Foreign exchange

FX algos no longer just for big players

LONDON - Gaining an edge in foreign exchange execution through trading algorithms is no longer the domain of just the largest forex dealers, according to a panel at the FX Week Europe congress last week.

UBS makes more changes to FICC team

ZURICH - UBS has unveiled further changes to its newly created fixed income, currencies and commodities (FICC) division, less than a month after revealing substantial third-quarter losses relating to the subprime crisis.

UBS makes more changes to FICC team

ZURICH - UBS has unveiled further changes to its newly created fixed income, currencies and commodities (FICC) division, less than a month after revealing substantial third-quarter losses relating to the subprime crisis.

UniCredit expands FICC

NEW YORK - UniCredit has hired a new head of fixed income, currencies and commodities (FICC) for the Americas, as part of a push to expand its global foreign exchange franchise.

FXMarketSpace trading slow in October

CHICAGO - Trading on FXMarketSpace continued to decline in October, with average daily volumes dropping 16% to $696 million, according to figures released by the platform last week.

European dealers post record FX results

ZURICH & FRANKFURT – Losses linked to the credit crisis have overshadowed what has been a bumper third quarter for foreign exchange dealers, according to results released last week.

Citi hires two new heads for Asia-Pacific FICC

HONG KONG & SINGAPORE – Citi has hired Rodrigo Zorrilla and Aamir Rahim to co-head its Asia-Pacific fixed income, currencies and commodities (FICC) business, following the departure of Jeremy Amias this summer.

Saxo and JDFX offer risk management online

COPENHAGEN & ZURICH – Saxo Bank and Zurich-based foreign exchange trading company JDFX are today releasing Meta RMS, a risk management software package within JDFX’s online trading front end, MetaTrader.

GFI expands FX options trading

NEW YORK – Interdealer broker GFI Group plans to enable trading in foreign exchange options with specific interests, on electronic FX options broking system ForexMatch early next year, according to senior officials at the company in New York.

Proquote signs up for Tullett’s data

Tullett Prebon Information is feeding real-time pricing data for money markets, rates and fixed income to Proquote, the London Stock Exchange’s (LSE) multi-asset class market data and trading terminal.

Merrill suffers $5.6 billion FICC losses

NEW YORK – Merrill Lynch last week reported record results in interest rates and currencies during the third quarter, but gains were wiped out by big losses in credit and mortgage markets.

FXCM launches systems selector

NEW YORK - Online broker FXCM has created a new systems trading platform, Forex System Selector (FSS), which allows clients to customise and manage their own trading systems.

Citi posts double-digit FX growth

YORK - Citigroup last week reported double-digit percentage growth in foreign exchange revenues during the third quarter, but FX gains were overshadowed by massive losses in the credit and mortgage markets.

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