Month: May 2008

Former FX Head Joins Australian Hedge Fund

Prodigal Funds Management, a Sydney-based hedge fund, has appointed Jeff Lee as head of risk and manager of its convertible bond arbitrage book. Lee was previously global head of foreign exchange and commodities trading at NabCapital Global Markets in Sydney. NabCapital is the treasury and capital markets division of the National Australia Bank. Prodigal manages […]

Quattro Asset Management Takes UBS FX Strategy

Quattro Asset Management, an Australian multi-manager company, has launched a hedge fund called Vault 8 that allocates to five investment strategies, including a G10 currency strategy run by UBS. The UBS Global Currencies G10 Carry Trade strategy invests in three high yielding currencies and sells three low yielding currencies from the G10 universe. The strategy […]

This Week’s Releases

Saxo Bank has introduced a mobility-enhancing version of its multi-asset class trading platform SaxoTrader. SaxoWebTrader 2.0, and SaxoMobileTrader 2.0, will allow clients to trade foreign exchange from any application with browsing capabilities, such as a laptop, Blackberry or mobile phone, with instant access to liquidity available via Saxo. Velocity Systems has launched its Vistra FX […]

Falkiner Global Investors Appoints COO

Falkiner Global Investors, a Sydney-based global equities fund manager that actively manages currency risk, has appointed Carina Killick as chief operating officer as it moves to raise new capital from retail investors and financial planners. Killick previously worked for Fidelity Asia Services, Macquarie Bank, and BT Funds Management. Falkiner’s global equities fund takes an active […]

Growing Interest in Japanese Retail FX Market: Celent

Japanese investors still have a strong preference for domestic equities, but there is growing interest for foreign exchange according to a new report from research company Celent. There is an increased number of participants in the foreign exchange margin trading market, particularly women who account for 30% of trading volume on the Tokyo Foreign Exchange. […]

And Finally…

The Bank for International Settlements released its latest semi-annual survey of OTC derivatives turnover last week. The release showed that the notional amount of derivatives outstanding rose 15% to $596 trillion as at the end of December 2007. The BIS summarises the growth trend in all products, and as usual FX product growth was cited […]

Focus: Turkey A new equilibrium

The Turkish lira (TRY), since February, has lost about 15% against an equally weighted EUR/USD basket, a performance that comes close to the May 2006 crisis (Figure 1), making TRY the second worst-performing currency in emerging markets this year (Figure 2). Although rising risk premium globally has much to do with the weakness, the severe […]

Colin Lambert Meets the management of C-View

When one discusses evolution in terms of a currency manager, there are occasions when it can be a limited discussion – there are those that believe everything is a bet on the dollar, others offer an intransigent view that only a systematic/discretionary (delete as appropriate) approach has value. UK currency manager C-View is into its […]

Lessons learnt from the credit crisis dominate discussions at Profit & Loss’s first Forex Network of 2008.

The FX industry, while relatively unscathed from the financial markets’ woes that started unfolding in all their gruesome reality late last year, still has lessons to learn from the credit crisis. It was these lessons that dominated discussions at the first Profit & Loss Forex Network conference of 2008. Held at the Royal Mint Court […]

GL Trade Connects to Major FX ECNs

GL Trade is getting one step nearer to its goal of offering a truly multi-asset trading system after connecting to some of the biggest foreign exchange electronic communication networks (ECNs). The Paris-headquartered company has traditionally provided front-to-back office trading services in equities, derivatives and, more recently, commodities. Following customer demand for electronic FX trading, it […]