Month: October 2011

Henderson Closes Global Currency Fund

Henderson Global Investors has confirmed it will close its Global Currency fund and that its five member currency team headed by Bob Arends will leave the firm. Henderson launched the fund after the Amsterdam-based team joined from Fortis Bank in January 2009 (Squawkbox, 12 January, 2009). The Cayman-domiciled Global Currency fund, launched in May 2009, was […]

Forex Network Canada Takes Place Next Week

Profit and Loss, in association with the Financial Markets Association – Canada, will hold its second annual Forex Network Canada Conference on 9 November at the Toronto Board of Trade. The conference will feature a mix of keynote presentations and panel discussions aimed at highlighting the key issues and challenges facing market participants and service […]

Currency Funds Post Gains in September

Global currency funds posted gains in September as risk aversion soared during the month, according to the latest Parker FX Index report from fund-of-funds manager Parker Global Strategies. Funds in the index reported an aggregate gain of 1.60% with 37 out of 55 funds reporting positive results and 19 incurring losses. The performance for September […]

Deutsche Boerse and NYSE Deal Delayed

The Deutsche Boerse AG takeover over of NYSE Euronext to create the world’s biggest exchange has been delayed by Deutsche Boerse following criticism from EU regulators. Deutsche Boerse asked the EU regulator for more time to respond to worries that the deal will create a derivatives and clearing monopoly. The proposed merger was defended by […]

Saxo Bank Opens Belgium Office

Saxo Bank has opened a new branch in Brussels to provide Belgian investors with access to international financial markets and has appointed Géraud Missonnier as director of Saxo Bank Belgium. Missonnier will take over the operational implementation in Belgium and oversee the organisation’s development in the Belgian market. The opening of the office is a […]

Zions Licenses Spectrum Treasury System and Client Portal

Zions Management Services Corp. has licensed the Spectrum Treasury System and Client Portal from Financial Software Systems to support its Treasury dealings in foreign exchange spot, forwards, swaps, and options. The Spectrum Client Portal will provide Zions’ clients with an internet channel for FX trading and FX payments with straight-through processing for Zions’ back-office staff. […]

BGC Partners Reports Q3 Revenue Rise

BGC Partners has reported a 37.5% rise in third quarter foreign exchange trading revenues compared to the same period last year. For the quarter, brokerage revenues across asset classes rose 22% to $356.5 million, up from $292.3 million for the prior year quarter. FX revenues reached $61.1 million, up from $44.4 million for the comparable […]

First Asian FX Forwards Cleared By SGX

The Singapore Exchange (SGX) has launched its clearing service for over-the-counter traded Asian foreign exchange non deliverable forwards with Deutsche Bank, DBS Bank and OCBC Bank clearing their first Asian FX forwards with the exchange. SGX’s clearing initiative is aligned with global developments toward central counterparty clearing of OTC derivatives to promote systemic stability in […]

Nasdaq OMX Signs Deal with Chilean Exchange

Nasdaq OMX has struck a deal with the Bolsa Electronica de Chile (BEC) to provide?technology and advisory services to the Latin American exchange and to explore the creation of a Chilean peso-dollar derivatives contract.? Nasdaq OMX will advise BEC on the cross-listing of shares, aid the development of new indices and consider ways to create […]

On the Move

Higgs Departs Tullett Prebon? Richard Higgs has left his role as senior managing director for emerging markets at Tullett Prebon Americas, according to sources familiar with the matter, . Higgs joined Prebon Yamane Americas in 2000 as an executive director of its FX division, reporting to Keith Miles, president of Prebon Yamane Americas (Profit & […]