Trading
FX Week Forum: Central banks and FX reserves
In the latest in the FX Week Forum series, Joel Clark talks to Steven Saywell, global head of FX strategy at BNP Paribas, about trends in central bank reserve management and the IMF's latest set of reserves data
Reserve managers seek alternatives to USD and EUR
Following the IMF’s publication of its FX reserves data for the second quarter, Steven Saywell assesses why reserve growth has slowed and central banks are looking to diversify
Future of agency FX depends on size, says Chapdelaine chief
Douglas Borthwick, FX manager at Tullett Prebon's Chapdelaine agency desk, believes recent regulatory challenges show that size will be the key factor for agency intermediaries
New chief executive brings multi-asset focus to ECU
ECU Group offers clients access to its high-powered investment committee as it moves into the global macro advisory space
Swiss regulator investigates FX rate manipulation
Switzerland's Finma this morning announced it is investigating manipulation of exchange rates, while UBS is reported to have dismissed its spot-trading heads
Lack of Esma clarity delays progress on FX trade reporting
Questions raised by Isda concerning trade reporting workflows have not yet been answered, delaying preparations for the start of mandatory trade reporting early next year
US government shutdown impacts on dollar expectations
The timetable for tapering of quantitative easing and the performance of the US dollar could both be impacted if the shutdown continues, say strategists
UBS aims for full FX launch on Neo in Q1
Following the recent launch of the UBS Neo cross-asset platform, FX e-trading head Chris Purves talks to Miriam Siers about the bank’s electronic strategy, both on its own platform and other venues
FX Concepts teeters as clients exit and AUM plummets
Assets under management at FX Concepts have continued to fall and the fund's chief strategist confirms the board's ideas haven't worked so far
Citi to donate a dollar per million of platform volume to charity
E for Education initiative will see a proportion of revenue from Velocity in the fourth quarter handed over to six charities globally
Deconstructing the Sef ‘car crash'
With days to go until approved swap execution facilities are set to open for business, the CFTC would do well to heed some of the warnings it is hearing from the industry
Political risk biggest challenge for Mena investors
Unable to predict the outcome of current turmoil in Syria and Egypt, investors have mixed outlooks for the Mena region over the coming months
Oanda acquires Currensee copy trading platform
FX copy trading platform will strengthen Oanda's product offering
High-frequency firm AienTech shuts up shop
Technology-focused hedge fund made its mark in FX as a top provider of volume to bank platforms
CLS same-day settlement 'positive' for CAD market, says FX committee chair
Canadian FX committee chair Donna Howard welcomes launch of same-day settlement through CLS for USD/CAD, but acknowledges associated challenges
CFDs gain reprieve from CVA threat
The reports of CFDs’ demise were greatly exaggerated, writes Michael Watt. Far from being killed off by the CVA charge, they have probably been saved by one of the clauses in the new rule
FX structurers take advantage of high-cost hedging in other asset classes
FX structurers are trying to tempt clients away from high-cost asset classes such as rates and credit by replicating the hedges on offer there through proxy instruments, but will buy-side participants trust the correlations to hold up when the worst…
State Street's Collin Crownover talks to FX Invest
State Street Global Advisors’ head of currency management talks to Michael Watt about his view of 2013 so far, the future of central bank involvement in the direction of major global currencies, and the impact of new regulation on the FX market
Volcker rule curtailing FX liquidity, say buy-side participants.
Investors say foreign exchange market-makers are already trimming risk appetite ahead of the Volcker rule ban on proprietary trading in the US. But, while liquidity in emerging market and frontier currencies has suffered, other market participants…
FXCM buys majority stake in Faros Trading
FXCM continues its aggressive expansion as it acquires a 50.1% stake in FX agency firm Faros Trading, four years after it was established by Ray Kamrath
Aviva chooses collared options to hedge balance sheet
Tom Moore, head of group treasury management at Aviva, talks about the challenges of managing currency risk while meeting capital requirements, and outlines the firm's hedging strategies
Dovish FOMC risks losing market trust
Federal Reserve's communication over tapering adds to market's growing mistrust of central bank information
Citadel pushes fixed-income expansion into FX
Fixed-income business heads Derek Kaufman and Richard Mazzella explain their strategy in expanding Citadel's growing fixed-income business into foreign exchange. Robert Mackenzie Smith reports