Trading
Banks sign up to Bloomberg NDFs
NEW YORK – HSBC, Lehman Brothers, the Royal Bank of Scotland and Standard Chartered have committed to offering liquidity in non-deliverable forwards (NDFs) over the Bloomberg FX Dealing platform.
Yen view carries RBC Capital Markets
RBC Capital Markets topped this week's three-month forecast rankings as a result of its bearish view on the yen.
BIS confirms continuing importance of carry trade
BASEL – Foreign exchange carry trades continue to be a main driver of global exchange rate movements, according to the Bank for International Settlements’ 2007 annual report, released on June 24.
Australian dollar: a reserve currency
The potential for the Australian dollar as a reserve currency is evaluated by Divyang Shah , chief strategist at Commonwealth Bank of Australia in London
Dresdner driven by greenback
Dresdner Kleinwort’s view on the US dollar led the bank to beat SEB, Calyon and JP Morgan in FX Week’s one-month currency forecast ranking this week.
AXA IM forex fund targets institutional investors
LONDON – AXA Investment Managers (AXA IM) has launched its first active FX fund since creating a new currency management team last July.
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
RBNZ uses Reuters to intervene in spot market
AUCKLAND – The Reserve Bank of New Zealand (RBNZ) used Reuters’ spot matching system on June 11 to intervene in the spot Kiwi market for the first time, market sources say. The RBNZ intervened in the FX market to sell New Zealand dollars on June 11. This…
GBP/JPY currency pair added onto Icap EBS platform
LONDON – Interdealer broker Icap is today (July 2) enabling GBP/JPY trading over spot broking platform EBS.
BIS report notes low volatility
LONDON – FX markets were characterised by high levels of turnover and historically low volatility in 2006, according to the Bank for International Settlements' (BIS) 77th annual report, released today (June 25).
GFI brokers first algorithmic trade of forex option
Interdealer broker GFI brokered the first screen-based algorithmic trade of an FX option through its option trading platform, Forexmatch, last month.
SEB carried by short-term view
A carry-friendly view has helped SEB beat Barclays Capital, JP Morgan and Lehman Brothers in this week's one-month currency forecast rankings.
BNP Paribas boosts sales teams in London and Paris
PARIS & LONDON – BNP Paribas has added to its London-based FX hedge fund sales team, and strengthened its Paris-based FX sales team to cater for central banks and official institutions.
What happens when the state steps in
The effects of state intervention on exchange rate policy are examined by Peter Luxton , London-based global markets adviser at Informa Global Markets
StanChart steers forex operations to Dubai
GLOBAL – It is understood that Charles Brown, head of quantitative development for global financial markets covering rates, FX and capital markets, for Standard Chartered in Singapore, is leaving the bank this month.
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.
Dollar could hit 1.40 against Swissie
The prospects for a stronger dollar are scrutinised by Benedikt Germanier , currency strategist at UBS in Zurich
BIS report highlights trade growth
BASEL – Trading in currency, interest-rate and equity products continues to grow, according to the latest Bank for International Settlements (BIS) quarterly review released last Monday (June 11).
Progress adds algorithmic functionality to Apama
BEDFORD, MASSACHUSETTS – Software vendor Progress Software is today (June 18) launching an FX package that allows FX traders to run algorithms across multiple liquidity sources, accessing best price and market depth.
Weak greenback benefits RBC
Broad US dollar weakness helped RBC Capital Markets top the three-month currency forecast rankings this week.
High volatility sparks surge in FX trading
LONDON & CHICAGO – High volatility at the beginning of the month saw strong FX trading flows transacted across major trading venues.
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
Maybank launch targets retail clients
KUALA LUMPUR – Malaysian bank Maybank last week launched G10FX CG, currency-linked investment products aimed at retail clients.
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