Month: January 2009

Indian Business Association Seeks Government Mediation in FX Dispute

India’s Confederation of Indian Industry (CII) has stepped into a dispute between some of its members and banks over losses relating to exotic foreign exchange products. The CII has called upon India’s Prime Minister Manmohan Singh to chair a committee to resolve the dispute between Indian exporters and the banks. The former allege that they […]

RCG Rolls Out Behavioural Tool

Futures clearing company Rosenthal Collins Group (RCG) says it has developed and filed for patent protection on what it claims is a ‘first of its kind’ futures brokerage risk management system. Based on Complex Event Processing (CEP) technology and scheduled to launch in the first quarter, RCG RiskHunter is designed to “hunt” out and highlight […]

CIBC Hires in FX Institutional Sales

CIBC World Markets has raided rival RBC for one of its senior FX salespeople in Toronto. The bank has appointed Darcy Browne as managing director of foreign exchange institutional sales reporting to Eric Blanger, managing director of the bank’s financial solutions group. Browne started last Monday, 12 January, and is based in Toronto. He joins […]

RTS Exchange Sets Record in US Dollar Futures

Forts, the futures and options market of the Russian Trading System stock exchange, set a new volume record last week for trades in its USD/rouble contract, worth some $39.5 million. “During the day time trading session of January 13, a record number of trades in US dollar futures contracts was registered, with the number of […]

CME Extends Discounted Fees Program

CME Group is expanding its international incentive programs to provide its customer base with greater access to CME, CBOT and Nymex products. The incentive programs will include a simplified fee structure and will be extended until December 31, 2010. The international incentives will include CME and CBOT products effective February 1, 2009. Nymex products will […]

FXA Launches New FX Program

California-based Foreign Exchange Advisors (FXA) has rolled out a new program that allows clients to maintain total control over their funds. The company – which offers risk management and hedging advisory services for clients to follow rather than selling FX trading services – is seeking a 12% target return with a maximum loss to principle […]

Thomson Reuters Adds Market Movement Signals to News

Thomson Reuters has expanded its machine-readable news service to include real-time analysis on key news events, which has the ability to help predict market volatility and returns. NewsScope Event Indices (NEI), developed in conjunction with Cambridge, MA-based asset management company AlphaSimplex Group, enables clients to more easily incorporate news into their trading and risk management […]

FXCM Buys ODL Securities in the US

Foreign exchange broker FXCM has acquired the US business of ODL Securities, an independent forex, derivatives, equity, spread betting and commodity trading house. Financial terms of the deal were not disclosed. The move follows the recent implementation of new and more complex regulatory rules that have made it increasingly difficult for all forex dealer members […]

Georgia Man Accused of $25 Million Currency Scheme

Federal regulators have charged currency trading company CRE Capital Corp. of Alpharetta, GA and its president and sole owner, James Ossie, with operating a Ponzi scheme involving more than 100 people and approximately $25 million in connection with foreign currency transactions. The US Commodity Futures Trading Commission (CFTC) says neither has ever registered with the […]

HKMA Revises FX Risk Guidelines

The Hong Kong Monetary Authority (HKMA) has released new recommendations for foreign exchange risk in response to a report released by the Bank for International Settlements (BIS) last year. The Hong Kong regulator, responsible for maintaining monetary and banking stability, says its new module, TA-2 Foreign Exchange Risk Management, has incorporated the recommendations set out […]