Day: 20 November 2006

Forex Network Ends 2006 on a High

Profit & Loss‘ Forex Network ended 2006 on a very strong note with 350 registrations for Forex Network Asia in Shanghai last week – the highest number for a Profit & Loss event. Delegates heard from a host of speakers at the event, which was held at the Grand Hyatt in Shanghai’s Pu Dong financial […]

JP Morgan Names New FX Chief as Puth Steps Down

Blythe Masters is taking over from David Puth as global head of currencies and commodities at JP Morgan, a spokesperson tells Squawkbox. The move follows Puth’s decision to step down at the end of the year to pursue other interests. Ranking among Wall Street’s most powerful female executives, Masters joined the bank in 1991 as […]

Rivals Launch Benchmark Page for Spot FX Prices

Rivals EBS and Reuters have partnered to launch a new benchmark page for spot FX price fixings to provide reference rates twice a day. The page will improve the quality of pricing information available to the whole market, the Bank of England says. Reuters EBS Spot Fixing shows spot FX price fixings for 11 currency […]

Reuters Appoints Head of Treasury for the Americas

Reuters has appointed a new head of treasury for the Americas. Matt O’Hara joins from JP Morgan Chase in New York where he worked as head of North American e-commerce sales for the currency and commodities group.  He has also worked in the foreign exchange and money markets groups at First National Bank of Chicago in London and Bank One in […]

Australia’s FX Volumes Jump 35%

Turnover in Australia’s foreign exchange markets grew by 35.5% in the year to June 30, 2006, according to the Australian Financial Markets Association (AFMA) annual markets report. Spot FX resulted in AUD13.97 trillion in annual turnover, up 40.3% from the previous year. FX swaps grew 35.1% to AUD26.82 trillion and forward FX grew 52.9% to […]

Gain U-Turn as it Buys Refco Customer List

FX trading company Gain Capital Group has beaten off competition from Saxo Bank to purchase Refco FX Associates’ retail customer account information and marketing list. The agreement represents a u-turn for Gain, which in July terminated a deal to buy the forex accounts. Only last month, RFXA said it had entered into an agreement with […]

Hathersage Hires IT Head

Currency manager Hathersage Capital Management has hired a director of information technology. Rob Schmidt has joined with responsibility for the planning, design and implementation of the company’s information infrastructure. Hathersage says he will ensure the timely delivery of IT services throughout the organisation, from market data feeds at the trading desk, to management controls in the […]

Hong Kong and Malaysia Launch Cross-Border Payment Link

The Hong Kong Monetary Authority (HKMA) and central bank Bank Negara Malaysia have launched a new cross-border payment-versus-payment (PvP) link between Hong Kong’s US dollar real-time gross settlement (RTGS) system and Malaysia’s ringgit RTGS system. The link aims to eliminate settlement risk in FX transactions between dollars and Malaysian ringgit by ensuring the simultaneous delivery […]

Vietnam’s Police Ask ABN Amro to Pay $4.5 million

Vietnam’s investigation police agency has asked ABN Amro for the return of $4.5 million arising from alleged illegal transactions it made with the Industrial and Commercial Bank of Vietnam (Incombank). Police have “trustworthy evidence of the fraud,” local media reported. However, a source within the Vietnam banking industry tells Squawkbox that “this is nothing new. […]

FX Concepts Launches New Fund

New York-based currency manager FX Concepts has launched a new fund, called the Concepts Multi-Strategy Institutional Fund – GBP Shares. The fund has been seeded by Bedfordshire County Council’s pension fund, and is designed for UK local authorities who look to currency as a source of uncorrelated alpha in their portfolios. The firm says the […]