Trading
InfoReach adds HotspotFXi to TMS
NEW YORK – InfoReach, the financial securities trading technology firm, has teamed up with Hotspot FXi, the online foreign exchange platform, to allow its clients access to its prices.
Dollar strength despite deficit
Investors Bank & Trust topped the one-month ranking thanks to an accurate prediction on the market’s attitude to the US twin deficits (current account and budget) earlier this year, which led it to a stronger dollar forecast (FX Week, March 7).
‘FX markets are unreadable’
Foreign exchange markets are notoriously difficult to predict, so corporates shouldn’t bother, argues Simon Miles (right), currency strategist at Corporate FX. Instead they should focus on deciding how to hedge the risk so they can determine its real…
‘No’ votes lead to record flows
LONDON – The ‘no’ votes on the EU constitutionreferendums last week led to unexpectedvolatility in the currency markets, and the highestvolumes ever seen on some platforms.
Deutsche loses staff across desks
LONDON – Deutsche Bank in London has haemorrhaged five foreign exchange staff from structuring, sales and trading in recent weeks. Jeremy Smart, director of FX structuring, who reported to Rhomiaos Ram, global head of complex risk, has been linked with a…
EBS opens in Korea
SEOUL – EBS , provider of electronic trading and market data solutions, has opened in Korea as an offshore broker for non-South Korean won pairs.
Euro returns to fair value
Stephen Jen, global head of currency research at Morgan Stanley in London, argues that the fall in the euro is more a reflection of the fact that the single unit was overvalued than a reaction to the ‘no’ votes in France and Holland.
Imbalances the major threat
STOCKHOLM – Global imbalances caused by currency intervention are building up and pose a real threat to world economic stability. This was the key message of central bankers at last week’s ACI conference in Stockholm.
Benefiting from yuan revaluation
The Lloyds TSB Financial Markets team suggests how to benefit if the Chinese yuan revalues and Asia follows suit
Calyon gets it on cable
Calyon and HSBC were closest in predicting where sterling would end up for their three-month forecast. They both posted 0.126% divergence for cable in the three-month ranking.
Skandies set to diverge
The Norwegian krone likely to strengthen against the Swedish krona in the short term, according to Emma Lawson, FX associate at Merrill Lynch in London
EBS Prime enters Asia-Pacific region
LONDON – Interbank trading platform EBS has extended the EBS Prime service into the Asia-Pacific region, expanding beyond Europe and the US.
Sybase moves into forex
DUBLIN, CALIFORNIA – Software vendor Sybase is to open its risk analytics platform to FX data. The vendor will now process risk and trade data for high-volume FX data feeds.
FX to the fore at settlements conference
SAN FRANCISCO – Settlements industry body ISITC -IOA is to focus on FX for its summer 2005 conference to be held in San Francisco.
Top stories from 15 years of FX Week AIB losses a 'one-off'
LONDON – The foreign exchange industry is unanimous in its verdict that the disastrous $750 million FX loss announced by AIB last Wednesday was a one-off event.
IDEAglobal showcases Kobra
NEW YORK –Research firm IDEAglobal will be showcasing a new Kobra template for its real-time FX research services on Reuters at the congress.
HKMA limits spec trading
HONG KONG – Authorities clamped down on speculative trading on the Hong Kong dollar last week by introducing a ceiling on the currency at HK$7.75 per US dollar.
Forex site launched by London Capital
LONDON – Spread betting firm London Capital Group is to launch a foreign exchange platform following a management buy-out.
Citic chooses Sophis
HONG KONG – Citic Capital, the international investment banking arm of China International Trust and Investment Corporation (Citic) Group, has selected Risque as its core platform for risk management and proprietary trading for processing in FX,…
GFI launches Fenics dealFX
NEW YORK – GFI Group is to demo Fenics dealFX, a foreign exchange options trading system that it launches this week at the congress.
Stockie weakness despite economic strength
STOCKHOLM – For a currency with such strong economic fundamentals, the Swedish krona has seen surprising weakness this year, as many in the market have discovered to their cost.
Q&A: John Nelson
To mark 15 years of FX Week , we carry a Q&A with our first subscriber, look at three major pairs opposite and run three of the key stories shaping the industry
Reuters showcasing latest additions
STOCKHOLM – Reuters will be exhibiting its expanded electronic trading portfolio, including the impending Reuters trading for foreign exchange, at the congress.
Top stories from 15 years of FX Week Emerging markets' glitter fades
KUALA LUMPUR – Foreign exchange controls imposed on the Malaysian ringgit on Tuesday, September 1, have sparked fears that the shine may have left the emerging currencies market, according to industry sources.