Market data
BBA launches new Libor fixings
LONDON -- The British Bankers’ Association (BBA) added two new currencies to its Libor (London Interbank Overnight Rate) fixings last week.
GFI targets corporates for options pricing
LONDON -- New York-based interdealer broker GFI Group today (June 16) launches a new online FX option pricing service targeting corporate firms and lower-volume FX users.
Cheap volatility brings yen opportunities
Japanese economic growth has outstripped many western economies over the past year, and the next currency breakout in the FX markets could be yen strength. Alex Schumann and Trevor Nathan, of Commonwealth Bank of Australia in Sydney, show how investors…
Reuters FX under threat EBS-Bloomberg forex alliance prompts defiant response from UK firm
LONDON -- Reuters was last week fighting back to secure its position in FX, following the announcement of an alliance between two rivals.
EUR-denominated diesel fuel hedge
There has been a recent trend for corporates to migrate the risk management of their commodity exposure from their procurement to their treasury departments. As the corporate’s risk is centralised, it is managed as part of a portfolio of more standard FX…
Rand recovery spells good news for South African FX
JOHANNESBURG -- The dramatic recovery of the rand and surging international interest in South Africa have proved a money-maker for local banks, market participants told FX Week .
Market rounds on dollar as US doubts gather
NEW YORK -- The dollar sagged to a four-year low against the euro last week, and fell across the board.
Indian market opens up
MUMBAI -- Reform of India’s FX rules could create the next large emerging market, signalling a lucrative new area for banks to exploit.
Riding with the euro
A European client buying US dollars should consider a three-year swap to use the current euro strength to their advantage, says Pritpal Gill, head of structuring at Lehman Brothers in London
A firm view on the rand
Unexpected data revealing South Africa’s current account surplus has led Merrill Lynch to cite a firm view on the rand. Jos Gerson, chief economist for South Africa in Cape Town, explains key factors that must be taken into account in coming to a solution
ABN, Deutsche top forecast rankings
LONDON -- ABN Amro was the most accurate currency forecaster based on a one-month prediction made on March 7, while Deutsche Bank took top spot for 3m forecasts submitted three months ago in FX Week ’s table of forecasters (see below).
Client trading volumes rising
LONDON -- Booming hedge fund interest and an increasing number of client banks in the market are boosting global customer forex volumes, according to data from research consultancy Greenwich Associates.
Audits attract UK funds to overlay
LONDON -- A growth in audit services to assess forex transaction costs is sparking increasing interest in currency overlay among UK pension funds.
War nerves compound cross-border M&A slump
LONDON -- Increased risk aversion due to uncertainty over the war in Iraq took its toll on cross-border mergers and acquisitions (M&A) in the first quarter of this year, according to data released at the end of March.
Trading practices yet to change post-CLS
NEW YORK -- Banks are reporting little change in the way they trade as a result of using the new continuous-linked settlement (CLS) service, according to an official survey out this week.
Electronic options broking to rise
LONDON -- Electronic broking of FX options is set to rise over the next 12 months, finds new research out this week.
Conflict puts newswires on overdrive
LONDON -- Market data firms reported booming interest in their services last week, as traders are increasingly turning to war reports to influence their trading.
Electronic options broking to rise
LONDON -- Electronic broking of FX options is set to rise over the next 12 months, finds new research out this week.
White-label trend takes root
LONDON -- The liquidity outsourcing industry is reaching a crucial stage in its development, according to bankers, vendors and analysts polled by FX Week .
Conflict puts newswires on overdrive
LONDON -- Market data firms reported booming interest in their services last week, as traders are increasingly turning to war reports to influence their trading.
White-label trend takes root
LONDON -- The liquidity outsourcing industry is reaching a crucial stage in its development, according to bankers, vendors and analysts polled by FX Week .
Further uncertainty grips market
LONDON -- FX markets breathed a sigh of relief last week as the war in Iraq got under way, but as one source of uncertainty was removed, another popped up.
BarCap lures top dealers
LONDON -- Barclays Capital is in the midst of an aggressive recruitment campaign in London and New York, targeting staff at the world’s top investment banks.
Rumours hit jumpy FX markets
LONDON -- FX markets starved of certainty saw some price movement last week, mostly on the back of unconfirmed rumours regarding the war in Iraq.