Trading
EBS Spot debuts fixing orders
LONDON - EBS will add fixing orders to the drop-down menu in its quote panel for banks only at the end of August, Rob Parr, senior sales manager for Europe, the Middle East and Africa and North America at Icap has told FX Week.
Yield strategy delivers in July
LONDON - Currency managers using the yield strategy were the best performers in July, benefiting from improving European economic data and positive banking stress tests, shows research from Royal Bank of Scotland (RBS).
Wade's in at Deutsche Bank
NEW YORK - Deutsche Bank has boosted its electronic foreign exchange sales effort to corporate clients with a key hire from Citi.
Global forex growth on the up
GLOBAL - Global foreign exchange growth increased this year from October 2009, as investor confidence in the FX market has returned following the global financial crisis, despite concerns over the eurozone.
EBS chases competition with decimalisation launch
NEW YORK - EBS's plans to offer decimalisation at the end of August could lead to a fall in market liquidity, caution traders.
Regulatory uncertainty hits US banks’ Q2 results
NEW YORK - Most US banks reported a slump in forex revenues in the second quarter this year versus last year, citing a drop in risk appetite and liquidity amid concerns over regulatory changes and the European debt crisis.
CitiFX Pro to launch in Singapore
SINGAPORE & LONDON - CitiFX Pro, Citi’s margin foreign exchange trading platform, will launch in Singapore soon, targeting small institutional clients, said Kevin Wilson, director of margin FX trading for Citi's institutional clients group in New York.
RBC: Low Fed rates boost yen
RBC Capital Markets (RBC) topped the three-month currency forecast rankings this week with a focus on euro crosses against the yen and Swiss franc.
Enforce clearing, catapult FX into the big league, say FX Week USA panellists
NEW YORK - Counterparty risk is preventing FX from becoming a major asset class and must be addressed, according to panellists discussing the future of the FX industry at the FX Week USA congress in New York last Tuesday (July 13).
Power to the high-frequency traders
Speakers at the FX Week USA congress held in New York last Tuesday (July 13) were resoundingly supportive of the role high-frequency traders (HFT) have had in ensuring liquidity in the market.
Hervé Ferhani: EM countries in capital controls dilemma
NEW YORK - Emerging market (EM) countries that enforce capital controls will trigger a domino effect across neighbouring countries, according to Hervé Jacques Ferhani, deputy director of monetary and capital markets at the International Monetary Fund in…
ParkerFX makes small gain in May
STAMFORD, CT - The Parker FX Index has reported a return of 0.14% for May, as currency markets were marked by risk aversion amid fears of a double-dip recession, increased risk contagion from the European sovereign debt crisis and significant declines in…
StreamBase Partners with MarketFactory
NEW YORK - StreamBase has partnered with algorithmic FX trading applications vendor MarketFactory to enable hedge funds, banks and proprietary trading firms to speed their ‘time to first trade’ in the spot foreign exchange market.
Spot activity levels up year-on-year in June
LONDON - Electronic brokers reported a marginal rise in trading activity in June versus the same period last year.
GFT: US dollar set for a fall
GFT topped the one-month currency forecast rankings this week with expectations for the European debt crisis to supersede US fiscal shortcomings as a driver of US dollar moves.
BarCap loses two in vanilla options
LONDON – Barclays Capital (BarCap) has lost two from its vanilla options team in London, the UK bank confirmed.
Capital controls look likely in EM economies
The financial crisis causes a rethink of free capital flows and their impact on emerging market nations
BIS highlights risks of resurgent carry trade
Rate differentials make carry trades attractive, but this could cause trouble
In Brief, July 5, 2010
Read this week's In Brief to stock up on the latest technology news around the FX world.
Asia lukewarm to renminbi despite dollar-depeg
Importers and exporters that trade with onshore Chinese companies are having second thoughts about using the renminbi to settle their trades in place of the US dollar.
Morgan Stanley looks to extend Matrix
LONDON - Morgan Stanley is set to launch streaming Asian and Latin American non-deliverable forwards (NDFs) next month, on its cross-asset front end, Matrix, following its recent global launch.
BNP Paribas boosts Asia electronic trading capability
TOKYO - BNP Paribas plans to launch electronic trading in won and Taiwan dollar non-deliverable forwards (NDFs) on its single-bank system, FX eTrader, this year, according to a senior official in Tokyo.
SGX signs 14 banks for derivatives clearing
SINGAPORE - The Singapore Exchange (SGX-DC) has signed up 14 banks and three financial institutions for its Asian forex forwards and interest rates swaps clearing initiative, due for launch in the fourth quarter.
StanChart kick-starts Brazil push
SAO PAOLO - Standard Chartered (StanChart) has established a rates and FX trading desk in Sao Paolo, after receiving regulatory approval to launch trading operations in Brazil in April.