Articles by FX Markets Staff
Times getting heavy for metal traders
Gil Bray, head of product and business development at technology vendor Misys in New York, says the base metal OTC community needs to move with the times and reap the benefits technology can offer
CLS on shaky ground with third-party providers
Just as the front office begins to show signs of support for CLS, there's now doubt over commitment from the utility's third-party service providers, with at least one rumoured to be scaling back.
Traders shift focus to recession
LONDON - Traders are reporting a slowdown in foreign exchange activity and a focus shift towards global recession fears as the market approaches year-end.
Unicredit hires two new FX heads
LONDON - Unicredit has bolstered its foreign exchange team in London with the hires of Peter Jerrom and Will Vogel, both from Lehman Brothers.
Retail FX benefits as traders go DIY
LONDON - The retail foreign exchange revolution could benefit from reduced headcounts within the financial services industry, according to Mark Davison, vice-president of pro-sales at Forex Capital Markets (FXCM).
More crisis casualties
LONDON - Morgan Stanley, Citi and Deutsche Bank have all announced thousands of global job cuts in response to the market dislocation, with foreign exchange teams unavoidably in the firing line.
Industry pushes to expand CLS coverage
LONDON - Panellists at the FX Week Europe Congress held in London last week applauded CLS for its role in alleviating settlement risk, but pushed for expansion to cover more counterparties, currencies and products.
Banks plan to up tech spend
LONDON - Fifty percent of banks plan to spend more on technology next year than this year, according to a poll of bank delegates at the FX Week Europe Congress in London last week.
Market risk brings client relationships to the fore
LONDON - Relationship pricing has become key for banks, reflecting the increase in market risk, according to panellists at last week's FX Week Europe Congress in London.
Algos 'point inwards' amid low liquidity
LONDON - There will be greater internalisation of flow as banks search for liquidity, according to a panel discussing algorithmic trading developments at last week's FX Week Europe Congress.
Fisher: FX will slow down to assess risk
LONDON - Activity in the foreign exchange market will "pull back" over the next couple of years, while risk management will become a key focus for the industry, according to Paul Fisher, London-based head of the FX and reserves management division at the…
BNP responds to unwinding carry with two new indexes
LONDON - BNP Paribas has released two indexes that it says will help clients profit from carry trades, even when traditional strategies are unwinding.
Trouble ahead in emerging EMEA
Nick Chamie , head of emerging markets research at RBC Capital Markets in Toronto, analyses the results of the bank's latest Financial Risk Scorecard, and finds there are tough times ahead for the Baltic states
Korean banks share info on FX derivatives
SEOUL - South Korea's markets regulator, in conjunction with the country's leading banking association, has set up a database that allows banks to share information on the use of financial products by their clients, including exporters.
'Veneer of homogeneity' hides cross-asset minefield
LONDON - Cross-asset electronic trading is still underdeveloped, according to Jeremy Smart, global head of electronic foreign exchange sales at Morgan Stanley.
Forex contends with great expectations
The foreign exchange industry is set for a shake-out next year as re-pricing of risk forces change in the make-up of the industry.
Bloomberg Tradebook back on track
NEW YORK - Bloomberg Tradebook is this week re-launching its foreign exchange electronic communications network after suffering up to eight weeks of outage as it sought to replace AIG as its central clearer.
Canadian dollar draws nervous participants
The Royal Bank of Canada and ANZ took top honours in their domestic markets, reflecting the health of the dealers versus global rivals in these currencies.
Icap adds new functionalities to EBS Spot
LONDON & SINGAPORE - Interdealer broker Icap is rolling out new features on its foreign exchange electronic trading platform, EBS Spot, this Saturday (November 22), officials told FX Week .
RBS to cut 3,000 jobs
LONDON & EDINBURGH - The Royal Bank of Scotland (RBS) is set to cut 3,000 jobs from its global banking and markets division (GBM), with a third of them expected to fall in the UK.
Top banks take DealHub analyser
NEW YORK - Two Tier I banks have adopted Option Computers' DealHub Conversation Analyser module for foreign exchange options, to extract FX options and spot hedge ticket details from Reuters Dealing 3000 conversations.
Cable: we've been here before
Peter Luxton, global economic adviser at Informa Global Markets in London, looks at how cable is faring during this economic crisis, and finds it is following a similar pattern to cable during the 1992-93 slump