Month: January 2006

Shanghai Regulator Warns Foreign Banks

The Shanghai Banking Regulatory Bureau has warned foreign banks in its municipality to pay attention to how they sell foreign exchange asset management products to retail investors. The warning was given in response to increased retail complaints concerning the products, according to the official Xinhua News Agency. With the renminbi appreciating by some 2% since […]

EBS Reports Strong Gold Volumes

EBS announced a significant volume threshold for gold trading on Monday, December 12, with transactions worth a total of $671.6 million over the platform. The amount traded, 1,417,000 ounces, was the second highest since EBS started precious metals trading in July 2000. The record day in terms of weight was November 26, 2004, when 1,429,000 […]

Algorithmic Trading:Flavour of the Day or Here to Stay?

Perhaps the biggest growth area in the FX market in recent years “and a major reason why FX volumes have continued to climb” has been the rise of the systematic model. Mathematicians and scientists have moved into the FX space, bringing with them increasingly sophisticated and complex algorithmic models with which to capture value in […]

RBS Launches Order Book

It has been one of the more surprising elements of the spread of the e-channel that electronic order books have not been a central feature of its growth. Given that the first widespread iterations of e-trading, Reuters Matching and EBS, were order-driven systems, it would appear to be obvious that to compliment a bank’s e-trading […]

Ferscha Leaves Deutsche Borse as Eurex FX Sees Slow Start

Rudolf Ferscha resigned from his position as member of the executive board of Deutsche Borse and as CEO of Eurex at the end of 2005. The company says he left at his own request under an amicable and mutual agreement. Kurt Viermetz, chairman of Deutsche Borse’s supervisory board says, On behalf of Deutsche Borse I […]

Barclays Unveils FX Optimizer

Barclays Capital (BarCap) unveiled its latest e-tool at its recent global FX conference in London. The FX Optimizer is a Web-based interactive product aimed at optimising client hedging procedures and exposures. David Woo, head of global FX strategy at BarCap, told delegates at the FX conference that the tool can act as a reality check […]

OTC Derivatives Growth Slows

Activity in the OTC derivatives market continued to grow during the first half of 2005 but at a slower pace than in the preceding six months, according to the latest semiannual survey by the Bank for International Settlements (BIS). Notwithstanding that, interest rate derivative outstandings broke the $200 trillion barrier for the first time.All published […]

FX Exposures in Australia Jump 46%…

Australia’s net long foreign currency exposure, after FX hedging through derivatives, has jumped 46% to A$217.6 billion (US$160 billion) since June 2001, according to data released by the Australian Bureau of Statistics (ABS). All major Australian enterprises including banks, financial institutions, the Reserve Bank of Australia (RBA), state borrowing authorities and companies were surveyed by […]

Nielsen gets Bigger Role as RBS Restructures

The Royal Bank of Scotland (RBS) has restructured its Corporate Banking and Financial Markets division (CBFM) into two business lines Corporate Markets and Global Banking and Markets (GBM). The changes took effect from January 1. Brian Crowe, deputy chief executive of the former CBFM, assumes the role of chief executive for GBM. Leith Robertson, global […]

Bank of Ireland Expands

As part of its expansion plans, the Bank of Ireland Global Markets (BoI) is opening a London treasury operation and has made two key hires for its New York office. As part of the targeted expansion in the US, the bank has tapped American Express New York’s Matthew Porio and Darsh Mariyappa to drive growth […]