Risk management
Lehman launches quant platform for currencies
LONDON - Lehman Brothers has launched the Macro Quantitative Currency Strategies platform (MarQCuS), an investable product enabling investors to access quantitative foreign exchange strategies.
SPECIAL FEATURE: CLS settlement: the next five years
This month marks the five-year anniversary of CLS. FX Week and Rob Close, president and CEO of CLS Bank, discuss the past five years and the future of the industry utility
Market-makers need to get technical
The recent weeks of volatility have highlighted the need for dealers to have appropriate systems in place to manage and assess FX trading activity. As a number of dealers experience record volumes in August, others question the profitability of these…
Rating agencies assess CP markets
EUROPE – Fitch Ratings and Moody's sought to capture the effect of the commercial paper (CP) market's lack of liquidity on the wider banking outlook in two conference calls last week.
Banks sign up for pre-settlement netting
NEW YORK – Several banks have signed up for an interbank pre-settlement netting solution due for launch by post-trade technology vendor Traiana in coming months, a senior official at the company told FX Week .
Banks sign up for pre-settlement netting
NEW YORK – Several banks have signed up for an interbank pre-settlement netting solution due for launch by post-trade technology vendor Traiana in coming months, a senior official at the company told FX Week.
Keeping pace in an explosive market
Rick Schumacher, product manager at Wall Street Systems in New York, explores recent transformations in the FX market and the new challenges and opportunities these present for banks
Augustus launches new currency fund
LONDON – Augustus Asset Managers (AAM) has launched the JB Currency Hedge Fund, a currency fund mixing discretionary and systematic investment techniques. The move marks the manager's first move into pure FX management.
Derivative Fitch launches beta CFXO model
LONDON – Derivative Fitch last Wednesday (June 27) released a beta version of its Vector CFXO model for collateralised foreign exchange obligations, aimed at increasing transparency in the market and the understanding of its ratings.
Participating in a rangy/bullish spot
How can clients maximise potential gains from favourable spot moves while minimising the downside risk? Eric Ohayon of Bank of America in London investigates
Traders shrug off Brazilian controls
BRASILIA & NEW YORK – Traders and analysts have largely shrugged off currency and capital controls introduced by the Central Bank of Brazil on Friday, June 8.
Call for rejig in liquidity management
LONDON – FX banks are in need of a radical overhaul of their liquidity management systems, according to research released Friday (June 15) by London-based research and advisory company ClientKnowledge.
FX and DX: volatility events and the bid-ask spread
Charles Wright suggests a rational means for adjusting the bid-ask spread to compensate for the uncertainty associated with routine event-driven conditions
FXMarketSpace's advantage is eroded
FXMarketSpace has released its second set of volume figures, showing the platform is growing steadily.
The rise of the vol product
To get pure exposure to the new asset class, Philippe Lintern , head of FX Complex Products at The Royal Bank Of Scotland in London, proposes volatility products
FXCM: tough questions for Deutsche
The fact that four banks have shown interest in acquiring a 35% stake in online currency trading platform FXCM has led many to question what this means for Deutsche Bank, which is understood not to be bidding for FXCM despite the white-label deal for…
To net or not to net? That's CLS's question
He who shouts loudest will be heard? If the old adage is true, then settlement platform CLS should be moving into netting.
Citi embarks on major shake-up
NEW YORK, LONDON & SINGAPORE – Citi has completed the next phase of senior management changes in FX under the new fixed income, currencies and commodities (FICC) structure introduced in 2006.
Market nonchalant about FXMS data
CHICAGO – Market participants largely shrugged off volume data released by Reuters/Chicago Mercantile Exchange (CME) joint venture platform FXMarketSpace last week, claiming it is too early to judge the success of the platform.
Citi embarks on major shake-up
NEW YORK, LONDON & SINGAPORE – Citi has completed the next phase of senior management changes in FX under the new fixed income, currencies and commodities (FICC) structure introduced in 2006.
Feeling the strain of high-volume trading
The decision to roll out netting services by electronic communications network Hotspot FXi demonstrates initiative on the platform's part.
Collateralised FX obligation market takes off
LONDON – The market for collateral- ised foreign exchange obligations (CFXO) is gaining pace, with Derivative Fitch establishing a ratings methodology for the products.
SEB chooses Apama for FX algorithmic trading
STOCKHOLM – Swedish bank SEB will begin using algorithmic trading technology from Apama in FX from the fourth quarter of this year, with a view to rolling out the technology to buy-side clients.
FX and DX: valuing the US Dollar Index futures contract
Several theoretical models have been proposed in the 22 years since the DX futures contract was launched. Here, Charles Wright, principal of Alpha Numerics in New York, discusses a numerical approach