Month: November 2000

FDI Flows & the EM Currencies

  By Michael Burke, B&M Research Foreign Direct Investment (FDI) has become a significant focus for the FX market, particularly as a factor in the US dollar’s surge. But FDI is increasingly important for the world economy, with total flows equivalent to 14% of world GDP in 1999, compared to just 2% 20 years ago. […]

Atriax ‘ World’s Worst Kept Secret Revealed

The “worst-kept secret in the world”, the long-awaited announcement of Atriax, the online FX marketplace formed by 50 banks including four major shareholders ‘ Citibank, Chase Manhattan Bank, Deutsche Bank and Reuters ‘ finally hit the markets on 24 October after five months of speculation. Much as the bank-led EBS Partnership has transformed the interbank […]

MFA Elects New Board Members

The Managed Funds Association (MFA) has elected Kenneth Grant, Jeffrey Izenman, Jean-Louis Juchault and Jeffrey Rothman to its Board of Directors, says John Gaine, president. Each began their two-year terms on 1 October. Additionally, Jeffrey Chandor, Bruce Cleland, Sandra D’Italia and David Kozak have been re-elected for another two years. Grant is an MD, risk […]

August Gains for Currency Managers

Currency managers posted another small gain in August, according to the Parker FX Index, which is up 0.07%. Meanwhile, FX managers who invest in emerging markets are up 1.85% for the month, according to the Parker Emerging FX Index. All 41 programmes in the FX Index reported August results, with 15 posting positive results and […]

FXCM in Move to Access FX Corporate Services Market

Forex Capital Markets (FXCM), an online FX trading service, is shortly due to release several products aimed at the corporate FX market, including an online platform for physical delivery of currency. The margin-based physical delivery service is targeted at small and mid-size corporations. The physical delivery system will be margin rather than credit based, so […]

Fidelity Capital Selects FNX’s Sierra System

Fidelity Capital Markets, a subsidiary of Fidelity Investments, has licensed FNX’s Sierra System for its FX cash and FX options trading operations. Sierra System will provide the information infrastructure and central data repository for all transaction processing, trading, credit limit, and risk management activity for the FX cash and options businesses within Fidelity Capital Markets. […]

Volbroker Extends Service to 24 Banks in Asia

Volbroker, the online FX options trading platform, has completed the second phase of its rollout with the addition of 24 banks in Asia. The first phase included 30 trading desks across Europe. CEO Dirk Ward says, “The system has received tremendous feedback from users. We’re being told that Volbroker is fast becoming the benchmark for […]

Citi Moves to Canary Wharf

Citibank London’s 160-strong FX group moved into its new trading room at 33 Canada Square in Canary Wharf over the October 28-29 weekend. The forex dealers were the last group to move into the 500-position dealing room.

Cognotec Names Selfslagh To Head Product Management

Cognotec has hired Colette Selfslagh as director of product management in London. She joins from Citibank Worldwide Securities, where she set up the bank’s European product management function for Citi’s wholesale custody services. She was most recently responsible for global strategy, marketing and business momentum. Prior to Citi, Selfslagh spent 14 years with Chase Manhattan […]

DerivaTech Appoints Saund as Sales Director

DerivaTech, a specialist provider of advanced currency derivatives pricing, analytics and risk management applications, has appointed Daljit Saund as sales director. Saund, who brings more than 15 years of experience within the capital markets software sector, will be responsible for expanding DerivaTech’s European business, with a focus on the company’s e-commerce related advances in FX […]