Risk management
Lloyds TSB expands forex solutions team
LONDON - Lloyds TSB Corporate Markets has made four hires in its corporate and institutional foreign exchange solutions team in London, as part of a continued effort to expand its risk solutions service.
Will we ever move to a fee-based model?
The competition to gain retail clients and white-label partnerships by retail trading companies and vendors is leading to more creativity in service provision.
JP Morgan live on FXSettle
CHICAGO - JP Morgan has emerged as one of the three prime broking banks using settlement system FXSettle on trading platform FXMarketSpace (FXMS).
Banks and hedge funds spur growth in OIS trading
LONDON & NEW YORK - Central bank activity has contributed towards a surge in trading overnight index swaps (OIS) over the past year, according to dealers.
Automated FX trading models provide diversified alpha
David Popplewell, director of currency structuring at RBS in London, says to look beyond carry baskets and actively managed foreign exchange allocation to generate alpha from FX
Small US banks free to use standardised approach
WASHINGTON, DC - The Federal Reserve has announced it will permit smaller US financial institutions to implement the standardised approach for Basel II compliance, acknowledging misgivings raised by banks over previous proposals.
New generation CEP for forex liquidity
A white paper being released today (June 30) is set to evangalise the benefits of using adaptive complex-event processing (CEP) technologies for liquidity management in foreign exchange.
Quant demand in full force
GLOBAL - The high demand for quantitative foreign exchange specialists continues, fuelled by concerns over risk controls and growth in local currency derivatives and hybrid derivatives trading, industry sources have told FX Week .
Margin FX "gambling" banned in China
BEIJING - China's banking regulators have issued a ban on FX margin trading, citing poor risk management among Chinese commercial banks licensed to provide the service. Existing margin trading accounts need to be settled as quickly as possible, added the…
Between a rock and a hard place
Patrick Lefler, foreign exchange consultant at Wall Street Systems in New York, looks at the future of CLS as demand grows for bilateral netting
Global heads quit StanChart
SINGAPORE - Standard Chartered has been hit by senior management departures in Singapore, amid the bank's continuing restructuring, launched at the end of last year.
Death by association
The application of credit technology to diverse underlyings led to the birth of collateralised foreign exchange obligations in 2006. But despite being built from uncorrelated underlyings, their fortunes have proven highly correlated with the wider market…
Why you should know your customers
If market rumours are anything to go by, Currenex, Fixi and an FX prime broker could be locked in bitter recriminations after an algorithmic trading client of London-based investment house Fixi blew up last month.
New roadmap standardises messaging
GLOBAL - A group of financial market messaging organisations released details of an investment roadmap designed to standardise messaging use across the industry earlier this month.
FSS suspends State St FX in South Korea
SEOUL - South Korea's financial regulator has suspended the FX business of State Street's Seoul branch for a month, following the discovery of violations to FX regulations.
TD in Asia hub shake-up
SINGAPORE, SYDNEY & TORONTO - Toronto Dominion Securities has relocated its Asia foreign exchange and rates trading hub from Sydney to Singapore, in a move to boost its coverage of the emerging markets.
UBS removes US mortgages from VaR
ZURICH - UBS has announced a change to its risk measurement techniques: exposures to US mortgages are no longer included in its daily calculations of value at risk (VaR).
BarCap offers retail white-label service
LONDON - Barclays Capital is breaking into the mass and private wealth management markets for foreign exchange with the launch of a white-label margin FX trading service called Barx White Label for Private Investors.
StanChart raids Lehman Bros for structured products team
LONDON & SINGAPORE - Standard Chartered has poached three senior managers from Lehman Brothers, to expand its Singapore-based global structured products trading operation.
Banks vow to improve transparency
WASHINGTON, DC & FRANKFURT - The Institute of International Finance (IIF), a banking industry trade group, has promised to improve transparency over risk exposure and executive pay in the wake of the credit crisis.
SuperD offers exit pricing
LONDON - Market turmoil and increased regulation has prompted data and software vendor SuperDerivatives to add liquidation, or exit, pricing to its portfolio revaluation services.