Month: May 2003

AIG Changes Continue

Following the swathe of confirmed appointments made by AIG last month, sources have told Profit & Loss of a number of people joining and leaving the organisation, none of which could be confirmed by press time. Carl Nabar is said to have joined the bank, he follows the recent appointment of Paul Stubs, which joined […]

Stacey Joins Morgan Stanley

Darren Stacey joins Morgan Stanley as a spot yen trader, the bank confirms. Based in London, he reports to Jens-Peter Stein, the bank’s head of FX trading for Europe. He joins from JP Morgan, also in London, where he fulfilled a similar role.

ANZ Brings in Hardingham

ANZ Investment Bank has appointed Paul Hardingham to its European FX sales team as senior manager, UK institutional sales. Based in London, he will report to Sue Rasmussen, head of FX sales in Europe, and be responsible for managing FX sales with fund managers and the insurance group sector in the UK. Hardingham joins from […]

CLS Meets…and Beats…its First Challenge

While repeated delays marred the image of Continuous Linked Settlement (CLS), the period since its September 2002 launch has been nothing short of a success story. Volumes have been steadily rising, additional banks have become settlement members, and interest in third party CLS services has grown. Much of this is reflected in a report prepared […]

Goldman Infuses Options Transparency with Responsibility

It has regularly been argued within these pages that to increase transparency and demand for derivative products, the processing of such instruments should be put online. It can equally be argued that derivatives have got a bad name (especially in the mainstream press), for their role in various financial ‘events’, and that the only way […]

Prime Brokerage: Time is of the Essence

Although prime brokerage is seen in many camps as the next battleground for market share, the reality is that it is a business that has been around for nearly a decade. Indeed, FX prime brokerage is now mature enough that many institutions – including the newcomers – are extending their e-services to this segment. Colin […]

FMA-USA Conference Focuses on E-Trading

FX & Capital Markets: Today and Tomorrow is the theme of a two-day conference being hosted jointly by the Financial Markets Association – USA and Profit & Loss magazine at the Palmer House Hilton in Chicago, May 15-16. With more than 30 speakers lined up, including three central bankers representing the US, Canada and Mexico, […]

Currency Managers on Steady Course in February

Currency managers in the Parker FX Index narrowly continued the positive trend begun in December, rising 0.16% in February. All 48 programmes reported February results, with 60% reporting positive performance. This is the third successive month that the index has seen positive returns, with a 3.87% rise in December and a 2.60% rise in January. […]

Where to Invest the Dollars?

With the greater interest in the efficient management of foreign reserves comes the decision where to invest in the chosen markets. As noted in the accompanying feature on the operations of the Reserve Bank of New Zealand (RBNZ), Japan has lost ground in the race to attract offshore sovereign investment, and the dollar and the […]

Managing Central Bank Reserves :The Experience in New Zealand

The need for accountability is a key part of the financial market’s infrastructure; however, central banks have generally not been accountable, in public at least, to how they manage their countries’ foreign currency reserves.  Nevertheless, the increased attention upon central government activities in many areas of the world has led the authorities to study how […]