Month: August 1999

Finigan Named New Chairman of CLS

Deutsche Bank’sJohn Finigan, previously a managing director at Bankers Trust in New York, has been named as the new chairman of CLS Services, the consortium of G20 banks that is developing an FX netting system. Finigan, who recently served as chairman of the New York Fed’s FX Committee, was named as Deutsche’s global head of […]

Commerzbank’s Grew Exits the Markets

Daniel Grew, head of FX sales for Commerzbank in London, has retired from the markets. Grew, who spent the bulk of his career with JP Morgan, joined Commerz in mid-1996.

Cabriolet – No Way !

Gladstone J Gunner Blows the Top off the Myth of the Convertible As a nation, we Brits are obsessed with the weather. We relish the days of summer. The misery of the dark months lift and the smiles return to our faces. As motorists, the opportunity to possess a vehicle with the option to get […]

ACI Gets a ‘Licence-to-Deal’

The modern market professional needs a wide and varied range of skills. Therefore, whether you work in the front or back office, whether you are a trainee, an assistant dealer or have been trading for a number of years, the ACI examinations will be worth acquiring. It will not just be your “licence to deal”; […]

FX Committee Sets its Sights On Y2K Barriers & Force Majeure

Following a tumultuous year in the currency markets, the Foreign Exchange Committee (FXC) is continuing its long-runningefforts to reduce settlement riskand provide information so as to improve the functioning of the FX markets. The FXC is an FX industry body that is sponsored by the Federal Reserve Bank of New York. Currently celebrating its 21st […]

The Euro: A Turbulent Six Months

By Paul Downs, Thomson Global Markets When the euro was launched at the start of this year amidst much self-congratulatory backslapping from politicians within the EU, it was heralded as the new reserve currency, rivalling the dollar. Well, it has to be said that its first six months of life have resulted in a far […]

Strong and Getting Stronger The Medium-Term Outlook For the Yen

By Michael Burke, B&M Research Japanese policy is now completely geared towards reflation via ultra-low interest rates and a stimulative fiscal policy. This reflation is working as can be seen in the rise of the Japanese stock market and the steepening of the JGB yield curve. In time, this reflationary policy will induce a self-sustaining […]

Korea’s Recovery: Too good to be true?

By Kevin Daly, Standard & Poor’s MMS There seems to be no shortage of good news out of South Korea these days. Recent economic data confirms the only V-shaped recovery among the ravaged Asian economies, with 1999 GDP expected to rise well above 6%, after a 5.8% contraction in 1998 and 5% growth in 1997. […]

Bank of America Strengthens European Interest Rate Trading

Bank of America has strengthened its year-old European Interest Rate Trading Group with two new hires from Merrill Lynch in London. The division was established in anticipation of the introduction of the single European currency, and covers debt and derivative products in both European and internatioal mature market currencies, along the entire range of the […]

Caboto Bolsters Milan Options Desk

Caboto Holdings has hired Guy Williams to beef up its currency options desk at its headquarters in Milan. Williams joined the bank in late June from HSBC Midland in London. He reports directly to Francois Semerdjian, Caboto’s FX manager in Milan. Caboto is the investment banking arm of the Italian banking giant Intesa.