Trading
Hedge funds lose their shine
A trader at a German bank in London said the “mental bubble” traders had when considering the merits of joining a hedge fund has burst.
Focus on rates
With interest rates in the spotlight, Cyril Beuzit, global head of interest rate strategy at BNP Paribas in London, discusses what to expect next
IAS 39 sparks hedging concerns
LONDON – Accounting rule IAS 39 is causing distortions between economic reality and financial reporting, with rules regarding the use of derivatives likely to impede companies.
FX next big thing for algorithmic trading
LONDON – FX is set to be the most actively traded asset class using algorithms, according to an audience at an event on the subject held last week.
European banks up in third quarter
ZURICH, AMSTERDAM & FRANKFURT – European banks have had a strong third quarter in foreign exchange, with many up substantially over the same period last year.
Currency product ‘growth to continue’
LONDON – Demand for currency-linked structured products is set to continue into next year, according to market participants who have already posted strong sales this year.
BNP to target real-money sales in 2006
LONDON – BNP Paribas is to invest heavily in the real-money space early next year, as it looks to gain traction in an area where the bank has so far had limited presence.
Chaos and depreciation as Zimbabweforex trading system introduced
HARARE – The introduction of a more liberal and transparent forex market in Zimbabwe saw a three-fold drop in the value of the country’s currency and suspension of trading.
A strategy for yen appreciation
With faster economic growth, yen appreciation will happen. It is just a matter of timing, says Trevor Williams, chief economist at Lloyds TSB Financial Markets in London
SG CIB to white-label FX portal
LONDON – SG CIB is looking to boost the use of its single-bank portal with a series of white-label arrangements with banks it owns.
EBS hits the pause button
LONDON – EBS has stopped new customers going live on its platforms until early December as it faces a surge in demand for its services.
EBS hits the pause button
LONDON – EBS has stopped new customers going live on its platforms until early December as it faces a surge in demand for its services.
EBS signs second largest Chinese bank
BEIJING – EBS has made further inroads into the Chinese market by signing on China Construction Bank (CCB), the second largest state-owned bank in the country.
Russell signs up with Lava
TACOMA, WASHINGTON – Asset manager Russell Investment Group is pushing ahead with the expansion of its FX trading capabilities by signing on to a second electronic currency network.
Consolidation continues in FX
NEW YORK – A further sign of the consolidation of the foreign exchange industry emerged last week, with a survey revealing that just under half of North America’s spot FX market is held among a handful of dealers.
The benefits of petro-dollar diversification
The latest data suggests that Opec members have not been recycling oil revenues into US assets. This implies that diversification is likely to start soon, putting the dollar under significant pressure, however the timing is still uncertain, says Ian…
Reuters revenues up third successive quarter
LONDON – Global news and information provider Reuters has reported third-quarter revenues of £611 million, up 8% on the £566 million for the same period last year.
Inflation targeting on the way
Royal Bank of Canada’s London-based senior emerging markets strategist, Tania Kotsos (right), looks at the potential impact of Ben Bernanke replacing Alan Greenspan as Fed Governor
Sterling’s glass half full
Rabobank has gone against market sentiment by maintaining an optimistic stance on the sterling, with a belief that the British economy is more resilient than the market thinks.
Vietnam opens its doors to Travelex
HANOI – Forex specialist Travelex has signed a deal with a Vietnamese bank to enable overseas nationals to remit money to relatives at home.
India’s white collar revolution
Sanjeev Sanyal, senior economist at Deutsche Bank in Singapore, points to the educated middle class as being the driver of the economy’s dramatic transformation over the last decade
Reuters opens post-trade service
LONDON – Reuters this week moves into the post-trade market with the launch of Reuters Trade Notification System (RTNS).
Calyon picks rates as dollar driver
Calyon’s good run of form in the one-month and three-month year-to-date rankings has been driven by a view that the dollar’s weakness would not persist. The French bank argued that the US current account deficit would not continue to act as a drag on the…
Measuring US dollar and prospects
Thomas Lam Tai Loong, treasury economist at United Overseas Bank (UOB) in Singapore, outlines a way of predicting dollar movement through measuring growth in the US economy