Month: August 2006

Robeco Buys into Currency Hedge Fund

Dutch fund management giant Robeco has acquired a 40% stake in Belgium’s Analytic Investment Management (AIM), a hedge fund group specialising in systematic intra-day currency trading based solely on quantitative models. AIM exclusively manages institutional accounts, mostly for pension funds and hedge funds, which amount to more than $200 million and says it executes currency […]

China Sees Rise in Suspect FX Dealings

China’s central bank, the People’s Bank of China, recorded a 12-fold surge in the number of reported suspicious foreign exchange dealings, according to its latest report on money laundering. Financial institutions reported almost 12 times as many suspect international transactions in 2005 as in the year before – a total of 1.99 million – according […]

Committees Amend Latam Currency Definitions

The New York Foreign Exchange Committee (FXC), EMTA, the Emerging Market association, and ISDA have released new and amended rate source definitions for three Latin American currencies. The committees have added a new source for the Colobian peso and amended existing sources for the Chilean peso, Colombian peso and the Peruvian sol. The new protocol […]

Hot Money Inflow into China Mostly IPO Funds

Speculative funds or "hot money" inflow into China reached $1.02 billion, $4.45 billion, $5.31 billion and $12.5 billion in February, March, April and May 2006, respectively, according to China’s National Bureau of Statistics. The flows are partly the reason for the appreciation of the renminbi, which has moved close to the People’s Bank of China’s […]

Barclays Sets up Credit Derivatives Prop Desks

Barclays Capital has set up two proprietary trading desks in New York and London to trade credit derivatives. The bank says the desks have been created to keep pace with the rapid increase of its client business. Rupesh Tailor, a credit derivatives trader from Barclays Capital, has been moved over to work on the desk […]

China Appoints New Derivatives Exchange Head

Zhu Yuchen, also known as Eugene Zhu, has been appointed general manager of the new Shanghai Financial Derivatives Exchange, according to a report by Reuters. Zhu was previously head of the Dalian Commodity Exchange, which trades agricultural futures. The derivatives exchange, jointly owned by China’s three futures exchanges and two stock exchanges has not been […]

Man Group Targets Hong Kong Retail

UK hedge fund company Man Group has launched a new futures and options product aimed at retail investors in Hong Kong in an effort to tap an increasing demand there for alternative investment products. The Man AHL Guaranteed Futures Ltd Fund will invest in more than 100 futures and options markets globally using a computer-driven […]

Forex Workshop for Vietnam’s Central Bankers

Vietnamese central bank officials took part in a training programme on foreign exchange management last week, funded by the Ho Chi Minh City-based Taiwanese Lawrence S. Ting Memorial Fund. The aim of the training was to improve the skills of the State Bank of Vietnam officers in handling forex policy and financial management issues in […]

South Indian Bank Selects Credence Analytics

The South Indian Bank has chosen software provider Credence Analytics’ iDeal platform to automate its treasury operations and Mercury-fx as its online branch dealing system. The South Indian Bank, which has 451 branches in India, will use Credence iDeal to handle the straight-through processing requirements of its integrated treasury business that includes the forex, fixed […]

BBH Implements Eagle Star Multi-Currency System

Brown Brothers Harriman has implemented the Eagle Star multi-currency global investment accounting system to handle the complex instruments being used by its investment managers. BBH is using the system to support its global business across all asset classes and instrument types.The system provides integrated reporting via BBH’s single web-based portal, BBH Worldview, alongside its other […]