Regulation
Asia Pacific: Intervention still a factor
BASEL – Reserve accumulation by the Asian FX market failed to stem the appreciation of a number of Asian currencies, according to the BIS's 76th annual report published last week.
FX investors defrauded
FLORIDA – Some 250 retail FX investors are set to receive $2.7 million in compensation, after a fraud committed by Gibraltar Monetary Corporation was uncovered by the CFTC.
Creating an algorithmic safeguard
Stuart Crooks, vice-president, sales for FlexFX in London, points to algorithmic trading as a way to keep up with the increasing speed at which the market moves
SunGard launches liquidity management solution
LONDON – SunGard last week launched a liquidity management solution to help corporates and banks make funding decisions based on their cash positions.
Growth in derivatives trading speeds up, reports BIS
BASEL – Trading on international derivatives exchanges has continued to pick up pace, according to the latest Bank for International Settlements (BIS) Quarterly Review, which was released last week.
Cost cutting, cutbacks and departures at West LB
LONDON - West LB is to close its trading operations in London as it transfers more of its business to Dusseldorf. There have been two senior departures following a decision to cut costs.
Philips Electronics trades 98% of FX electronically
MONTE CARLO – The e-FX market received a strong endorsement last week, with Philips Electronics revealing that nearly all its FX is transacted electronically.
Regulators stifle Basel II
MONTE CARLO - Banks may be unable to benefit from regulatory capital reductions under the Basel II reforms because of local rules and the requirements of rating agencies, according to Capital One's director of economic capital, Geoff Rubin.
Speculative positions for all currency pairs
Senior portfolio strategist Henrik Degrér at SEB in Stockholm develops a proxy to gauge speculative positions for all currency pairs
SuperD adds hedging
NEW YORK – Online options trading platform SuperDerivatives has added a number of features to its SD-FX currency option platform.
BoA boosts sales and trading
NEW YORK – Bank of America (BoA) has boosted its global FX business with three hires in New York and Singapore, it has confirmed.
Looking at the past with an eye to the future
Saturday MANILA – Saturday kicks off with a long view of the FX market, as a panel discusses how currencies have developed in recent times. The session entitled 'Evolution of currencies fixed to floating/ national to regional will be moderated by…
Nutland takes on larger role at Calyon
LONDON – French bank Calyon has named Steve Nutland as global head of trading, spot and options in London.
Philippine central bank and BoJ sign second bilateral swap deal
MANILA & TOKYO – The central bank of the Philippines (BSP) and the Bank of Japan (BoJ) have signed a second bilateral swap arrangement (BSA) under the Chiang Mai Initiative (CMI).
Fraud charges at Florida's FIG
WASHINGTON, DC – The US District Court for the Southern District of Florida has frozen the assets of foreign currency firm First International Group (FIG) following fraud charges by the US Commodity Futures Trading Commission (CFTC).
BoA poaches pair from Morgan Stanley
LONDON – Bank of America is expanding its rates capabilities with two senior hires from Morgan Stanley in London.
Lava moves into interbank FX space
NEW YORK – Citigroup subsidiary, Lava Trading has confirmed plans to launch a new interbank forex trading system this year. The move makes it the first of a number of platforms rumoured to be taking the plunge into the space.
Icap concludes deal with EBS
LONDON – Interdealer broker Icap's agreement to acquire electronic forex heavyweight EBS last week could signal a shift in the current landscape of the forex market, say analysts.
Icap concludes deal with EBS
LONDON – Interdealer broker Icap's agreement to acquire electronic forex heavyweight EBS last week could signal a shift in the current landscape of the forex market, say analysts.
CFTC finds trader liable for $32 million
WASHINGTON, DC – The US Commodity Futures Trading Commission (CFTC) has granted a permanent injunction against Ronald Steven Holt and three associated companies for financial misdemeanours, while fining them a total of $32 million.
April – a perfect storm for Asian FX?
Investors could profit from the prospect of an unusually volatile month for the normally low-vol USD/SGD. Sean Callow , senior currency strategist at Westpac Institutional Bank in Singapore, explains how this can be achieved
Demand for ETFs at an all-time high
BASEL – Demand for exchange-traded futures and options contracts reached an all-time high last year, with annual turnover up 22% on 2004, according to the latest quarterly data released by the Bank for International Settlements (BIS).
Is risk adequately priced?
An end to carry plays on high-yield emerging currencies would create volatility in FX markets and potential flight to safe-haven assets. Sharada Selvanathan , currency strategist at BNP Paribas in Singapore, suggests a basket to benefit from this
Currenex platform for Marex
LONDON - Marex Financial, a Refco spin-off, began offering Currenex's white label FX platform, FXtrades to clients last week.