Foreign exchange
New board at FXall
NEW YORK - Jerry Putnam and Eddie Wen have joined FXall's board of directors, replacing Martin Spurr and Henri Foch who did not run for re-election.
FX thrives in challenging times
FRANKFURT, MEXICO CITY & MONTREAL - International banks are claiming strong foreign exchange revenue gains against challenging overall market conditions in earnings released last week.
Travelex in UK shake-up
LONDON - Travelex is embarking on a restructure within its UK business, which is leading to a number of redundancies, market sources tell FX Week .
Icap adds 15 to Global Access
LONDON - Icap has added 15 customers to its web-based trading application, EBS Global Access, which enables web-based access to EBS Spot, in a bid to move into new markets.
Retail vs professional: a clash of values
An issue that seems to be emerging is the clash of values between the retail and professional markets in how they operate, specifically what happens when deals are done on off market prices.
Olsen Financial Tech opens tick database
ZURICH - Olsen Financial Technologies, a Zurich-based historical foreign exchange tick data vendor, has begun offering unlimited access to its database of foreign exchange tick data back to 1986 and equity index futures dating back to the mid-1990s for…
StanChart relaunches sharia platform
DUBAI - Standard Chartered has relaunched a sharia-compliant version of its online treasury (OLT) foreign exchange trading and hedging platform, after incorporating the version into its global brand for Islamic products, Standard Chartered Saadiq.
ABN talks positive for CBA FX
SYDNEY - The Commonwealth Bank of Australia's (CBA) talks to buy ABN Amro's Australian and New Zealand businesses could pave the way to exponential foreign exchange growth, Boston-based consulting firm Aite Group tells FX Week .
Solutions to rouble trouble
The rouble derivatives market developed in haste after further liberalisation of the currency in July 2006 and positive changes to the Russian Civil Code 1062, centring around the previous treatment of derivatives as gaming, in January 2007.
Wachovia reveals sharp revenue jump
NEW YORK, CHARLOTTE, NC & STOCKHOLM - Despite suffering overall fixed-income revenue losses, Wachovia reported a staggering 76% year-on-year increase in global rate products, including foreign exchange, for the second quarter.
StreamBase adds 20 more clients for CEP software
LEXINGTON, MA - StreamBase has signed 20 additional clients to use its Complex Event Processing (CEP) software this year.
SocGen hires Deutsche veteran
LONDON - Société Générale has boosted its foreign exchange salesforce with the hire of ex-Deutsche Bank veteran Richard Saltzman in London, the dealer has confirmed.
And so here it is...
If you were curious to know how much revenue a retail trading company can generate in a quarter, then here it is. Read on if you want to know what the CME Group really thinks about FXMarketSpace.
Retail forex drives up Tokyo volumes
TOKYO - Retail foreign exchange margin and short-term speculative trading in Japan contributed to a 12.9% rise in average daily spot FX turnover in April to $105.3 billion, versus the same time last year, say analysts.
BarCap shakes up Asian forex management
SINGAPORE - Steve Weller, Barclays Capital's Singapore-based Asia-Pacific head of foreign exchange since 2004, has taken a sabbatical, leaving his responsibilities split among new and veteran members of the regional forex team.
Perez-Yarza emerges at JP Morgan
LONDON - A former member of Credit Suisse's foreign exchange sales team to Southern Europe, Guillermo Cebrian Perez-Yarza, has resurfaced at JP Morgan, he has told FX Week .
Korea relaxes won NDF rules
SEOUL - Plans by South Korean officials to ease restrictions on won non-deliverable forwards (NDF) trading could shift speculative trading onshore, say traders.
Deutsche ETN yields top returns
NEW YORK - Deutsche Bank's Australian dollar currency exchange-traded note (ETN) has generated the highest three-month returns among those surveyed by FX Week , at 7.86% as of July 17.
ANZ sets sights on north-east Asia
HONG KONG - ANZ has expanded its Hong Kong office to create a new regional hub for its capital markets business and foreign exchange operations across north-east Asia, officials tell FX Week .
Another good quarter for FX
BOSTON & NEW YORK - US dealers posted record second-quarter revenues from foreign exchange business, as volatility remained high over the period.
FX head quits Credit Suisse
LONDON - Credit Suisse has lost its head of UK foreign exchange sales, the Swiss dealer has confirmed.