News
Reuters adds Singapore dollar trading to D-3000
SINGAPORE -- Information and technology firm Reuters last week launched Singapore dollar forwards trading on its Dealing 3000 platform.
Rate cut turns market anti-dollar
NEW YORK -- The US dollar hit three-month lows against several major currencies last week, triggering a welcome return of volatility to the markets after months of range trading.
Trading places
Bayerische Landesbank rejigs European FX German firm Bayerische Landesbank is reorganising its European forex business, a senior official at the bank in London told FX Week .
Lehman expects to hire in FX despite rumoured IB cutbacks
LONDON -- Lehman Brothers’ foreign exchange operations will not be affected by cuts in investment banking in Europe, a senior official at the bank in London told FX Week .
Alpha closes London FX
LONDON -- Greece’s Alpha Bank has closed its London treasury and capital markets operation and moved all FX trading to its Athens HQ, a senior official at the bank in London told FX Week .
Overlay demand hits new peak
LONDON -- An anticipated decline in the value of the US dollar is boosting demand for currency overlay, according to FX specialists in London and New York.
Candollar ready to fly
The Canadian dollar is poised to appreciate versus the US dollar in the medium term, says George Davis, currency market strategist at RBC Capital Markets in Toronto
Fundtech in front for CLS vendors
JERSEY CITY -- More CLS Settlement Members -- banks holding direct accounts with FX settlement service CLS -- have used Fundtech to process their payments than any other vendor.
RBC snares two for sales team
LONDON -- Royal Bank of Canada Capital Markets has hired two new staff for its FX sales operation in London.
Yen shrugs off loans plan
TOKYO -- There was muted reaction in the FX markets last week to the Japanese authorities' plans to tackle bankss bad loans and revive the region's faltering financial system, analysts told FX Week .
Credit ratings come into FX focus
LONDON/NEW YORK -- Credit ratings are becoming increasingly significant to FX market players, with downgrades increasing in the current economic downturn, market participants told FX Week .
AutoDeal+ sees light
LONDON -- FX trading technology vendor Cognotec will today (November 4) launch AutoDeal+, its new foreign exchange trading platform.
FXall expands STP influence
LONDON -- Multi-bank FX trading portal FXall last week announced complete straight-through processing (STP) for clients of treasury management system vendors XRT, Selkirk and SimCorp.
Tech briefs
SuperDerivatives snares Mizuho FX options pricing vendor SuperDerivatives has added Mizuho Corporate Bank to its client list.
ANZ completes merger of spot and options trading
MELBOURNE -- ANZ Investment Bank has completed a reorganisation to merge spot and options trading, in favour of expanding its global sales forces.
Singapore banks link for CLS
Singapore -- Three Singaporean banks will go live this December with a joint back-office processing link to the Continuous Linked Settlement (CLS) service for foreign exchange.
Citi to outsource e-liquidity
Forex giant goes online to service growing ranks of 'buy-side' banks
Asia FX specialists key to onshore expansion
HONG KONG -- Market participants with specialist knowledge of Asian FX are becoming more valuable as banks expand their onshore FX options services in the region, senior options officials told FX Week .
Trading places
Goldman gains in FX sales
CLS authorises third-party services launch
LONDON -- CLS Bank today (November 4) authorised its Settlement Members to offer Continuous Linked Settlement to their banking customers.
Swissie stays stable
Risk aversion has aided Swiss franc progress, says David Durrant, chief currency strategist at Julius Baer Asset Management in New York
CLS News 1
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Expansion in forwards trading and teams
LONDON -- The FX forwards market is seeing an influx of new dealers and trading systems as players battle for market share in the lucrative sector.