Month: January 2008

Global FX Futures Volumes Sees Fastest Rise

Amongst all categories of futures contracts, including interest rate, commodity, and equity futures, it was foreign currency futures contracts that saw the biggest percentage gain in global volumes last year, according to the US-based Futures Industry Association (FIA). Foreign currency futures saw volumes rise by 41.8%, beating futures on individual equities which saw their volumes rise […]

Close Wealth Management Picks RBC Dexia for FX

Close Wealth Management, part of the Close Brothers Group, has selected RBC Dexia Investor Services to provide global custody and foreign exchange services for its £1.5 billion investment portfolios. Helen Aldridge, finance and operations director for Close Wealth Management says the selection was made following a rigorous review process to “identify the provider best-equipped to […]

Hedge Funds to Improve Public Disclosure

A group of 14 of London’s biggest hedge funds has drawn up a broad agenda to give the public more information about hedge fund managers in a bid to shake off criticism of the industry’s opacity. The Hedge Fund Working Group (HRWG), which manages some $180 billion of assets or about 10% of the global […]

Wing Lung Bank Licenses Fenics FX

Hong Kong’s Wing Lung Bank has licensed Fenics FX from GFI Group, for use in its treasury operations. Fenics FX is a pricing, risk management and trade processing system for FX options.  “As Wing Lung continues to grow its FX options business we require more automation and accuracy. Fenics FX gives us this capability and […]

Avalon FX Pro Links to FXCM Price Feed

Traders Development, a subsidiary of online trading software vendor Fini Group, has connected its proprietary Avalon FX Pro software to online retail FX liquidity provider Forex Capital Markets (FXCM).   Vladimir Karpenkov, CEO of Fini, says his firm makes continuous efforts to find strategic partners to achieve greater liquidity and tighter spreads: “FXCM is a […]

NumeriX and Thema Partner to Speed up Derivs Pricing

Clients of Thema Consulting, a provider of risk management, treasury and trading services and software, will be able to price and model complex derivatives more easily using NumeriX, a provider of pricing and risk analytics, through a new partnership.   NumeriX will offer its math libraries via Thema’s MasterFinance pricing engine, enabling financial institutions to […]

Hong Kong’s SHK Financial Appoints Ho

Hong Kong-based financial services provider SHK Financial has appointed Mark Ho as a director of business development. He will report to the firm’s executive chairman, S.H Lee, and will focus on developing over-the-counter trading platforms and structured products.    Initially, equity and equity derivatives opportunities will be explored but foreign exchange and commodities products will […]

Vietnam Central Bank to Liberalise FX

Vietnam’s central bank plans to remove limits on foreign exchange transactions in order to boost liquidity and boost trade and investment, according to a central bank official quoted by local media.   The vice governor of State Bank of Vietnam, Nguyen Dong Tien was cited by the local Tin Tuc newspaper as saying the bank […]

China Renminbi Outflows Encouraged

As the renminbi continues to strengthen to record highs against the US dollar, Chinese officials are moving to ease regulations to encourage currency outflows.  In the latest developments, authorities are planning to simplify offshore investment procedures including eliminating the need to identify the source of a domestic institutional investor's foreign currency, according to local press. […]

Hong Kong’s Exchange Fund Returns Aided by FX Valuation Gains

The Hong Kong Monetary Authority (HKMA) says its HK$1,417 billion ($182 billion) ‘Exchange Fund’ achieved an investment return of 11.8% in 2007. Its fund’s investment income of HK$142.2 billion included a foreign exchange valuation gain of HK$18.7 billion, mainly as a result of the appreciation of other currencies against the US dollar. HKMA is Hong Kong’s defacto […]