Day: 22 January 2007

Chinese Banks Seek Greater Access to Derivatives

Chinese banks are reportedly approaching the country’s regulators for permission to use more hedging instruments to allow them to deal with potential foreign exchange losses as the yuan appreciates, according to a Xinhua report. “As the yuan increases in value, Chinese banks are becoming more exposed to potential exchange losses when they convert overseas profits […]

GL Trade Buys FNX

GL Trade, a provider of front to back office trading systems and market data, has moved to strengthen its position in the US by acquiring FNX Solutions, which specialises in the management and processing of OTC products for capital markets and hedge funds and is mainly based in the US and Japan. The deal, terms […]

PGS Launches Investable FX Index

Parker Global Strategies (PGS), which has tracked FX managers’ performance since January 1986 in its Parker FX Index, has launched an investable foreign exchange index, the PGS FX Alpha Edge. The index is designed to capture alpha available in the global currency markets, as well as to provide a return stream with low correlation to […]

Deutsche Bank Strengthens Currency Strategy Team

Deutsche Bank has appointed Koji Fukaya as senior currency strategist in Tokyo to enhance its foreign exchange research strategies for clients. He was previously chief economist at The Bank of Tokyo-Mitsubishi in Tokyo. Drew Bradford, Deutsche Bank’s head of global finance and foreign exchange, Japan, says Fukaya is one of the most capable names in […]

Credit Suisse Hires in EM

Credit Suisse has turned to a former member of the Royal Bank of Scotland proprietary FX team as it builds its emerging markets trading capabilities. John Banerjee has joined Credit Suisse in London as an emerging markets FX trader, market sources tell Squawkbox. He was previously working on Royal Bank of Scotland’s proprietary trading desk, […]

China FX Reserves Surge Past $1 Trillion

China’s foreign exchange reserves, already the world’s largest, jumped over 30% from a year earlier to reach a record of $1.07 trillion at the end of December 2006. According to the People’s Bank of China, the country’s central bank, continued trade surpluses, and foreign direct and portfolio investments are expected to drive the surplus by […]

RBC Adds Strategist: Builds Metals Team

RBC Capital Markets has hired David Watt as a senior foreign exchange strategist based in Toronto. He joins from BMO Capital Markets in Toronto where he had been a senior economist for over five years. Before that he worked as a senior economist at the Bank of Canada in Ottawa. Reporting to Monica Fan, RBC […]

Fokianos Joins Standard Chartered

Standard Chartered Bank is continuing the build up of its e-commerce teams with a key hire in London. Stamos Fokianos is starting at Standard Chartered Bank today (Monday 22 January) as global head of foreign exchange, commodities and futures e-development based in London. Fokianos was previously head of product management, ecommerce, at Royal Bank of […]

AIMA Hires Two to Work with Regulators

Industry group, the Alternative Investment Management Association (AIMA), has appointed Tim Kay as director of its Hong Kong branch and Alban Brindle as a research consultant in London. Kay has held senior positions at MSCI, Baring Asset Management and BNP Paribas Asset Management as well as co-founding investment firm, Peak Capital. He will be responsible […]

TradingScreen Integrates Credit Suisse’s AES

TradingScreen, a provider of multi-broker, multi-product trading platforms, has integrated Credit Suisse’s AES (Advanced Execution Services) algorithmic trading strategies for the listed futures markets into its products. “A natural evolution to our offering in algorithmic trading for equities is to extend this service across the other asset classes,” says Michael Chin, global head of sales […]

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