Trading
CBA wins out, exploiting yen weakness
The Commonwealth Bank of Australia (CBA) topped this week's one- and three-month rankings with its non-consensus view on the yen coming through.
Charting the rise of the ruble
Dmitri Fedotkin, economist at VTB Bank Europe, says the Russian ruble is set to rise further against the dollar and euro this year
Forex gap widens between London and New York
LONDON & NEW YORK – Forex volumes in London have outstripped those of rival trading centres, as the boom in mergers and acquisitions (M&A) and proximity to emerging markets provides a boost to the UK capital.
The importance of best execution
The biggest piece of news to come out of last week is the sale of Currenex to State Street for $564 million.
Mifid explained – an introduction
Chris Pickles, chair of the Mifid Joint Working Group in London, discusses the implications of the directive on foreign exchange
State Street acquisition of Currenex sends shock waves
BOSTON – US bank State Street's decision to acquire FX trading platform Currenex for $564 million has sent shock waves through the industry.
Watching interest rates reaps rewards
Paying close attention to interest rates and their likely movements has helped Investors Bank & Trust repeatedly feature at the top end of the short-term forecast rankings.
Sterling to run out of steam
LONDON – Despite excitement in the markets as sterling approaches the iconic value of $2, market analysts surveyed by FX Week are unconvinced the currency will breach that level.
Margin FX offer for Japanese traders
TOKYO – Online securities house Monex is going live this week with Monex FX Pro, an internet-delivered trading system.
Currenex builds out order types
LONDON – Currenex has released version 9.0 of its trading software, which sees the inclusion of advanced order types.
CMC's aggressive strategy pays off
Over the past few weeks, CMC Markets has been doing well on its short-term predictions. This week, the online trading company has again managed to come out top of the one-month rankings and one-month historical index ( FX Week , January 15).
FXMarketSpace to spur consolidation
WESTBOROUGH, MASSACHUSETTS – FXMarketSpace will facilitate consolidation in e-FX, according to Robert Iati, partner at research and advisory company TABB Group.
EBS pushes out netting service
LONDON – EBS has begun rolling out its new netting service to prime broking banks, after completing a pilot with ABN Amro.
The forint faces an imminent setback
Meg Browne, senior currency strategist at Brown Brothers Harriman in New York, warns of the perils facing the Hungarian currency
G10: a roadmap for 2007
Teis Knuthsen, head of FX research at Danske Bank in Copenhagen, outlines a roadmap for G10 currencies in the first half of 2007
Tradition poaches Tullett Prebon personnel
LONDON & JOHANNESBURG – Interdealer broker Tradition has raided Tullett Prebon, as it expands its emerg- ing markets capabilities in London and Johannesburg.
Consolidation is the key theme
The theme of consolidation in the brokerage industry continues this year, with Société Générale and Calyon confirming exclusive negotiations to merge their brokerages Fimat and Calyon Financial. But what happened to all that talk about consolidation in…
FXall volumes surged 45% in 2006 on growing market
LONDON – Trading volumes on multibank platform FXall surged 45% in 2006, with over $9.8 trillion traded on a single-count basis.
Dollar rally likely to be only temporary
Barclays Capital has continued its strong showing in the rankings since the beginning of the year, coming in top for its 12-month forecasts. It also featured well in the three-month and one-month year-to-date index.
The USD resurgence may only be temporary
Simon Derrick, head of currency strategy at Bank of New York in London, warns that it may be too soon to be revising those dollar forecasts
Bearish USD view rewarded by year-end
Persistence has paid off for 4Cast, which saw its consistently bearish view of the dollar rewarded as 2006 came to a close and the new year began.
Nybot launches peso and real FX futures to support coffee traders
NEW YORK – The New York Board of Trade (Nybot) is preparing to launch futures in the Colombian peso and Brazilian real next month.
Spotradar from Nostradamus predicts good times ahead
LONDON – Nostradamus, a forex predictions company, is looking to sign a raft of new clients for its Spotradar automated trading system in the next few months.
A flying start to 2007 Currency strategies down in 2006
LONDON – Most currency funds are likely to have ended 2006 nursing losses, with trend followers down around 6%, according to research from ABN Amro.