Articles by FX Markets Staff
Parker FX bounces back
STAMFORD, CT - The Parker FX Index regained lost ground by clocking a 0.24% return during September, as investors' avoidance of emerging market currencies and US banks' hoarding of liquidity caused a continued US dollar appreciation.
'Instividual' investors switch on to FX
One area of the foreign exchange market that appears to be continuing on a healthy growth trajectory is retail FX trading, according to research released last week.
Value managers come up trumps in October
LONDON - Currency managers using the value strategy are likely to have fared well in October, a month described as one of the most volatile in history, according to research by the Royal Bank of Scotland.
PwC Audit signs up to SuperD
LONDON - PricewaterhouseCoopers (PwC) Audit has selected SuperDerivatives as its derivatives revaluation service provider.
StatPro chooses GFI for options data
LONDON - StatPro, a London-based vendor of analytics and data systems for the asset management industry, has signed a contract to use GFI's foreign exchange options data in its pricing and risk management services.
Forwards spreads start to tighten
LONDON & NEW YORK - Dealers are reporting a retreat in forwards spreads, reflecting marginal improvements in liquidity as Libor eases after weeks of government and central bank action.
E-broking FX volumes soar
LONDON - Interdealer brokers continued to be the biggest winners in the latest round of market turbulence, with Icap and BGC reporting an increase in volumes from foreign exchange businesses.
South Korea hits back at foreign media
SEOUL - The South Korean government hit back at foreign media last Wednesday (October 29), claiming Korea is better positioned to withstand the global economic crisis now than it was during the 1997 Asian crisis.
RBS sells e5m note linked to new FX Radar
LONDON - Royal Bank of Scotland (RBS) has sold its first structured product linked to the new FX Radar Index, an automated index linked to 20 emerging market currencies.
Strong FX fails to lift CME in Q3
CHICAGO - The Chicago Mercantile Exchange (CME) posted record volumes in foreign exchange products in Q3 but suffered a $28 million loss associated with FXMarketSpace, its joint-venture platform with Thomson Reuters.
Citi's Sherrard relocates to Asia
LONDON & SINGAPORE - Rodney Sherrard, a foreign exchange options trader for Citi in London, is transferring to the bank's Singapore office to work in correlation trading.
UBS chops 13 in forex
ZURICH - Stephane Treny, global head of foreign exchange corporate sales for UBS, was one of 13 redundancies from the FX team at the Swiss bank's Zurich office last Tuesday (October 28).
StanChart revamps e-pricing
SINGAPORE - Standard Chartered has gone live with a liquidity aggregator developed for its foreign exchange electronic pricing and trading division in Singapore.
Nomura reports poor H2 results
TOKYO - Nomura's global markets division suffered pre-tax losses of ¥148.3 billion in the bank's half-year results, released last week (October 28).
Investors shun FX-only funds
LONDON - Fund managers are abandoning foreign exchange-only funds in favour of currency overlay programmes, according to research by London-based client strategy firm ClientKnowledge.
Risk aversion hinders EBU
LONDON - Risk aversion in the financial markets has led to a drop-off in demand for Barclays Capital's synthetic European currency, the European Borrowing Unit (EBU), launched last year.
The need for speed
Irene Aldridge, quantitative portfolio manager and managing partner at Able Alpha Trading in New York, looks at what defines a good high-frequency system
FX chiefs made partners at Goldman Sachs
LONDON - Kevin Connors and Paddy Boyle, London-based members of Goldman Sachs' foreign exchange division, were made partners in the biennial induction of new members to the partnership pool last Wednesday (October 29).
MF Global gets new CEO as Davis quits
NEW YORK - Kevin Davis resigned as chief executive of MF Global on October 29 and has been replaced by Bernard Dan, after a turbulent few months for the institutional broker.
Harsh climate suits Aus FX
SYDNEY - Australian foreign exchange dealers expect to continue benefiting from increased deleveraging and client hedging activities seen since September.