Currency
Hong Kong will not abandon dollar peg: HKMA’s Chan
Hong Kong Monetary Authority chief executive Norman Chan says central bank will maintain dollar peg
Battle of the currencies
Authorities around the globe remain vigilant against hot money
Lane takes top sales role at BAML in Australia
SYDNEY – Bank of America Merrill Lynch is building out forex coverage of the Australian market with a key sales hire in Sydney.
Aspen Trading takes bullish position on the dollar
Aspen Trading (Aspen) has topped the three-month currency forecast rankings and made a top-five appearance in the one-month poll this week, based on a consistent dollar-bullish position.
CFTC starts SEF regulation discussions
WASHINGTON, DC - The Commodity Futures Trading Commission’s (CFTC’s) Technical Advisory Committee began to lay the groundwork for rules that will eventually govern swap execution facilities (SEFs) last week (October 12) citing concerns over the new…
RBS bounces back with hire of new options head
LONDON - Richard Fawcett has joined Royal Bank of Scotland as global head of foreign exchange options in London.
Garwood returns to sell-side
LONDON - Lloyds TSB has hired UBS veteran Rob Garwood as its new head of global FX sales to strengthen its UK sales team in London.
ANZ revamps e-FX with Progress
MELBOURNE & SYDNEY – Australia and New Zealand Banking Group (ANZ) is in the midst of a multi-phase project to revamp its electronic foreign exchange infrastructure using the Progress Apama FX Aggregation Accelerator platform from Progress Software.
All eyes are on Asia
With all eyes focused on exchange rate policy, this year’s FX Week Asia congress could not be better timed.
Banks announce renminbi product firsts
HONG KONG & DUBAI – HSBC and Standard Chartered announced a number of firsts last week, as they try to take a lead role in the growth of the offshore renminbi market.
Analysts hit back at currency war claims
WASHINGTON, DC - Analysts are hitting back at claims that a currency war is emerging, while exposing risks associated with international co-ordination on exchange rate policy mooted to prevent a drift towards unilateralism.
Banks build strategy in US and UK
NEW YORK & LONDON – Barclays Capital, Citi and Nomura have bolstered their strategy teams through a series of new hires on both sides of the Atlantic.
HSBC FXPB preps Asia push
HONG KONG - HSBC plans to extend FX prime services to the Asian markets as it looks to take advantage of rising demand for prime brokerage in the region.
Yield strategy comes up trumps in September
Carry traders would have been the top performers among currency managers in September, indicates research from the Royal Bank of Scotland.
Larger brokers hit by retail regulations
It turns out that the sweeping regulations hitting the retail forex market are singling out not only the smaller shops, but also the larger players, such as Swiss broker Advanced Currency Markets (ACM).
HSBC completes first US cross-border renminbi trade settlement
NEW YORK - HSBC USA completed its first US cross-border renminbi settlement, following the extension of China’s renminbi trade-settlement pilot programme in June.
Emerging markets will fight the flow of capital
Bhanu Baweja, emerging markets strategist at UBS in London, looks at which emerging markets are heading towards capital controls
GFI Fenics in end-to-end FX options automation
GFI Group aims to transform the electronic FX options business by automating the entire workflow process of pricing, risk management, bilateral trading, structuring and sales, through version 12.1 of Fenics Professional.
DBS outlines ambitions amid competition for Asia business
SINGAPORE - Singapore’s DBS Bank is investing S$250 million into its treasury and markets (T&M) business as part of ambitions to become a leading Asian currency and fixed-income house.
China not likely to relent over yuan
Michael Derks, chief strategist at retail trading company FxPro in London, says US disappointment with the pace of yuan appreciation looks set to continue
Corinne Neale joins Credit Suisse for Asia foreign exchange client risk advisory
Credit Suisse has added to its Asia foreign exchange risk advisory in line with the bank's strategy to expand forex business in Asia
RBC gets bullish on USD
RBC Capital Markets tops this week’s one-month currency forecast rankings due to a bullish view on the yen.
StanChart takes Solace for FX data messaging
Standard Chartered has rolled out hardware-based messaging vendor Solace Systems’ 3260 message routers, to provide low-latency data distribution between the bank’s offices to support its new global FX trading platform.