Trading
CLS may affect credit lines
LONDON -- The new settlement service for forex, Continuous Linked Settlement (CLS) could reduce the importance of credit lines in forex, delegates at the inaugural FX Week Congress heard last week.
eB2C relationships prosper
LONDON -- Bank-to-client relationships remain vital despite the march of electronic trading in forex, heard delegates at the inaugural FX Week Congress last week.
China equity reform to boost future FX
BEIJING -- China is set to introduce landmark equity market reforms next month, heralding another step on the road to forex liberalisation.
CURRENCY SPOTLIGHT - Sterling strong for now
Sterling should remain supported by favourable fundamental and structural factors, but it is vulnerable to fluctuations in investor risk appetite, says Prebon Yamane’s Lena Komileva
Cross-products find their feet
LONDON -- Cross-product trading is no longer just a "mantra" chanted by sell-side bankers, said Matt Desselberger, managing director, corporate structured products group at Deutsche Bank in London.
Online FX: a revolution in the making
Corporates and institutions have embraced the idea. Now, the market will judge which platform best serves their needs, says Stephen Smit, managing director, Global Link, Europe
WestAM launches currency hedge fund
LONDON -- WestAM, the e38 billion asset management arm of German bank West LB, has launched a currency and fixed-income hedge fund.
BEST "BANKS SURVEY" 2002 -- DERIVATIVES
Citigroup, Deutsche Bank and UBS Warburg still reign in FX derivatives
Reuters reasserts forex dominance
UK trading technology and information firm Reuters may be having a difficult year, but its forex business is booming, according to FX Week ’s 2002 survey.
Dollar finds its wings
The eurozone’s short-term advantage over the dollar has peaked. Citigroup, winner of FX Week ’s Best Bank in Research & Strategy Award, remains bullish on the US unit, says Robert Sinche, global head of FX research at Citigroup in New York
Top five dealers close ranks
Shrinking market rewards top players in biggest ever forex survey
French push for ECB reform
PARIS -- A French economic think tank has urged European authorities to reform the European Central Bank (ECB) ahead of the enlargement of the European Union and the eurozone.
Aussie funds shun overlay
SYDNEY -- Australian superannuation funds’ use of currency overlay has declined, according to a report made public last week.
Malaysian central banker addresses forex market
KUALA LUMPUR -- The governor of the Central Bank of Malaysia last week told forex dealers the concept of a single Asian currency was unlikely in the immediate future. But, "this does not preclude greater co-operation on exchange rate issues and other…
AIG joins CLS as new shareholder
LONDON -- American International Group (AIG) has become a shareholder of CLS Group Holdings, the holding company for Continuous Linked Settlement (CLS), the firm announced last week.
Asian banks reinvent treasury
KUALA LUMPUR -- Banks in Asia are reinventing their treasury departments to become more customer-centric, with increasingly sophisticated products, heard delegates at the forex industry congress in Kuala Lumpur.
Vendors showcase custom-built solutions
KUALA LUMPUR -- Customised solutions dominated the trade show at the ACI -- The Financial Markets Association’s 22nd Asia Pacific Congress earlier this month.
Congress bites
CME launches online futures tool
Real makes shaky steps to recovery
SAO PAULO -- The Brazilian real has steadied in the aftermath of the recent presidential elections, but Brazil’s debt problems are still threatening the currency.
Reuters adds Singapore dollar trading to D-3000
SINGAPORE -- Information and technology firm Reuters last week launched Singapore dollar forwards trading on its Dealing 3000 platform.
Reuters adds Singapore dollar trading to D-3000
SINGAPORE -- Information and technology firm Reuters last week launched Singapore dollar forwards trading on its Dealing 3000 platform.
Rate cut turns market anti-dollar
NEW YORK -- The US dollar hit three-month lows against several major currencies last week, triggering a welcome return of volatility to the markets after months of range trading.
Overlay demand hits new peak
LONDON -- An anticipated decline in the value of the US dollar is boosting demand for currency overlay, according to FX specialists in London and New York.
That sinking feeling
Policy flexibility and high productivity have supported the dollar, but they aren’t enough to turn the tide of weak growth and negative technical signals, says Francesca Fornasari.