Month: October 2005

Russell Continues FX Trading Build-up with LavaFX

Russell Investment Group which just announced its entry to Hotspot FXi (see Squawkbox, October 24), has also begun using rival platform LavaFX. Now trading on LavaFX as a market maker for its clients, Russell says the platform will enhance its ability to offer clients additional liquidity, trading anonymity and additional information to assess best execution. […]

Hayes Joins BarCap as Economist

Barclays Capital has appointed Simon Hayes as director within the bank’s London-based UK economics team. Hayes joined on October 10 and reports to David Hillier, chief UK economist. Hayes was previously with Bank of America, where he most recently managed the UK economic assessment team and was also responsible for advising the monetary policy committee […]

CBRC’s Director-General to Give Opening Keynote at Forex Network Asia; Bank of China’s Treasurer Discusses “Asia’s Role in the Global Market”

Wang Huaqing, the Director-General of the China Banking Regulatory Commission (CBRC) will make the Opening Keynote Address at the world’s leading FX conference “Profit & Loss Forex Network Asia”, on November 10-11 at the Four Seasons Hotel in Shanghai. This opening speech on Thursday afternoon will address banking reforms in China and look at measures […]

Two Banks Go Live on Reuters FX Service in Q4

Barclays Capital has gone live on Reuters Trading for Foreign Exchange (RTFX) through the Barclays’ BARX electronic trading platform, initially in Asia. Meanwhile, Deutsche Bank also plans to go live on the platform by the end of this year. BarCap is the sixth bank to go join RTFX. Another nine (including Deutsche) are expected to […]

Forex Network Asia: Understanding the Future of the Industry

With the first afternoon focused on opportunities in China and the wider Asian marketplace and the second day devoted to debates on future trends in the industry, the upcoming Forex Network in Shanghai promises to combine the think tank environment of Profit and Loss events with plenty of networking opportunities for both buy and sell […]

New Head of FX Strategy at BBH

Brown Brothers Harriman (BBH) is set to unveil Marc Chandler as its new head of currency research this week, according to sources close to the company. He will work alongside current incumbent Anne Parker Mills for a short period of time – Parker Mills announced her intention to retire earlier this year and is expected […]

US Banks Report Strong Results

The benefits of the increased interest in FX within the US were reflected last week with a series of strong trading revenue results from US banks. Bank of America (BofA) reported Q3 FX revenues of $199 million, up from $163 million in the same quarter of 2004. Year-to-date, BofA reported FX trading revenue of $585 […]

Refco Implosion Blow to Snow in China

Refco’s demise could not come at a worst time for US officials including Treasury Secretary John Snow, and the chairmen of the US SEC and CFTC, Christopher Cox and Reuben Jeffery respectively, who have been in China for the past week in talks with Chinese counterparts over financial liberalisation. The US has been cajoling China […]

Hotspot FXi Breaks New Ground

New ground was broken last week in the FX market’s evolution with the announcement that asset manager Russell Investment Group – with $136 billion assets under management – is to use Hotspot FXi, a trading platform that utilises anonymous trading in a matching environment. Previously, asset managers have proven reluctant to take up trading in […]

FX Underpins Singapore Treasury Market Growth

Singapore’s bank treasury market has displayed strong growth with both revenues and trading volume increasing approximately 20% during 2004, according to survey results released by the Monetary Authority of Singapore [MAS] last week, which showed trading volumes reached US$204 billion, while revenue grew to a high of US$3.2 billion. MAS says that as with previous […]