Month: March 2003

Managed Futures Lead CSFB/Tremont Hedge

The CSFB/Tremont Hedge Fund Index rose 1.07% in December, bringing total gains for 2002 to 3.04%. Of the nine strategies covered by the index, Managed Futures achieved a 5.50% return for December, making its total return for the year 18.33%. This was the second best year for the Managed Futures Index, after 1998. Dedicated Short […]

CME Volume Up in January

Trading volume on the Chicago Mercantile Exchange (CME) was 45.5 million contracts in January, a 2.7% rise compared to year-ago levels, making it the busiest January in CME history. Trading on Globex, the exchange’s electronic trading platform, rose 116% year-on-year to 21.3 million contracts. Average daily volume on the exchange totalled 2.17 million contracts, compared […]

DKW’s Piranha FX Adds Gold Spot Trading

Dresdner Kleinwort Wasserstein (DKW) has expanded the capabilities of Piranha FX, its online trading platform, to include spot trading for non-physical gold. The addition enables customers to trade gold spot against Usd, Eur and Aud during New York, London and Sydney market hours. “The gold price has risen sharply over recent months and is firmly […]

UK Economic Divergence Widens

By Michael Burke, partner, Magi Capital Partners The divergence between the two halves of the UK economy continues to become ever more extreme, and is placing increasing strain on the economy, financial markets and on policymaking tools. The latest rate cut exacerbates that divergence. In the preliminary Q4 GDP data, the ONS estimates that the […]

Click and Trade – the Myth JP Morgan Sponsored Statement

Ever since the inception of FX e-trading, banks have been claiming to provide click and deal systems, where the price streamed to the customer can be traded on by a single click. Unfortunately, these systems have generally not truly delivered. Instead they use a system-generated Request For Quote (RFQ) to simulate the Tradable experience. Hitting […]

EM Debt is Alive and Well Despite Serial Crises and Defaults

By Arnab Das, Dresdner Kleinwort Wasserstein, London Are emerging market countries doomed to suffer crisis, regardless of whether they pursue globalisation and market-oriented, neo-liberal policies (as many key emerging market countries have done since the Soviet era drew to a close), or whether they avoid it (as most major developing countries did during the Cold […]

Parker Indices Perform Well in December

The Parker FX Index broke a series of declines in December, rising 3.87% on the month. The Parker Emerging FX Index also rose, for the third month in succession, by 1.47%. All 48 programmes in the FX index reported results in December, 83% of them positive. For 2002 as a whole, the index rose 7.99%. […]

Westpac’s Ian MacGougan: A Determined Man

Westpac’s global head of foreign exchange, Ian MacGougan, has had an interesting year and a half, although when you speak to him he prefers to borrow from Queen Elizabeth II and refer to it as his annus horibilis. Over the past 18 months, Westpac FX has undergone big changes, not least of which was an […]

CLS Breaks the Trillion Dollar Mark

A little more than five months since its launch, Continuous Linked Settlement (CLS) has hit a landmark by settling over $1 trillion in a single day on February 18. CLS Bank handled 117,000 transactions on the day, according to the company, although it should be noted that this was an unusually high level because of […]

Gleizer Joins Deutsche Brazil

Daniel Gleizer has joined Deutsche Bank as managing director and head of global markets Brazil. Based in Sao Paulo, he will report to Ariel Sigal, managing director and head of global markets Latin America and Roger Karam, chief executive officer of Deutsche Bank Brazil. Gleizer joins Deutsche after what is described as a long career […]