Post-trade
CME to enhance electronic options trading
CHICAGO -- The Chicago Mercantile Exchange (CME) plans to enhance electronic options trading on its Globex platform following its purchase of a derivatives technology vendor in Chicago last week.
February - Heavyweights tackle anonymity risks
The risk of trading with unnamed counterparties was highlighted in February, when central banks and top players in FX joined together to combat the problem.
StanChart tops Asian interbank poll
HONG KONG -- Standard Chartered was the runaway winner for currency products in FX Week sister publication AsiaRisk ’s annual interbank derivatives poll.
Dollar dive helps set new CME records
CHICAGO -- The Chicago Mercantile Exchange reported a succession of record volumes last week, as the dollar’s dive prompted heavy trading in the world’s biggest exchange-traded FX marketplace.
FSA warns over complex products
LONDON -- Financial Services Authority (FSA) chairman Callum McCarthy has warned of the dangers of banks selling complicated financial products to customers who do not fully understand them.
Market eyes fresh dollar falls
LONDON -- Forex market analysts and traders are predicting fresh falls for the dollar in the coming months after euro/dollar hit successive record highs last week.
Lack of IT raises cost of processing options
LONDON -- The transactional processing cost of spot FX is falling, but a lack of systems investment means the cost of processing currency options remains flat this year, according to the third annual survey of banks by London-based risk management…
FX scam at top banks exposed
NEW YORK -- A currency trading scam allegedly carried out by five traders at top global banks, nine brokers and three officials at retail FX firms -- including a former member of the Federal Reserve’s FX committee -- was uncovered last week as part of…
Soft Accumulator: improving hedging levels
BACKGROUND: European importers who need to buy US dollars are not complaining about the current euro/dollar rate of exchange.
Central banks need to clarify FX intervention
TOKYO -- Central banks should be encouraged to disclose information on their motives for intervening in foreign exchange markets, according to Priscilla Chiu from the London office of the Hong Kong Monetary Authority (HKMA). In a Bank for International…
China moves to ease yuan pressure
BEIJING -- In an effort to relieve upward pressure on the yuan, the Chinese State Administration of Foreign Exchange (Safe) relaxed restrictions on outbound investment flows last week.
Traiana goes live, adds brokers
NEW YORK -- The e-FX prime brokerage industry picked up momentum last week, as the first banks went live on Traiana’s automated FX prime brokerage software and two more key prime broker banks signed up for the system.
Dollar weakness capped in short term
NEW YORK -- A short-term bounce in the US dollar was boosted by stronger US data last week, including better than expected Q3 corporate results, combined with more intervention from Asian central banks.
FX shock from fund upheaval
TOKYO -- Massive upheaval in the Japanese pension fund industry is set to have major implications for forex flows and relationships, as the process of daiko henjo -- the return of public funds to the government -- gets underway.
FX shock from fund upheaval
TOKYO -- Massive upheaval in the Japanese pension fund industry is set to have major implications for forex flows and relationships, as the process of daiko henjo -- the return of public funds to the government -- gets underway.
Pressure on funds’ currency management set to intensify
LONDON -- An inquiry into the failure of a prominent insurer's staff to hedge risks will bring increased pressure on pension funds to address their currency strategy.
Russia considers switch to euro for oil exports
MOSCOW -- If Russian officials decide to switch from the dollar to the euro in pricing their oil exports there would be a major shift in the balance of currencies behind the world’s most traded commodity. But the effects on the euro would not be seen in…
Nike, Refco make CLS choices
NEW YORK -- Top buy-side players Nike, the US training shoe manufacturer, and Refco, the Chicago-based futures broker have selected their partner banks for continuous-linked settlement.
Structurer/dealer link deepens
LONDON -- The relationship between structurers and FX sales dealers is becoming increasingly close, officials told FX Week , as banks seek to further improve their client service levels.
Deutsche Bank launches tradeable FX Indices
NEW YORK -- Deutsche Bank has launched a range of trade-weighted currency index-based (TWI) products this month to give traders the opportunity to speculate on the overall strength of currencies, officials at the bank said last week.