Volatility
Responding to change
Purnur Schneider and Christopher Cruden at Insch Capital Management in Lugano, Switzerland, use the Black-Litterman model to test strategies designed to work in changing market conditions
Barclays grabs top spot for FX options
The UK bank has risen from fourth to third place in this year's survey, and has also added FX options to its awards tally
EBS volumes hit multi-year low in October
Trading volumes on both EBS and Thomson Reuters fell even further last month, but some traders are expecting a pick-up in volume now that the US elections are over
Hong Kong insurers hedge out their US dollar exposure
Insurers in Hong Kong are revising their long-term policy of not hedging out their US dollar exposures
Barclays upgrades Oasis FX analytics tool
Enhanced version of Oasis includes a new charting, analysis and back-testing tool, known as Atlas
Morgan Stanley adds Ortus and Quaesta to FX Gateway
US bank continues expansion of currency manager platform
Decline in spot volume driven by low volatility and HFT controls
The fall in FX spot volumes revealed in this week’s semi-annual survey data has been driven by low volatility and new controls on HFT behaviour, according to members of the FX JSC
Deutsche’s FX volumes continue to grow, despite tough Q2
Deutsche Bank’s profits fell from €1.4 billion to €661 million during the second quarter, but the bank’s FX revenue recorded only a small year-on-year decline
Electronic broking initiative of the year: Tradition-Icap
Foreign exchange options broker Tradition-Icap wins this new e-FX initiative award in recognition of its daily volatility fixing, which dealers see as a landmark development in the trading of volatility
Carry trade yields 5% annual returns
Carry trades can produce surprisingly high returns, but beware unexpected volatility shocks, write Lukas Menkhoff, Lucio Sarno, Maik Schmeling and Andreas Schrimpf
The quasi-extinction of free-floating exchange rates
Imran Ahmad and David Petitcolin of the emerging markets FX strategy team at Royal Bank of Scotland in London say the quest for growth by emerging and developed market nations has led to the quasi-extinction of free-floating exchange rates
Banks welcome Tradition-Icap’s volatility fix
The daily fix could pave the way to the creation of new volatility-based derivatives, say participants
Hildebrand scandal leaves Swissie expectations broadly unchanged
Swiss National Bank expected to hold EUR/CHF floor following governor's resignation, but an increase from 1.20 might now be delayed
Seeking a better benchmark for currency manager performance
With more mainstream advisers offering access to managed FX investments, bigger and increasingly sophisticated audiences are driving index providers to upgrade benchmarks and make them investable. However, some managers remain unimpressed by the existing…
Private investor demand for FX on the rise, say managers
Volatility in major currency pairs and concerns over the US dollar have led to an up-tick in demand for FX exposure from high-net-worth individuals, according to several currency managers
FX Invest Middle East: Volatility is tough and unsustainable, say managers
Delegates at FX Invest conference in Dubai discuss Japanese intervention, the value of emerging market currencies and their outlook on volatility
Record FX profits driven by volatility and hedging, say Deutsche and UBS
A perfect storm of volatile currency moves, intervention from the SNB and frenetic hedging activity have contributed to unusually high FX revenues and volumes in the third quarter, say Deutsche Bank and UBS
The Canadian dollar: to hedge or not to hedge?
The Canadian dollar weakened significantly against the greenback in the last two weeks of September, moving from parity on September 21 to 1.0461 on September 30. Farah Khalique talks to currency strategists about what’s driving the Canadian dollar’s…
Spotlight on: Mike Harris, Campbell & Company
The director of trading at commodity trading adviser Campbell & Company talks to Miriam Siers about the current trading environment and the challenges in the market for buy-side traders
Options traders sense SNB running out of steam
Options traders are betting on further appreciation of the Swiss franc, following comments from the Swiss economy minister that Switzerland will have to put up with a strong currency
View from a global head of FX
Tim Carrington, global head of FX at Royal Bank of Scotland, talks to Farah Khalique about the exceptionally poor liquidity in FX markets in recent weeks and why he remains bearish on the US dollar but bullish on sterling and the yen
Options traders braced for further SNB intervention
Demand has switched from downside EUR/CHF options to upside options in anticipation of further Swiss franc weakening measures from SNB, say senior options traders
Trading volumes soar in July, report EBS, Reuters and FXall
High volatility in FX markets as a result of eurozone sovereign debt issues and the US debt problems have resulted in record volumes, platforms report
FX Week USA: Niche services rather than volume set to dominate FX
Conference speakers discuss the changing nature of the foreign exchange market, and agree successful providers in future are likely to be those that can offer a range of niche services rather than those with the highest volumes