Post-trade
Energy costs and hurricane Katrina hit currency funds
STAMFORD – Currency fund managers took a hit in August against a backdrop of high energy prices and the costly destruction caused by hurricane Katrina.
Hong Kong set for retail yuan NDF contracts
HONG KONG – Authorities in the Special Administrative Region are to follow China's lead in making renminbi non-deliverable forwards (RMB NDFs) available for trading next month.
Yuan for the money
With the growing importance of the Chinese market, James Malcolm, senior currency strategist at Deutsche Bank in Singapore, suggests range-trading USD/CNY NDFs from the short side, to capture gains
UBS to build post-trade hub
ZURICH – UBS is to set up a single portal to enable all post-trade processing across different asset classes to go through one centre.
CST to complete takeover talks
LONDON – Collins Stewart Tullett (CST) plans to complete talks with potential buyers by the end of October, it announced last week.
All this and more
In the final multibank platform focus, FX Week looks at the prospects of FXall in its bid to continue the growth it saw in its first four years
GFI and Traiana offer processing boost for forex options trading
NEW YORK and LONDON – FX options trading is to get a boost, with broker GFI and technology vendor Traiana both launching automated processing services in the market.
UBS reaps distribution rewards
STAMFORD – UBS is seeing strong take-up for dual currency deposits (DCDs) by US retail clients after launching the product for the US market earlier this year.
GFI and Traiana offer processing boost for forex options trading
NEW YORK and LONDON – FX options trading is to get a boost, with broker GFI and technology vendor Traiana both launching automated processing services in the market.
RBS hits top spot in Risk poll
LONDON – Derivatives market giants Deutsche Bank, JP Morgan, UBS and Credit Suisse First Boston (CSFB) are facing a threat from a wider number of banks trying to capture interbank business.
The first to Connect
In the penultimate platform focus, FX Week assesses the prospects of pioneering platform FX Connect
Eurex to roll out its futures platform in United States
CHICAGO & Frankfurt – Eurex, the Frankfurt-based derivatives exchange, will be rolling out its FX futures platform in the US this month as planned, confirms an official at the exchange in Frankfurt.
Banks risk US regulatory backlash
NEW YORK – FX banks could face a regulatory backlash in the US for the mis-selling of FX products by retail brokers, warn market players.
Corporate customers 'unhappy with bank service' – SAP boss
COPENHAGEN – Corporate customers are dissatisfied with current levels of service from their banks, said Léo Apotheker, president of global field operations at technology vendor SAP at the 2005 Sibos conference held last week.
360T moves beyond home territory
The fourth interbank platform profile sees Germany's 360T looking to expand
Don't fall behind, use the REER
The real effective exchange rate holds the key to how the government can manage damaging rupee fluctuation, according to Kotak Mahindra Bank's Treasury Solutions team in India
Credit Suisse launches back-office outsourcing service
LONDON AND ZURICH - Credit Suisse has launched a back-office outsourcing service for banks and corporates.
UBS's corp sales head to depart
SYDNEY AND LONDON - UBS has undergone major changes in foreign exchange globally, with a change to the global head of corporate FX and a promotion in the structuring group.
CLS heads for the buy side
NEW YORK - CLS is to expand into non-deliverable forwards (NDFs) and OTC options - a move that could pave the way for far greater buy-side participation on the settlement system.
The technology to succeed
In-house technology will drive volumes and profit, says Charles Marston, chief executive officer at Calypso in San Francisco
The relative merits of zero-premium structures
Zero-premium structures can do a better job as a hedge than a vanilla instrument, when the full cost of insurance is paid. By Kenrick Ramlochan, director, FX analytics and risk advisory at ABN Amro in London