Trading
SNB's continuing resolve drives creativity among Swissie traders
A year after the Swiss National Bank imposed a 1.20 floor on EUR/CHF to stem the appreciation of the Swiss franc, the minimum rate remains in place, driving traders to seek new ways to trade a currency afflicted by low volatility. Miriam Siers reports
EBS reversal on decimals brings relief among traders
Just 18 months after EBS moved to decimalised pricing on major currency pairs, senior bank traders have expressed relief that Icap will return to full pips and half pips later this month
SG CIB expands in FX sales with string of hires
Société Générale CIB has made four appointments to its FX sales team in London, while ex-FXall Keith Hill has joined the bank this week to head e-FX
Deutsche creates cross-asset platforms business under Amrolia
Deutsche Bank's Zar Amrolia runs a new business focused on electronic platforms across fixed income, while Kevin Rodgers has stepped up to become global head of FX
EBS ditches decimals as part of platform overhaul
Full-pip and half-pip pricing will return to major currency pairs on EBS from September 17, as platform's new management team recognises flaws in decimalised pricing
All eyes turn towards EBS
EBS is set to unveil the next round of system and policy changes this week, which will be closely scrutinised by newer entrants and competing platforms
The platforms of 2012: Gain GTX
Two-and-a-half years after its launch as a subsidiary of Gain Capital, the GTX platform is gathering steam and now trades average daily volumes of up to $8 billion. In the latest in a series of articles assessing the challenges facing new and existing…
New buy-side platform targets March launch
Start-up venture BuysideFX will focus on improving FX workflow on the buy side and plans to be live with its first client by March 2013, officials have told FX Week
RBC on top with August stagnation forecast
The Canadian bank tops the one-month currency forecast rankings and warns of uncertain forecasting conditions over the next three months
Likelihood of Grexit diminishes ahead of troika review
As European authorities head to Greece to inspect the country's finances, strategists believe it is increasingly unlikely authorities will allow the country to leave the euro
Stressed VAR will hit FX options, dealers warn
Certain forex options and exotics penalised by Basel 2.5, including emerging market currencies and double no-touches
Optim Invest launches as BNP Paribas IP exits currency management
D'Hautefort revives Overlay Asset Management as Optim Invest, says demand for currency management buoyant
RMB is gaining traction with corporates, Deutsche survey finds
Smaller companies can realise savings of nearly 5% when dealing with Chinese businesses by transacting in renminbi, says Deutsche Bank
Trading places, August 27, 2012
New appointments at Nomura, Rule Financial and DTCC, while HSBC loses a salesman
The platforms of 2012: Hotspot FX
Knight Capital, the parent company of Hotspot FX, has endured a torrid month following a software glitch on August 1 that cost it $440 million, but Hotspot appears to have weathered the storm. In the second of a series of articles assessing the…
Spotlight on: Drew Niv, FXCM
FXCM’s co-founder and chief executive talks to Robert Mackenzie Smith about the challenges facing the foreign exchange market in 2012, as well as the company’s new initiatives, including the FastMatch platform and the 50% stake it has acquired in Lucid…
CIBC bets on gradual upward curve for US dollar
A set of forecasts based on the view that the US dollar would remain stagnant before rising later this year lands CIBC at the top of the three-month rankings
FXall continues product innovation under new ownership
Following the completion of its acquisition by Thomson Reuters, FXall will continue to operate independently until the integration is complete
ABN Amro hires Duff to build FX clearing business
Dutch bank hires industry veteran to launch clearing business in North America
CME ready to fight for market share in Europe, says Sammann
CME Group's European exchange, set to begin trading FX futures next year, will offer a competitive alternative to other exchanges, says the group's head of FX and rates
Interdealer brokers pick MarkitServ for FX processing
BGC Partners, GFI Group, Tradition and Tullett Prebon have all chosen middleware provider MarkitServ to facilitate connectivity to CCPs and trade repositories, and voice affirmations
LCH readies launch of new NDF pairs and client clearing
Five months after launch, ForexClear is ready to start offering client clearing and to add five new currencies to the service, pending the approval of the FSA and the CFTC
The platforms of 2012: LMAX Exchange
The launch of new trading platforms and the restructuring of incumbents has become a clear trend in the foreign exchange market in 2012. In the first of a series of articles seeking to assess the strategies and challenges of new and existing platforms,…
Shining a light on high-frequency trading
Forex trading platforms are intent on tackling any negative effects of high-frequency trading, but the speed of the practice makes it tough to manage the risks. Robert Mackenzie Smith reports