Clearing Firms Charge Ahead with New Technology

By Tom Healey, TH Technology Partners For clearing firms, market trends over the past two years have provided a “good news/bad news” story. The good news is, as screen-based trading of listed derivatives increases, the role of the clearing firm will become even more important than the exchange where the contract is executed. Traders are […]
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E-Broking Vs Voice Broking: A Study

Dr Ian Marsh The past few years have seen a startling change in the way forex dealers trade. My study of UK-based traders conducted in March 1998 gave electronic brokers more than 50% of the market, up from just 6% five years earlier. Both the bilateral telephone network and traditional voice brokers are losing out. […]
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CBA Restructures Forex Unit To Support New Client Structure

In a move that supports its new client service model, Commonwealth Bank Financial Markets in Sydney has recently altered its structure and made some significant forex staff changes, says Paul Riordan, global manager. The new model comprises corporates, investors and financial institutions. John Noonan joined the bank as head of financial institution sales, FX, and […]
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What Happened to Rabobank?

After announcing a commitment to build a world-class forex operation nearly two years ago, Rabobank decided in June to curtail the business. The decision resulted in 105 job cuts in London (about one-third of the dealing room) as part of a restructuring of its wider international wholesale operation. With the decision to relocate the London-based […]
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Living Large: Deutsche Digests Bankers

Sitting in a brand new, 700-position dealing room in the City, Deutsche Bank is digesting its June acquisition of Bankers Trust. The German bank is now positioned as one of the top three global custody banks, and has adopted some key areas of strength from Bankers’ forex business. On top, things look very much the […]
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Tullett & Tokyo and Bloomberg Plan Electronic Forward System

Tullett & Tokyo International is one shop that is taking a proactive role. In June, the shop unveiled plans to launch an electronic trading service with Bloomberg for FX forwards. The new system, Fast Forwards, was previewed at Forex 99 in Milan last month and is scheduled to enter beta tests with customers in the […]
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The New Faces at Prebon Marshall Yamane

Since the June 1 merger of Fulton Prebon Group and Marshalls Finance, a few things have changed at 155 Bishopsgate. For one, Prebon has a spot desk again. For another, the former rivals have created a truly integrated operation, run by joint managing directors – Garry Pithers of Prebon and Tony Verrier of Marshalls. Prebon […]
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Q&A With Allied Irish Capital Management

Company Information   Company Name: Allied Irish Capital Management Ltd. Address: 85 Pembroke Road, Ballsbridge, Dublin 4   Ireland Contact Name: Gerry Grimes Phone Number: 353 1 668 8860 Fax Number: 353 1 668 8831 E-Mail: Ggrimes@aicm.com Product Name: Foreign Exchange Program Product Assets: As at end June 99: $361.1 m Total Assets Under Management: […]
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CSFB Hires New Sales Heads from Deutsche Zurich

Credit Suisse First Boston (CSFB) has hired two senior sales dealers from Deutsche Bank in Zurich, confirms an official. Thierry Thevenaz and Maroan Maizar will jointly head the FX sales team at CSFB’s Zurich headquarters. “Thevenaz and Maizar were brought in to further expand the wholesale banking franchise in Switzerland, as well as to continue […]
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Strong and Getting Stronger The Medium-Term Outlook For the Yen

By Michael Burke, B&M Research Japanese policy is now completely geared towards reflation via ultra-low interest rates and a stimulative fiscal policy. This reflation is working as can be seen in the rise of the Japanese stock market and the steepening of the JGB yield curve. In time, this reflationary policy will induce a self-sustaining […]
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