Currency Derivatives
South Korean forex reaches record high
SEOUL - FX turnover hit a record high in South Korea in the third quarter.
London FX volumes soar
LONDON & NEW YORK – Forex volumes in London have outstripped those of rival trading centres, as the city continues to reap the benefits of emerging market flows and dual time zones, according to figures released last week.
VWD switches FX providers to Tenfore
FRANKFURT – Data vendor VWD Group is to replace FX data provided via its internet- and terminal-based data products with new data sourced from UK-based Tenfore Systems' Tenforex feed, officials said.
ABN Amro beefs up forex in Singapore
SINGAPORE – ABN Amro has shifted more FX staff to Singapore in a further bid to centralise its Asia-Pacific forex business.
Banks sign up to Bloomberg NDFs
NEW YORK – HSBC, Lehman Brothers, the Royal Bank of Scotland and Standard Chartered have committed to offering liquidity in non-deliverable forwards (NDFs) over the Bloomberg FX Dealing platform.
Derivative Fitch launches beta CFXO model
LONDON – Derivative Fitch last Wednesday (June 27) released a beta version of its Vector CFXO model for collateralised foreign exchange obligations, aimed at increasing transparency in the market and the understanding of its ratings.
Collateralised FX obligation market takes off
LONDON – The market for collateral- ised foreign exchange obligations (CFXO) is gaining pace, with Derivative Fitch establishing a ratings methodology for the products.
Deutsche restructures FX operations in Japan
TOKYO – Deutsche Bank has rebuilt its FX operations in Japan with seven hires and two transfers, amid a sweeping reorganisation of the business in the country.
Who's who on the exhibition floor?
FX Week gives a rundown of some of the top exhibitors at this year's event. Find out who's showcasing what, then see the box on the next page for your entertainment listings
Clariden centralises forex pricing data
LONDON – Swiss private bank Clariden Leu has rolled out an FX pricing solution to centralise pricing and distribution of FX rates throughout the organisation.
Bloomberg Tradebook adds forex forwards
NEW YORK & LONDON – Electronic broker Bloomberg Tradebook plans to add FX forwards to its electronic communications network Bloomberg Tradebook FX, in the second quarter.
BoT closes NDF trading loophole
BANGKOK – The Bank of Thailand (BoT) has again intervened in the FX markets, by ordering banks not to trade non-deliverable forwards (NDF) with foreign counterparties.
China bans pricing in offshore NDF market
BEIJING – Chinese officials last week banned local banks from quoting prices in the offshore non-deliverable forwards (NDF) market in an effort to boost trading onshore, said analysts.
China bans pricing in offshore NDF market
BEIJING – Chinese officials last week banned local banks from quoting prices in the offshore non-deliverable forwards (NDF) market in an effort to boost trading onshore, said analysts.
Managing exposure to forex volatility
Manuel Deijk in the structured FX team at UBS looks at a selection of quantitative methods applied in the implementation of FX risk management policies
Pension funds should increase FX exposure – Deutsche Bank
LONDON – Pension funds should substantially increase their exposure to forex in order to increase returns and decrease volatility of returns, according to research from Deutsche Bank released last week.
Forex trading on the rise again
GLOBAL – It has been another bumper six months for forex, according to figures published from the various global FX committees.
HSBC realigns FX in US
NEW YORK – HSBC has re-aligned forex management in New York amid broader changes for its US operations.
EBS set to take NDF trading online
LONDON – Non-deliverable forwards are set to be traded electronically with EBS. The platform is in discussion with banks about making them available on the platform.
Bloomberg continues FX boost
NEW YORK – Bloomberg is continuing to build up its forex capabilities with a new information product called FXIP (foreign exchange information platform).
Bloomberg continues FX boost
NEW YORK – Bloomberg is continuing to build up its forex capabilities with a new information product called FXIP (foreign exchange information platform).
HSBC names Brown global FX chief
GLOBAL – HSBC has undergone a major reorganisation in FX, resulting in a newly created global head of FX role.
Hong Kong set for retail yuan NDF contracts
HONG KONG – Authorities in the Special Administrative Region are to follow China's lead in making renminbi non-deliverable forwards (RMB NDFs) available for trading next month.
Interactive to switch FX feed
BEDFORD, MASSACHUSETTS – Data vendor Interactive Data is to switch off an old forex data feed from its ComStock division and replace it with a new one from another part of ComStock, GTIS.