Month: June 2006

OTC Derivatives Activity Rises Again

Activity in the OTC derivatives market, as measured by the Bank for International Settlements’ (BIS) semi-annual survey of outstandings continues to rise, however for the second successive survey period the pace of growth has slowed. Overall notional amounts outstanding (excluding credit derivatives) rose to $284,819 billion as at end-December 2005, compared to $271,282 billion at […]

Bank of Canada Surveys Strong Canadian Dollar

The Bank of Canada, under the auspices of the Canadian Foreign Exchange Committee (CFEC), has released a report on its December 2005 survey of CFEC members into the foreign exchange hedging activities of their corporate customers. The questionnaire was similar to surveys that had been circulated to CFEC members in 2003 and 2004. The central […]

JP Morgan Makes Management Changes

JP Morgan has made changes to its FX management line up in the US, a spokesperson confirms. In New York, the bank has appointed Robert Lichten as global head of FX sales and trading, a newly created position, in addition to his role as head of North American corporate FX and derivatives marketing. Lichten reports […]

ANZ Shifts Roles, Hires Across Markets

ANZ Investment Bank has extended its capabilities across its capital markets business in both trading and sales with seven appointments in recent weeks. The bank has added to its London-based corporate sales team to help drive its sales initiatives in Europe and support its clients with interests in Asia. Katie Parker joins ANZ as assistant […]

CLS Responds to Market Pressures, and Delivers on a Promise

The impact of the new generation of high frequency traders has not only been felt in banking circles. The growth in volumes from this segment is also having an impact in the service sector of the industry where CLS Bank, which operates the Continuous Linked Settlement (CLS) mechanism, has cut its fees for lower incremental […]

UBS Moves FX Trading to Zurich

UBS has officially announced its decision to relocate its London FX trading business to Zurich, putting an end to two years of speculation about such a move. The bank confirmed it is moving the risk management function of its Foreign Exchange and Cash and Collateral Trading Business (FXCCT) to Switzerland in August to “maximise efficiency”. […]

Last Two NAB Traders Guilty: Bank to Turn its Attention to Brokers?

The two remaining former FX options traders accused of rogue trading and covering up AUD 360 million losses at National Australia Bank (NAB) have been found guilty by the Victoria County Court. Hopes that this may bring a curtain down on the sorry affair appear unfounded however as NAB is now likely to target two […]

Reuters Adds Four to RTFX

Deutsche Bank, Dexia, HSBC and Societe Generale have gone live on Reuters’ bank-to-client platform, Reuters Trading for Foreign Exchange (RTFX). In addition, Citigroup has become the latest bank to commit to providing tradable prices to the service and plans to go live in Q3. RTFX allows banks and their customers to trade foreign exchange from […]

Belzberg Technologies Selects LavaFX

Belzberg Technologies, a provider of technology-based equity and options trading, is expanding into foreign exchange and has selected Lava Technology’s LavaFX platform to provide FX trading services to its clients. LavaFX will be fully integrated with the Belzberg trading system, providing customers with online spot trading in multiple currencies and hedging in combination with cross-border […]

TraderTools Adds Online Chat

TraderTools, a supplier of FX white-label software products, has introduced online chat and auditing capabilities to its e-FX trading platform. The company has integrated instant messenger system Live Assistant from Jive Software with Facetime’s Imauditor for security and compliance on its platform. Mark Mayerfeld, executive vice president, international sales at TraderTools, says “Our goal is […]