Articles by FX Markets Staff
Lehman's fall leads to liquidity drought
GLOBAL - Heightened concerns over counterparty credit risk caused a dry-up of liquidity in the currency markets last week, as dealers feared a domino effect from the collapse of Lehman Brothers on Sunday, September 14.
Credit Suisse changes its spots
ZURICH - Credit Suisse has embarked on a second reorganisation of its spot foreign exchange risk management and trading teams in Zurich, in an effort to capitalise on burgeoning opportunities across electronic commerce and third-party business.
Natixis in Bear Stearns forex hiring spree
NEW YORK - Natixis has hired 17 foreign exchange staff from defunct US investment bank Bear Stearns to kick-start the expansion of its FX platform.
Trading US inflation
Irene Aldridge, quantitative portfolio manager and managing partner at model-based trading company Able Alpha Trading in New York, outlines a high-frequency strategy to trade US inflation data
BoA's Mandell joins RBS
NEW YORK - The Royal Bank of Scotland (RBS) has hired Bank of America's former head of sales for global rates, currencies and commodities (GRCC) and head of foreign exchange to spearhead the growth of its FX franchise in the Americas.
Uncomfortable truths
Teis Knuthsen, head of FX research at Danske Bank in Copenhagen, looks at the structural changes shaping political and economic realities in our time
SocGen shakes up investment
NEW YORK - Société Générale Corporate and Investment Banking has named Liz Hogan and Jerome Jacques New York-based co-heads of fixed income, currencies and commodities (FICC) for the Americas.
Swedbank takes Siena for rates
LONDON - Swedbank has licensed Eurobase's Siena Rate Manager product to control and publish foreign exchange and money market tradable prices for distribution to multiple execution channels, including FXall.
UBS rejigs sales and relocates forex head
LONDON - Swiss dealer UBS has reorganised its London-based foreign exchange salesforce and relocated its head to Zurich, market sources tell FX Week .
What the Reauthorisation Act means for retail FX
Felix Shipkevich, general counsel at online FX trading company CMS Forex in New York, provides an overview of the US regulatory environment for retail FX brokers
Barings launches new currency fund
LONDON - Baring Asset Management is set to launch a currency fund that will offer an alternative source of alpha and diversification to target institutional investors and funds of hedge funds.
Banks scale back options market-making
GLOBAL - Risk aversion and a sharp rise in foreign exchange options volatility is prompting banks to scale back their market-making activities in foreign exchange options, say traders.
Retail FX broker suspended in Dubai
DUBAI - The Dubai Financial Services Authority (DFSA) imposed its first-ever sanctions against a foreign exchange broker last week, sending a warning to online brokers to maintain standards when operating retail FX businesses in the city.
CME breaks euro and ruble records
CHICAGO & LONDON - CME Group has smashed its previous record for daily electronic trading contract volumes in the euro and the Russian ruble.
Interdealer brokers' merger talks over
LONDON & NEW YORK - Stock prices of interdealer brokers Tullett Prebon and GFI Group plummeted on September 9, as a failure "to reach acceptable economic terms" halted ongoing merger talks.
FXCM chooses NetLink for ticket netting
NEW YORK - FXCM has gone live with post-trade technology vendor Traiana's NetLink, to provide a retail ticket netting solution for its liquidity providers and prime brokers.
The post-trade value chain
Nick Dyne, head of business development at post-trade technology vendor Logicscope in London, evaluates the prospect of a 'virtual' back office
UBS: an FX beacon in a sea of doubt
UBS practically swept the leader board in the currency category of FX Week sister publication Risk 's 2008 interdealer survey released last week.
China still a global draw
SHANGHAI - China continues to be an area of growth for global banks, despite widespread cuts elsewhere, with Goldman Sachs, Deutsche Bank and Standard Chartered all making key hires in that market.
GTS Pro broadens range
LONDON - City Index will extend the list of tradable products on recently acquired retail foreign exchange trading platform GTS Pro for non-US customers in October, a senior official has told FX Week .
WSS gets $105m
NEW YORK - Wall Street Systems plans to use part of the funds from its secured credit facility from Wells Fargo Foothill to support foreign exchange trade processing business initiatives in 2009, according to senior official at the company.
Proprietary traders leave banks in search of 'hard cash'
LONDON - Foreign exchange and rates traders make up the majority of those looking to leave proprietary trading roles at banks, said Grant Ashton, managing director of London-based proprietary trading firm Infinity Capital Markets.