Foreign exchange
Deutsche boosts prime brokerage
LONDON – Deutsche Bank upped the ante for prime brokerage providers by extending its offering with the introduction of options, non-deliverable forwards (NDFs) and increased processing capabilities.
2005: a positive year for forex
NEW YORK – The Foreign Exchange Committee (FXC) last month issued best practice guidelines for prime brokerage in response to rising participation and transaction volumes in the space.
Preparing for Korean won under-performance in 2006
Standard Chartered’s economics and FX strategy team suggest ways to position for a weaker Korean won in 2006
China heading for free market
BEIJING – China took two further steps towards currency liberalisation with a widening of the yuan trading band and the introduction of forwards trading for corporates.
Best practice guidelines for prime brokerage
NEW YORK – The Foreign Exchange Committee (FXC) last month issued best practice guidelines for prime brokerage in response to rising participation and transaction volumes in the space.
CFTC charges 13 with defrauding $6m
WASHINGTON, DC – The Commodity Futures Trading Commission (CFTC) has charged 13 Florida residents with defrauding nearly 400 customers of more than $6 million. The CFTC filed a complaint on December 22 charging the 13 with fraudulently misappropriating…
UBS and Bloomberg deal draws criticism
LONDON – UBS and Bloomberg started their year off controversially after a deal for global futures trading through the market data terminal drew criticism from brokers. Under the agreement set in place in 2004, futures trades placed by new users of the…
PBoC liberalises derivatives
BEIJING – The People’s Bank of China (PBoC) issued new regulations allowing banks to trade renminbi forwards and cross-currency swaps in the interbank FX market.
Best practice guidelines for prime brokerage
NEW YORK – The Foreign Exchange Committee (FXC) last month issued best practice guidelines for prime brokerage in response to rising participation and transaction volumes in the space.
Forex head leaves RBC Capital Markets
TORONTO – RBC Capital Markets' most senior member of foreign exchange staff has left the bank, a source on the desk has confirmed.
Record results for US banks
NEW YORK – US investment banks have stormed through 2005, with record-breaking results from fixed-income divisions released last week.
Enigma – a cracking good model
Pete Eggleston, head of quant solutions at the Royal Bank of Scotland, financial markets, in London, discusses systematic trading of FX implied volatility using the 'Enigma' model
BGC poaches seven from IFX
LONDON – A seven-strong sales and trading team are understood to have quit IFX Markets – the London-based financial trading and spread-betting company – last Friday.
ODL expands into Chicago
LONDON – ODL Securities is expanding its global presence with a new sales office in Chicago, according to a senior official in London.
Bank forex heads look to alternative staffing options
LONDON – Forex desk heads are increasingly looking to poach staff from other areas within their banks in a bid to limit wage inflation.
New service from IF
LONDON – IFX markets is set to launch a money management service aimed at third-party clients in the new year.
Over-the-counter options drop down under, says Afma
SYDNEY – Trading in over-the-counter options fell by more than a third this year, according to figures released by the Australian Financial Markets Association (Afma).
M&G to sign with FX Connect
LONDON – M&G is set to sign up with FX Connect in the early part of next year, as it looks to take its FX transactions onto an electronic basis.
Travelex targets Aussie corps
MELBOURNE – Global forex specialist Travelex is set to target companies in Australia with the launch there of an online system early next year.
Emerging markets options go online
LONDON – Banks are building up online capabilities for emerging market currency options as the market for the products continues to expand.
Time to get with the program
Banks are having to move rapidly to develop their platforms just to stand still. They have been launching new products onto platforms to meet demand from customers looking to do business in new ways, as shown by the increasing number of banks trading…
Deutsche rolls out new version of autobahnFX
LONDON – Deutsche Bank has released an upgraded version of its platform autobahnFX that provides users with greater configurability for pricing.