Foreign exchange

OMS vendors tackle multi-asset risk

LONDON - Order management system (OMS) vendors are enhancing their multi-asset pre-trade analytics to address the growing trend among financial institutions of broadening the asset classes and geographies in which they trade.

Sentimental value

Naomi Fink, Japan strategist in global markets sales and trading at the Bank of Tokyo Mitsubishi UFJ in Tokyo, assesses the slump in corporate sentiment in Japan, and what this bodes for the country's economic growth

CFTC fines FX fraudsters $24m

WASHINGTON, DC - The Commodity Futures Trading Commission (CFTC) has obtained orders for five traders to pay $11.7 million in restitution and disgorgement, and $12.25 million in civil monetary penalties for selling and soliciting illegal foreign exchange…

Gold rush on Lehman's European FX team

LONDON - Dealers are willing to pay top dollar for Lehman Brothers' foreign exchange team in Europe, following the failure of administrator PricewaterhouseCoopers (PwC) to agree a sale of the defunct bank's European fixed-income unit last week.

New Fortex FX v5 cuts trade times

REDWOOD SHORES, CALIFORNIA - Multi-asset trading platform vendor Fortex has released its fifth version of Fortex FX, which cuts average roundtrip trade times to five milliseconds from 40 while supporting 500 trades per second.

Forex hedging up in US

NEW YORK - Foreign exchange hedging ratios for 2009 year-end by US corporates reached historic levels in the third quarter, as companies sought to cover rising risk from the US dollar's upturn.

OTP in USD/RUB first

MOSCOW - OTP Bank conducted its first USD/RUB trade as a market maker on LavaFX last Monday (September 22), with Dresdner Kleinwort as its prime broker.

Senior Lehman Brothers Asia staff keep their bonuses

HONG KONG - Nomura has agreed to guarantee the 2008 cash bonuses of at least 300 of Lehman Brothers' senior managing directors and vice-presidents in Asia working in fixed income, structured products and credit, said industry sources.

JPM offers new FX platform

LONDON - JP Morgan last week launched MorganDirect, a new proprietary foreign exchange trading platform that will eventually replace the incumbent JPex system.

EPFR tests EM forex flows

BOSTON - Fund flows data vendor EPFR Global is testing a new dataset that shows money flows into and out of emerging market (EM) and global currencies.

FXPB versus CCP put to the test

With concern over counterparty credit risk at such elevated levels, some question what this will ultimately mean for the smaller banks out in the market-place.

Strong Q3 for Goldman and Morgan Stanley

LONDON - Goldman Sachs and Morgan Stanley revealed strong third-quarter performances for their currencies operations, despite analysts casting doubt over the future of both businesses as standalone investment banks.

Wacker joins JP Morgan

LONDON - JP Morgan is understood to have strengthened its senior foreign exchange salesforce in London by recruiting a former sales head from Dutch rival ABN Amro.

OCBC cashes in on Asian DCR growth

SINGAPORE - OCBC Bank expects to see 20% growth in its dual currency returns (DCR) business in Singapore next year, following implementation of a structured deposit pricing and processing system from FinIQ, said bank officials.

Lehman's fall leads to liquidity drought

GLOBAL - Heightened concerns over counterparty credit risk caused a dry-up of liquidity in the currency markets last week, as dealers feared a domino effect from the collapse of Lehman Brothers on Sunday, September 14.

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