Month: September 2002

CLS’s Joseph De Feo: Living the Dream

We’ve all read the book or seen the film: the central character is there at the start of something important, leaves the scene, cannot stay away, so returns to save the day. There is something of this in the story of Joseph de Feo and CLS, the company of which he is now CEO, although […]

Parker FX Index Up, Emerging Index Down in June

The Parker FX Index again rose steeply in June. Following May’s 5.43% rise, then the largest monthly return since March 1995, the index extended that performance in June, rising to 5.60%. By contrast, the Parker Emerging FX Index broke a string of eight consecutive monthly gains in June, falling 1.02% All 45 programmes in the […]

Things to do in Britain When it’s Dry (Part One: Scotland)

By Charles Olaar The British weather being the fickle beast that it is (and I use the word “beast” deliberately), a holiday in the UK (aside from London) is not the first idea that springs to mind when analysing the options for a week away. In recent years it has been a holiday selected by […]

In Brief

JP Morgan Offers Improved STP JP Morgan Investor Services has created a central repository, Global Market Reference Data (GMRD), to streamline data and enable clients to improve their straight-through processing (STP) rates with improved asset reference data quality. “The successful implementation of GMRD demonstrates our continuing commitment to provide state-of-the-art technology that facilitates [STP] for […]

Real Interest Rate Levels Remain Too High

By Michael Burke, B&M Research A key factor in the unusually weak economic response to Fed easing has been the poor performance of corporate debt and the consequent higher level of real yields. The current easing cycle is one of the most aggressive ever, at least in terms of the degree by which rates have […]

RBA Annual Report Looks at CLS, Exchange Rate Issues

The 2002 annual report from the Reserve Bank of Australia (RBA) discusses preparations for the launch of Continuous Linked Settlement (CLS). One consequence of the launch of CLS, says the central bank, is that it may increase banks’ demand for liquidity. This poses particular problems for Australian banks, it continues, as the period chosen for […]

RBA: Australian Foreign Currency Exposure Minimal

The latest Reserve Bank of Australia (RBA) Quarterly Bulletin looks into foreign currency reserves following a survey on the non-banking sector of Australia’s economy. The RBA says that while “good information” has been available on the banking sector where currency exposures are collated as part of its supervisory role, the equivalent information from other sectors […]

Bank of America Pushes the Franchise

Bank of America (BoA) has continued its global foreign exchange expansion with 14 hires in London, New York, Hong Kong and Tokyo. The bank says that the additions are part of its ongoing strategy to aggresively invest in its global FX business, and follows seven hires made in late April (see Profit & Loss, March, […]

BBH Adds FX to Tokyo Presence

Brown Brothers Harriman (BBH) is to open a forex desk in its Tokyo office. Led by assistant vice president Jun Kitazawa, formerly of Dai-Ichi Kangyo Bank (now Mizuho), the new desk is intended to complement the global custody products and US brokerage that the bank has offered for around 20 years in Japan. “Over the […]

Fulton Joins Altegris Investments

Toby Fulton has joined recently launched alternative investment broker/dealer Altegris Investments as investment research executive. He joins from Ronin Capital Management, a Miami-based macro hedge fund, where his responsibilities included analysing and investing in a range of financial services products. Prior to that, Fulton worked at Sloane Robinson Investment Management, a London-based macro hedge fund. […]