Trading
BarCap builds in Asia
SINGAPORE – Barclays Capital (BarCap) has continued its aggressive approach in Asia with the creation of a new head of trading role in Tokyo and four new appointments in Tokyo and Singapore.
Rouble convertible by July – Putin
MOSCOW – Russian president Vladimir Putin wants to make the Russian rouble a convertible currency by July 1 this year, he said last week.
Launches maintain rapid rate of change
The forex market is going through rapid evolution, with banks trying to engineer a market that better suits their needs.
Diversifying through Africa
African basket options are a good vehicle for picking up yield and diversifying away risk, says Marios Maratheftis , FX strategist at Standard Charterd Bank in London
Retail rollout for major banks
GLOBAL – A number of banks are launching retail FX offerings this year as they see growing opportunities for attracting flow from this market.
April strong for forex
NEW YORK – April was a positive month for FX trading, with platforms EBS and FXall both breaking respective trading volumes.
Danske downgrades dollar expectations
Danske Bank has made a substantial revision to its EUR/USD forecasts, expecting it to reach levels close to 1.28–1.30 during the summer, driven by a Fed pause and increased anxiety about global imbalances.
Differing approaches from the biggest players
Where you base your business is in some ways just as important as how it is run. Deutsche Bank's decision to move back into Tokyo this week with a full sales and trading operation shows that it has faith in the Japanese economy's ability to deliver…
Cliquet options for the longer view
Cliquet options embedded in a zero coupon structured product can be used to take advantage of a medium- to long-term view, suggests Jeffrey Todd Lins, director, quantitative analysis at Saxo Bank in Copenhagen
BNY signs Fundtech deal for corporates
NEW YORK – The Bank of New York (BNY) and vendor Fundtech have signed a deal enabling mid-sized banks to easily and affordably provide FX services to corporate clients.
Systematic and technical managers gain in March
The best- and worst-performing managers in March were systematic, while technical managers occupied the lower and middle ground
RBC creates dual senior role
TORONTO & LONDON – Canadian bank RBC Capital Markets, has restructured its FX operations, implementing a new management hierarchy to reflect a more global focus.
Currenex takes algo plunge
NEW YORK – Currenex is moving into algorithmic trading with the launch of CX SmartOrder, a platform that enables customers to use a number of standard models or to create their own.
Reuters and CME to set up FXMarketSpace
LONDON & CHICAGO – Industry heavyweights Reuters and the Chicago Mercantile Exchange (CME) have confirmed plans to establish a centrally-cleared FX market-place for early next year, as reported by FX Week (May 1).
Where have all the petrodollars gone?
Jeffrey Young, managing director, head of currency research, and Eric Darwell, vice-president, currency strategist VP at Citibank in New York, analyse where 'petrodollars' are going and the ramifications for the greenback
Deutsche Bank reorg sees return to Tokyo
GLOBAL – Deutsche Bank is to open a trading desk in Tokyo as it reorganises senior foreign exchange man agement across three continents.
Reuters and CME to set up FXMarketSpace
LONDON & CHICAGO – Industry heavyweights Reuters and the Chicago Mercantile Exchange (CME) have confirmed plans to establish a centrally-cleared FX market-place for early next year, as reported by FX Week (May 1).
Eurobase launches four electronic trading modules
LONDON – Vendor Eurobase Banking Solutions has launched four e-trading modules aimed at providing banks with tools to maximise revenue generation across FX and other asset classes.
Hedge funds down, but retail FX soars
GREENWICH, CONNECTICUT – Hedge fund FX trading has slowed down, while FX retail trading has taken up the slack, according to research from Greenwich Associates.
Interbank market is the one to watch
The move by Lava to get into the interdealer broker space is a bold one that could pay handsome dividends for the Citigroup-owned business.
BoA poaches pair from Morgan Stanley
LONDON – Bank of America is expanding its rates capabilities with two senior hires from Morgan Stanley in London.
Lehman hires new FX head
NEW YORK & LONDON – The turnover at Lehman Brothers continues with two senior appointments in London and New York.
Dollar entering a defensive phase
Informa Global Markets remains top of the 12-month rankings, following accurate predictions in EUR/USD and GBP/USD. Informa correctly forecasted 1.23 and 1.76 against means of 1.30 and 1.83 respectively.
Reuters adds ISK
Reykjavik – Global information provider Reuters has launched the Icelandic krona on its Dealing 3000 spot FX matching service.