Risk management
The carry trade shows best returns
LONDON – Carry trading can still produce positive returns, but trend trading models are losing ground, Citigroup's risk advisory group director, Jessica James told the FX Week Europe Congress.
Citigroup plays catch-up
Citigroup's recent investment in forex technology appears to be paying off, as demonstrated by the bank's resurgence this year
Malaysia sets up payment-versus-payment system
HONG KONG & KUALA LUMPUR – The Hong Kong Monetary Authority and Malaysia's central bank (Bank Negara Malaysia) launched a cross-border payment-versus-payment (PvP) settlement system last week.
ABN Amro cuts 500 more IT and risk jobs
AMSTERDAM – The Dutch banking group ABN Amro is cutting 500 more jobs from its IT and risk divisions, according to bank officials.
E-commerce source of best forex talent, says market
GLOBAL – Forex staff with e-FX skills and experience are the new recruitment market 'sweet spot', according to banks and headhunters.
Hedging ahead of takeover activity
Stephane Knauf, Global Head of FX Structuring at Citigroup in New York, proposes deal-contingent forwards and options to hedge risks ahead of a potential cross-border acquisition
Big banks prepare for retail FX push
SINGAPORE – Major banks are about to enter the online retail FX trading market-place "with a vengeance", said Brian Maccaba, chairman of FX dealing platform vendor Cognotec.
Flextrade to launch block trading platform
NEW YORK – Trading technology vendor Flextrade plans to launch the first block FX trading platform for the sell-side and buy-side next month, FX Week has learned.
Managing exposure to forex volatility
Manuel Deijk in the structured FX team at UBS looks at a selection of quantitative methods applied in the implementation of FX risk management policies
Human touch will always be needed
Markets have been on the move again this week. Comments from retired Fed chairman Alan Greenspan about the US housing market and noise surrounding China's reserve policy ensured that the greenback at last broke through the 1.26–1.28 range that it had…
Flextrade to launch block trading platform
NEW YORK – Trading technology vendor Flextrade plans to launch the first block FX trading platform for the sell-side and buy-side next month, FX Week has learned.
How Saxo gained the Midas touch
Lars Seier Christensen and Kim Fournais have seen their business plan unfold since 1992 from FX broking boutique to billion dollar internet bank, reports Rob Shepherd
Standard Chartered adds fair-value model for yen
TOKYO – Standard Chartered last week introduced a fair-value model for the yen to take into account the growing interest in the Japanese currency.
Anonymity does not always equal profitability
FXall has jumped on the anonymity bandwagon, and the Reuters/CME venture offers another way to access liquidity discretely. But whether these ventures will succeed is debatable.
Bond and cyclical trades best for currencies
LONDON – Bond spread and cyclical divergence trades should make up a greater share of currency portfolio risk in coming months, according to research from JP Morgan.
Building long AUD/NZD positions with less risk
Besa Deda, Sydney-based currency strategist for the Commonwealth Bank of Australia, looks at how to gain long exposure to AUD/NZD amid high volatility
COESfx fined over fraud
WASHINGTON, DC – Two more cases of forex fraud were revealed last week, with US FX platform COESfx fined for misleading customers who suffered heavy trading losses.
BoA adds to London staff
LONDON – Bank of America (BoA) has made a number of hires in London as it continues to expand its forex capabilities in the City.
China approves cross-currency master agreements
BEIJING & HONG KONG – A master agreement for renminbi cross-currency forwards and swaps drawn up by China's foreign exchange regulator was approved by the State Administration of Foreign Exchange earlier this month.
Difference of opinion over future of exchange
NEW YORK – Opinions remain divided on whether the market has room for an FX exchange, according to a panel on the subject at the FX Week USA 2006 conference.
The Chinese way
A lot has happened in China since its accession to the WTO in 2001. Arnie Papp, general manager for Asia-Pacific at Calypso, explains the effect the changes have had on FX in the region
Integral completes forex trading offering
MOUNTAIN VIEW, CALIFORNIA – Integral, the US technology vendor, has launched FX Inside Plus to streamline and automate the entire foreign exchange trading process, from origination to distribution.
Conference vendor news
This year's New York event has more vendors than ever. Here we present a quick guide to what some of them will be promoting