of educating and gaining approval from trustees is slowing adoption, officials said last week.
NAB delays report on ‘rogue trading’ losses
MELBOURNE -- National Australia Bank (NAB) last week put back the planned publication of its report into unauthorised trading losses at the bank until mid-March.
RBS expands interbank sales
LONDON -- The Royal Bank of Scotland has expanded its interbank FX sales business, adding desks in New York and Asia to complement its existing London-based team, the bank announced last week.
Forex TV links to FCMs
NEW YORK -- Forex Television, a provider of video-based FX analysis and news, has established a transaction services group to link viewers of its news and research to a selection of futures commission merchants (FCMs) and money managers.
FXI launches managed trading for institutions
FARMINGVILLE, NY -- Online currency trading firm FXI Corporation is launching an Institutional Trading Services (ITS) division in response to growing demand for managed trading accounts from hedge funds and asset managers, an official said last week.
Crunch time for dollar slide
NEW YORK -- The coming week will be crucial in determining the strength and direction of the confused euro/dollar rate, according to market participants in London and New York.
Emerging FX takes off online
LONDON -- Increasing demand from both corporate and hedge fund clients for the ability to trade emerging markets (EM) currencies online is leading banks to boost their e-trading offerings in this area, senior officials told FX Week .
Bloomberg to add Pronet analysis
LONDON -- Bloomberg is to offer real-time FX research from UK-based analysis firm Pronet Analytics, a subsidiary of The Market Age group.
SuperD launches risk system
LONDON -- SuperDerivatives has launched an FX options risk management system, the UK-based vendor will announce today (March 1).