Risk management
Speculation mounts over exotic FX hedge ban in India
MUMBAI - Mounting concerns over the mis-selling of exotic foreign exchange derivatives to small and medium-sized enterprises (SMEs) in India has sparked speculation of a ban on sales of the products by the Reserve Bank of India (RBI).
How to get more from your basket
Duncan Farnsworth, director, currency structuring group, at the Royal Bank of Scotland in London, explains how to improve the performance of basket structures
Choosing the right carry strategy
Nikki Marmery reports on the proliferation of carry trade indexes and outlines the key differences between the main banks' offerings
Three simple steps towards risk immunisation
Société Générale - there but for the grace of God? Justyn Trenner and David Poole, principals of client strategy firm ClientKnowledge in London, offer a short check-list of factors to protect against a similar occurrence
Nothing beats a good trading scandal
The past week has produced a frenzy of headlines, from the FTSE index hitting seven-year lows and the Federal Reserve's surprise 75 basis point rate cut, to the billions of dollars in writedowns at major dealers. But nothing grabs the attention as much…
Seeking a sterling collapse
By Pete Luxton, global markets adviser, and Dave Willmer, foreign exchange options market strategist, at Informa Global Markets in London
Nordea builds algorithms
COPENHAGEN - Nordea plans to begin using algorithms for trading and risk management within the first half of this year, a senior official has told FX Week .
Currenex platform revamp boosts corporate coverage
NEW YORK - Currenex has released a redesigned platform in an effort to boost activity from the corporate market, FX Week has learned.
There's nothing as certain as change
Happy New Year! As we enter 2008, one thing is for certain - the evolution of the foreign exchange industry continues at an unprecedented rate.
Subprime crisis drains FX bonus pool
LONDON - Staff at banks worst hit by the subprime crisis are due to face reductions in cash payouts, sources tell FX Week .
Banks brace for algo trading boom in 2008
As the industry continues to digest the credit market's meltdown, foreign exchange trading volumes continue to boom. Representatives of the major FX banks, Credit Suisse, HSBC and Saxo Bank, discuss the main technology trends in e-FX trading to watch in…
Wayward US forex brokers struck off the register
WASHINGTON, DC - The US Commodity Futures Trading Commission has revoked the introducing broker registrations of Next Financial Services Unlimited and New World Trading, due to fraudulent FX activities.
Icap strengthens grasp on emerging markets
LONDON - Interdealer broker Icap has expanded in emerging markets, signing Raiffeisen Zentralbank Oesterreich (RZB) onto EBS Prime, its professional foreign exchange prime-brokerage solution.
VAR exceptions rise in third quarter
NEW YORK & ZURICH - Volatility in financial markets led investment banks to far exceed thresholds for trading losses in the third quarter, casting doubt on their risk modelling.
Fincad launches in the UK
DUBLIN - Financial analytics software and service provider Fincad has expanded its international operations by establishing an EMEA headquarters in Dublin.
India to trade rupee futures
MUMBAI - The Reserve Bank of India (RBI) is preparing to introduce rupee futures to create more hedging tools in light of rising capital inflows.
Constantia upgrades
SAN FRANCISCO - Calypso Technology has been licensed by Austria's Constantia Privatbank to provide a cross-asset class platform for front, middle and back office.
Retail sets the pace for future of forex
LONDON - The retail market is likely to set the standard for the future of foreign exchange, said panelists at the FX Week Europe conference last Tuesday.
SuperD adds inflation products to platform
NEW YORK - Derivatives data and pricing software vendor SuperDerivatives is adding support for inflation-linked securities and derivatives to its SD-IR interest rate derivatives pricing module, in response to client demand for data to hedge inflation…
Time for a new market structure
The irony of the FX markets is that calls for post-trade efficiencies today are rooted in the overall efficiencies seen to date. But the fact is that the market is reaching a critical turning point.
Merrill suffers $5.6 billion FICC losses
NEW YORK – Merrill Lynch last week reported record results in interest rates and currencies during the third quarter, but gains were wiped out by big losses in credit and mortgage markets.
Market innovation threatens platforms
SINGAPORE - Growth in the Asian FX market is leading to big operational changes in the way buy- and sell-side institutions do business, according to Justyn Trenner, chief executive at market research company ClientKnowledge.
Forex settlement risk: banks look beyond CLS
Rick Schumacher, director of products at Wall Street Systems in New York, evaluates the foreign exchange market's alternatives to CLS