Post-trade
Goldman's plan pays off
NEW YORK -- Goldman Sachs’ five year investment in foreign exchange is paying off, according to US banks’ financial results published last week.
Busy year ahead for FX committees
LONDON -- The forex committees of the eurozone, US and UK’s central banks will have a full agenda this year, senior officials told FX Week .
July - Top banks reap FX rewards
Top banks reap FX rewards
CLS showdown in 2003
LONDON -- The stage is set for a pitched battle for third-party CLS business in 2003, according to senior bankers interviewed by FX Week.
Israel completes shekel liberalisation
TEL AVIV -- The Bank of Israel last week announced the abolition of the last of its FX controls, making the new Israeli shekel fully convertible.
Citi endorses job sharing
LONDON -- Job sharing among forex professionals is becoming a growing trend in the markets, senior officials told FX Week .
Technology briefs
Bundesbank completes STP for foreign currency reserves
FX Week 2002 award winners
More than 1,000 banks, corporate treasuries and investors voted in our 2002 survey. Winners are listed below and split in to two pages from the links below. The Winners are pictured at the awards dinner held in London on November 21.
March - Atriax sunk by failed merger talks
Atriax sunk by failed merger talks
Commerzbank cuts in London
LONDON -- Commerzbank has shed four foreign exchange jobs in London, a source at the bank told FX Week .
Dawn of the superleague
The future of foreign exchange is outsourcing, say industry experts
Euro slumbers through ECB decision
FRANKFURT -- There was little reaction in the FX markets to the European Central Bank’s (ECB) decision to cut interest rates by 50 basis points last Thursday (December 5).
Investment banks cut FX
NEW YORK -- Lehman Brothers and JP Morgan Chase have cut FX jobs, senior officials told FX Week. The cuts are the first sign that forex may suffer as a result of the year’s depressed investment-banking activity -- so far the product has benefited from…
Unusual suspects boosted by the return of rate differentials
LONDON -- Interest rate differentials are making a comeback as a driving force in foreign exchange, as currencies backed by high interest rates continue to strengthen.
New market, new risks
LONDON -- The structure of the FX market is developing at a rapid pace, said Paul Fisher, head of the Bank of England’s FX division. That brings new opportunities -- but also new risks, Fisher told delegates at FX Week’s inaugural congress held in London…
eB2C relationships prosper
LONDON -- Bank-to-client relationships remain vital despite the march of electronic trading in forex, heard delegates at the inaugural FX Week Congress last week.
WestAM launches currency hedge fund
LONDON -- WestAM, the e38 billion asset management arm of German bank West LB, has launched a currency and fixed-income hedge fund.
Top five dealers close ranks
Shrinking market rewards top players in biggest ever forex survey
French push for ECB reform
PARIS -- A French economic think tank has urged European authorities to reform the European Central Bank (ECB) ahead of the enlargement of the European Union and the eurozone.
Aussie funds shun overlay
SYDNEY -- Australian superannuation funds’ use of currency overlay has declined, according to a report made public last week.
AIG joins CLS as new shareholder
LONDON -- American International Group (AIG) has become a shareholder of CLS Group Holdings, the holding company for Continuous Linked Settlement (CLS), the firm announced last week.
Asian banks reinvent treasury
KUALA LUMPUR -- Banks in Asia are reinventing their treasury departments to become more customer-centric, with increasingly sophisticated products, heard delegates at the forex industry congress in Kuala Lumpur.
Reuters adds Singapore dollar trading to D-3000
SINGAPORE -- Information and technology firm Reuters last week launched Singapore dollar forwards trading on its Dealing 3000 platform.
Reuters adds Singapore dollar trading to D-3000
SINGAPORE -- Information and technology firm Reuters last week launched Singapore dollar forwards trading on its Dealing 3000 platform.