Articles by FX Markets Staff
A licence to deal
Experienced traders and other market professionals agree, the current market conditions and environment are unique - the government effectively having to shore up the balance sheets of some of the best-known and well-established banking institutions by…
Morgan Stanley merges global FX and EM
LONDON, NEW YORK & HONG KONG - Morgan Stanley has provided further details about its new-look global foreign exchange and emerging markets business, which came into effect last Monday (December 1).
Futures look bright for Ice
ATLANTA - The Intercontinental-Exchange (Ice) Millions FX futures contracts have traded at an average daily volume of $350 million since launch a month ago, according to the Atlanta-based exchange.
Parker FX Index posts record results in October
STAMFORD, CT - The Parker FX Index generated its largest monthly gain in October since 2003, returning 2.53%, in a month that saw a continuation of dollar appreciation.
Retail FX: the light at the end of the tunnel?
Retail foreign exchange continues to be a beacon of light for wholesale FX banks, as they push ahead with plans to expand initiatives into next year.
Currency strategy success continues
LONDON - The reversal of fortunes for currency managers continued in November, with all but those employing carry strategies generating positive returns, said the Royal Bank of Scotland (RBS).
Hedge funds outshine banks as API price-makers
LONDON - Banks are mostly price-takers when trading on spot broking system EBS through an application programming interface (API), according to analysis by interdealer broker Icap.
A storm in a teacup
Henrik Gullberg, senior foreign exchange strategist at Deutsche Bank in London, says fears over the Swiss franc's status as a safe-haven currency are exaggerated
China in shock interest rate cut
BEIJING, MUMBAI & BANGKOK - The People's Bank of China shocked markets with an aggressive 108 basis point cut to interest rates last Wednesday (November 26), in its latest move to curb the rapid decline in growth.
Ellis to leave CIBC, Monahan quits Icap
TORONTO & HONG KONG - Craig Ellis, managing director in foreign exchange and money markets, has announced his departure from CIBC World Markets effective December 5. Meanwhile, Mark Monahan, chief executive of Icap’s electronic business in the Asia…
Morgan Stanley's Mettler gets new deputy head
LONDON - Morgan Stanley has promoted Marcin Wiszniewski to a newly created role as deputy head of global foreign exchange and emerging markets (EM), effective December 1.
Crisis benefits BoA, JPM
STAMFORD, CT - Bank of America (BoA) and JP Morgan have tightened their grip on the US corporate banking market in the fallout from the financial crisis in September, according to research by Greenwich Associates.
Shah, Bear depart CBA in London
LONDON - The Commonwealth Bank of Australia (CBA) has seen a reduction in its headcount in London.
India to open rupee/dollar futures to FIIs
MUMBAI - The Reserve Bank of India and the Securities and Exchange Board of India (Sebi) are expected to allow foreign institutional investors (FIIs) to participate in the currency futures market soon, market participants speculate.
One up, three down at Citi
NEW YORK & LONDON - Citi's global head of electronic execution has been made redundant and cuts have been made to the foreign exchange sales team in London, as part of the bank's drive to reduce headcount globally.
FX bonuses expected to drop by 80%
LONDON - Bonuses will plummet by 80% for most foreign exchange staff in London, according to research by Armstrong International, a London-based search firm.
MarketFactory Whisperer closer to launch
LONDON & NEW YORK - MarketFactory's Whisperer product is being beta-tested by a group of clients made up of banks and funds, James Sinclair, chief executive of the financial technology firm in New York, has told FX Week. He expects the first client to go…
DealHub client consolidates trades
LONDON - Options Computer Limited (OCL) has deployed its DealHub internal trade netting tool with an existing client, enabling the bank to reduce more than 100,000 component trades to 1,000 aggregate trades, according to the vendor.
New SocGen platform targets active traders
LONDON - Société Générale is set to launch a new foreign exchange trading platform in January, in a move to increase its presence among institutional clients.
SocGen bolsters London FX team
LONDON - Société Générale has boosted its foreign exchange outfit in London with the addition of two former Lehman Brothers staff.