CLS Bank Prepares for October 2000 Launch

Excerpted from speeches given by CLS officials at the Sibos conference in Munich last month At present, our focus is very clearly on the successful launch and ramp-up of CLS Bank, reducing forex settlement risk and establishing a new, global process for multi-currency settlement. However, we also have an eye for the future. CLS will […]
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An ECB Rate Protest is Needed to Stem Euro Weakness.

By Andres Drobny, DrobnyGlobalMonitor There’s an odd thing in the latest ECB report, released September 16. On the surface, it looks and sounds relaxed. The report makes pleasant sounding noises about inflation rising, but levelling off below the 2% level. However, all of this seems to be based on currency values in play before the […]
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The Likely Scope of Fed Tightening

By Michael Burke, B&M Research Subdued jobs growth recorded in the latest US non-farm payrolls has left market sentiment less sure about the prospect for further Fed tightening. Yet, looking behind the ebb and flow of each new piece of US economic data, an analysis of what makes the Fed tick suggests that rates are […]
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Why the South African Rand Will Collapse Again

By John Cairns, IDEAglobal.com History has a way of repeating itself. The South African rand collapsed spectacularly in both 1996 and 1998, seeing losses in the order of 30% taking the rand to R6.84 per dollar at one stage, and everything suggests a similar pattern will develop again. Effectively, as the economy recovers into next […]
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Y2K What Does it Mean to You?

By Philip Kozloff, Kozloff Consulting Y2K is about differentials rather than absolutes. We are constantly dealing with ranges of alternatives in financial markets. Subtle distinctions are made between one investment and another. Year 2000 perceptions (the realities almost don’t matter) may be decisive considerations in the run-up to the New Year. This notorious date rollover […]
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Dresdner Makes Selective Hires to Bolster Singapore

Dresdner Kleinwort Benson has hired a small team of senior trading and sales dealers from the former Bankers Trust in Singapore. The hires represent a selective build-up of the operation, complementing the existing team, says Fred Dubignon, Dresdner’s head of FX sales in London. David Wensley has been named as the new regional trading manager […]
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MacKinnon Settles Into New Role at Merrill Lynch

In his new position as senior currency strategist for Merrill Lynch in London, Neil MacKinnon says he is focusing primarily on short-term moves in the major currencies, but that he is also contributing to the firm’s longer term forecasts in the wider FX markets, including emerging markets. “This as a very exciting and challenging opportunity […]
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Bigger Better Macquarie Settles in to New Role

Macquarie Bank has taken more than half of the former BT Australia forex division, which was acquired in July as part of the bank’s wider purchase of Bankers Trust’s investment banking activities in Australia. Simon Wright, who heads FX for Macquarie, says the bank has restructured the forex division to make way for the new […]
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ING Hires Miragaya As New Head of FX

ING Barings has hired two former Salomon Smith Barney/CitiGroup dealers to its forex operation in New York. George Miragaya joined the bank in late July as the new head of FX sales and trading, while John Stapleton joined as a senior trader. The hires mark a rebuilding of New York operation, which underwent a downsizing […]
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Tullett & Tokyo Merges With Liberty Brokerage

Tullett & Tokyo Plc and Liberty Brokerage Investment Corp announced plans to merge, securing a place among the top three inter-dealer brokers globally. The new company, Tullett & Tokyo Liberty, will combine Tullett’s global strength in FX, money markets, derivatives, energy, securities and equity products, with Liberty’s dominance in US Treasury securities, where it holds […]
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