Nikki Shah is believed to have left the industry
Gareth Berry, FX strategist at UBS in Singapore, looks at the impact of the Dubai’s request for a debt standstill
The question of counterparty risk is leading to some significant changes in the foreign exchange business, chiefly in introducing innovative ways to manage this risk.
REYKJAVIK - Iceland re-floated its currency last week but existing capital controls continue to drive away interest in króna trading.
LONDON - Cross-asset electronic trading is still underdeveloped, according to Jeremy Smart, global head of electronic foreign exchange sales at Morgan Stanley.
GLOBAL - Issuance of currency-linked exchange-traded products (ETPs) has soared in the past year, but concerns are emerging over the counterparty risks inherent in these products.
LONDON - RBS launched FX Radar Index, an automated index linked to 20 emerging market currencies, on October 1.
SINGAPORE - National Australia Bank's investment bank, nabCapital, has hired Peter Zeitsch as a director to build a structured products business in Singapore.
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.
BOSTON & NEW YORK - US dealers posted record second-quarter revenues from foreign exchange business, as volatility remained high over the period.
LONDON & NEW YORK - Central bank activity has contributed towards a surge in trading overnight index swaps (OIS) over the past year, according to dealers.
David Popplewell, director of currency structuring at RBS in London, says to look beyond carry baskets and actively managed foreign exchange allocation to generate alpha from FX
LONDON - Bank of America (BoA) is hitting back after making severe cuts to its foreign exchange team in January by boosting its sales and trading franchise in London with two senior hires.
The application of credit technology to diverse underlyings led to the birth of collateralised foreign exchange obligations in 2006. But despite being built from uncorrelated underlyings, their fortunes have proven highly correlated with the wider market....
BOSTON & NEW YORK - Record foreign exchange revenues have proved no match for the credit crisis, with billion-dollar writedowns causing two major banks to report big first-quarter losses in their fixed-income divisions this week.
NEW YORK - US commercial banks recorded $5.5 billion in trading revenues in 2007, down $13.3 billion from the record of $18.8 billion set in 2006, according to a report published by the Office of the Comptroller of the Currency last week (April 2).
Nikki Marmery reports on the proliferation of carry trade indexes and outlines the key differences between the main banks' offerings
By Pete Luxton, global markets adviser, and Dave Willmer, foreign exchange options market strategist, at Informa Global Markets in London
As the market gears up for a fresh year of activity, Patrick Lefler, FX consultant at Wall Street Systems, predicts the key FX market developments in 2008
BOSTON & NEW YORK - State Street's acquisition of Currenex led the US bank to a strong 2007 fourth-quarter performance, despite the year's subprime woes.