Month: April 2003

Currency Managers Start 2003 on a Positive Note

Currency managers in both the Parker FX Index and the Parker Emerging FX Index started 2003 on a positive note, with the former index rising 2.45% in January and the latter producing a 0.80% rise. All 49 programmes in the FX Index reported results, 73% of them positive. The performance range for the month was […]

Consumer Slowdown Combined with Uncertain Investment Outlook

By Michael Burke, Partner, Magi Capital Partners US economic data continues to be mixed, with growing optimism on output and investment in many quarters offset by increasing concerns on the pace of demand growth. The lack of new business investment has been a key factor acting as a drag on the entire economy. But the […]

Central Bank Governor Optimistic Over Outlook for Lebanon

ACI – The Financial Markets Association is due to hold its 43rd World Congress in Lebanon in September and as part of the build up to the Congress, Profit & Loss spoke to Riad Salameh, the Governor of Banque du Liban, the country’s central bank, about his outlook for the local economy and recent events […]

ECB: Structural Changes in the FX Market

In its latest review of the FX market, the ECB sees evidence of structural change taking place within the FX market, and suggests that the “engines for change” are moving in the direction of an intraday money market or even towards an exchange model. Colin Lambert reviews the findings. The European Central Bank (ECB) has […]

Australia and New Zealand Stand Out from the Crowd

By Karen Pringle, ANZ Investment Bank If currency strength is any guide, both Australia and New Zealand have clearly been the destinations of choice for investors since the start of 2003. Both the Aud and Nzd surged from the start of this year to three- and four-year highs, respectively. Against the US dollar, the Aud […]

RBS Looks to EBS for Benchmark Fixing Service

The Royal Bank of Scotland (RBS) has become the latest financial institution to offer customers a benchmark currency fixing service. RBS FiX is intended to provide a snapshot of the market price at 11 fixed points throughout the trading day in each major trading zone in 61 currency pairs. The benchmark prices will be published […]

Swapstream Prepares for Launch

A regular theme in Profit & Loss and Digital FX over the past year has been the slow advance of e-trading into the derivatives market. The interest rate swaps (IRS) market in particular seems ripe for e-trading as it fulfils two basic requirements – volume, which surged from $54,072 billion at end-June 1999 to $89,995 […]

The 2003 Digital FX Awards Eye on the Client

After reviewing nearly 30 bank-offered websites, Profit & Loss magazine picks out some of the most outstanding services available to clients. On the following pages you will find the second Profit & Loss Digital FX Awards. It would appear that the debate over whether it is better trading FX online or off has finally been […]

White Labelling: A Win/Win Situation?

Surely, it is too good to be true. An offering that benefits everybody involved, enables large banks to leverage existing technology to attract flow from untapped sources, allows smaller banks to concentrate on sales without having to diversify into technology provision, and gives small banks’ clients a chance to enjoy access to more efficient and […]

43rd World Congress to Take Place in September

The deteriorating international political situation has forced ACI – The Financial Markets Association, to postpone its 43rd World Congress which was due to be held in Lebanon from May 22-25. The event is now scheduled for September 10-14, at the same venue. In a joint statement with Shadi Hanna, chairman of the ACI Lebanon Organising […]