Market data
GFI expands Fenics with bank volatilities
NEW YORK – Interdealer broker GFI is expanding the coverage of its Fenics pricing and risk tool to include volatility surfaces – the methods by which options are priced – from bank clients.
INR – everything is relative
The INR’s over-extended valuation against the Reserve Bank of India’s REER implicit policy anchor continues. This over-extension is looking anomalous against the continued backdrop of Asian FX selling. Claudio Piron, Asian FX strategist at JP Morgan in…
Best execution: not just price, but what else?
Process and practice should both be given serious attention before agreement can be reached on best execution in FX. By Chip Lowry (right), MD, Global Link Europe
Emerging market opportunities
There are more options in emerging markets than you might think, says Scott Wacker (below), global head, client risk advisory and sales, ABN Amro in London
CME goes live on Reuters
CHICAGO and LONDON – The Chicago Mercantile Exchange (CME) has rolled out CME FX on the Reuters Dealing 3000 platform.
EBS opens to investor community
LONDON – EBS is launching its buy-side offering this week following a successful pilot with nine banks that has been running since November.
Buy-side access to hit banks
NEW YORK & LONDON – The race to arm buy-side players with direct trading access to sell-side foreign exchange platforms will hit bank FX desks, said market players.
RBC in latest rogue trade scandal
LONDON – Royal Bank of Canada (RBC) is understood to have suspended three staff following an unlawful trade on the New Zealand dollar.
Avecia uses RBSFiX for huge deal
MANCHESTER – Avecia, a UK-based speciality chemicals company, has transacted a €495 million foreign exchange deal over the RBS FiX electronic trading system provided by the Royal Bank of Scotland (RBS).
A broader view than the yuan
While much attention is focused on a likely shift in the value of China’s currency, Ashish Advani (right), director of risk solutions at Travelex in Toronto, points to a way of hedging against the more imminent risk of free-floating Asian currency…
Making the most of fresh yen strength
A fresh bout of yen strength may be imminent. Simon Derrick, head of Bank of New York’s currency strategy team, describes a simple, low-cost strategy for currency overlay managers looking to take advantage of the latest moves
Reuters & Bloomberg target buy side
NEW YORK -- Bloomberg and Reuters are going head to head in a bid to target the burgeoning buy-side market, with forex transactional capabilities being launched by both global information providers.
Regional FX investments take off
LONDON -- Sales of investments linked to baskets of regional currencies have taken off as investors search for yields from broad macro themes in Asia and central Europe.
Further departures at Morgan Stanley
LONDON -- Morgan Stanley’s recent FX staff exodus continued with the departure of another two in sales following two leavers last week.
Asian ERM debate returns to the fore
HONG KONG -- Calls for an Asian currency regime mirroring the European exchange rate mechanism (ERM) are coming to the fore, as the region’s authorities face mounting pressure to alter their exchange rate policies.
The unitised managed assets solution
Packaging FX into a fund that retail investors can get easy access to is not straightforward, say Jan Vandendriessche, director, managed assets development, and Stephan Martinussen, senior manager, sales trading at Saxo Bank. They advocate setting up a…
Ringgit peg likely to end, say analysts
KUALA LUMPUR & SINGAPORE – The days of the Malaysian ringgit’s six-year peg to the dollar look to be numbered, according to analysts in the region.
Q4 forex gains at US banks
NEW YORK – US banks have posted strong revenues from their forex business in the last quarter of 2004, reversing the dismal returns from the previous quarter.
Kissing with confidence is key to FX
Keep it structurally simple (Kiss), says Evan Steed, director FX options trading and sales TD Bank Financial Group. This truism is especially appropriate as the greenback faces an uncertain future and regulatory change comes to Canada
The greenback/HK dollar digital deposit
Hong Kong dollar interest rates remain suppressed. Michael Image, FX structurer for Northeast Asia at Standard Chartered shows a way for HK$ depositors to achieve higher interest rates by taking advantage of the fact that US$/HK$ forwards are trading at…
UBS win prestigious forex derivatives award
LONDON – UBS won a leading industry award as the best forex derivatives house of 2004 for its cutting edge business development work.
Man Financial posts strong forex results Reuters to report revenue rise
LONDON – Reuters’ share price rose by 4.8% on the London Stock Exchange on January 13, from £3.8175 to £4, and hovered at that level by close, following a statement by the vendor on its Q1 performance.