News
Fourth quarter boom for FX
LONDON -- Continued market volatility looks set to boost FX in Q4, senior bank officials told FX Week .
Options software boosts exotics appetite
LONDON -- The use of independent FX options pricing software by corporates may have narrowed banks’ margins, but it has given a substantial boost to the exotics market, banks told FX Week .
ABN to create new division
AMSTERDAM -- ABN Amro’s current global head of FX options, Douglas Bongartz-Renaud, will transfer to a new role in the bank’s wholesale banking business as part of a reorganisation set to take place over the coming months, a source close to the bank told…
India’s central bank governor to continue rupee intervention
MUMBAI -- The new governor of the Reserve Bank of India (RBI) is expected to maintain current exchange rate policies, which will cause the Indian rupee to continue its steady rise against the dollar, analysts told FX Week .
Options specialists on the move
LONDON -- FX options specialists are in demand as exotic options become increasingly important to leadership in the area.
Derivatech wins first options risk software deal in China
BEIJING -- Bank of China has licensed FX options software from US-based vendor Derivatech in what marks the country’s first forex risk management software deal.
ACI Beirut Congress: exhibition preview
BEIRUT -- Between the challenging seminar programme and the exhaustive social schedule planned by hosts of the 43rd ACI World Congress this week, the 600+ delegates will get a chance to sample product demonstrations and promotions at the exhibition.
COESfx takes Saxo’s prices
NEW YORK -- New York-based electronic currency network COESfx is set to go live with Saxo Bank’s spot FX prices by the end of this month.
Gain completes third funding round
NEW JERSEY -- Online retail FX player Gain Capital last week announced the completion of its third round of investment funding totalling $10 million. The investment from Tudor Ventures, the venture capital (VC) subsidiary of investment manager Tudor…
Four new currencies on CLS
NEW YORK -- The continuous-linked settlement (CLS) service goes live with four new currencies today (September 8), a senior official at the firm told FX Week .
SEBFX to grow with Fix
STOCKHOLM -- SEB Merchant Banking is set for rapid growth in foreign exchange by year-end as three agreements to distribute executable FX prices via the Financial Information Exchange (Fix) protocol go live, giving the bank access to a new client base,…
All eyes on the Middle East
Growing interest in Islamic banking, new technological developments and a wave of freshly repatriated money have put forex trading in the Middle East on the cusp of an exciting new era, reports Nikki Marmery
BTM updates FX platform
TOKYO -- Bank of Tokyo-Mitsubishi (BTM) expects to go live with the latest online FX solution from Irish technology company Cognotec by the end of November, senior officials at the bank in Tokyo told FX Week.
EBS sterling push prospers
LONDON -- EBS’s recently launched sterling package has resulted in a 30% increase in new counterparties to the system, an official at the spot broker in London told FX Week.
Krona to appreciate following referendum
STOCKHOLM -- The strength of the Swedish economy and the lack of eurozone growth will cause the krona to appreciate in the next six months irrespective of the result in the European monetary union referendum this week, said analysts.
DrKW gains in FX sales
LONDON -- Dresdner Kleinwort Wasserstein (DrKW) has made four new appointments in its FX sales business in London this month as part of an ongoing build-up in the area, a senior official told FX Week.
Malaysia leads the way in the Far East
KUALA LUMPUR -- The Middle East is not the only region in which Islamic banking is undergoing development. The Asia-Pacific region has a thriving Islamic finance industry, based chiefly in Malaysia, which is home to the Islamic Financial Services Board …
Persaud to manage GAM fund
LONDON -- Avinash Persaud will join Global Asset Management (GAM), the Dublin-based UBS-owned investment manager, next month as an investment director, a spokesperson for the firm told FX Week. He is charged with managing a new global currency fund that…
Citi takes Moneyline
LONDON -- Citigroup is replacing multiple Reuters products with Moneyline Telerate services at about 2,000 positions in the firm’s global fixed income division, Moneyline said last week.
Four new currencies on CLS
NEW YORK -- The continuous-linked settlement (CLS) service goes live with four new currencies today (September 8), a senior official at the firm told FX Week .
Baalbeck, City of the Sun awaits
As veterans of ACI congresses past are well aware, the highlight of the yearly meetings is usually the social programme -- and the entertainment planned by this year’s hosts, ACI Lebanon and the Interarab Cambist Association, will be no exception.
Compliance countdown for unnamed trades
LONDON -- With less than nine months before funds should comply with a new code from the Bank of England (BoE) on unnamed counterparty trading, many continue to flout the new guidelines, market participants reported last week.