EM Search | Euromoney

Foreign Exchange

EBS outpaces CME

Although Goldman Sachs may be predicting that the OTC markets will migrate on to exchanges, it seems that, in FX at least, they are happy where they are.

November 07, 2008

Foreign Exchange

BoE repo rate: White flag in Threadneedle Street

The Bank of England’s surprise decision to slash its repo rate by 150 basis points to 3% could well be taken as a sign of the UK central banks complete capitulation. Alternatively, it could be that the Old Lady has woken up and realised that its inflation fight is not a priority when the wider economy is going down.

November 07, 2008

Foreign Exchange

UK investment landscape: The rise of the instividual

Barclays Wealth has sent out a white paper highlighting some of the changes that have occurred in the UK investment landscape over the past decade. Online trading has risen from a mere 0.1% to an astonishing 85% of trades, and investment has spread to new products, including FX. Barclays points to the rise of what it calls the ‘instividual’ – private clients who want the same level of service as institutions.

November 07, 2008

Foreign Exchange

High settlement costs – Don’t simply blame CLS

Whenever settlement is mentioned, it seems that the claim is made that CLS is too expensive. As the chart below shows though, CLS costs have fallen, as intended, with the increase in volumes. It now costs £0.57 per instruction to settle through CLS, down from £1.39 in 2004. Of course, costs may not be falling as fast as users want, but it seems that the bulk of post-trade costs are incurred outside CLS – in other words within the banks’ systems.

November 07, 2008

Foreign Exchange

DGCX tweaks rupee futures

The Dubai Gold and Commodities Exchange (DGCX) has altered its rupee futures. These are now dollar- rather than euro-denominated and cash settled. The contracts have been listed since June 2007, but seem to have attracted little interest.

November 07, 2008

Foreign Exchange

OTC moves to the exchange? Oh really

Much is being made about the likely migration of various OTC markets on to regulated exchanges, and not surprisingly the larger inter-dealer brokers are not altogether happy with what are glaring inaccuracies in most of the coverage.

November 07, 2008

Foreign Exchange

Front-running or piggybacking client orders: Back to the old ways

It may be time to dust off the manuals on how to front-run or piggyback client orders. News that various banks are shutting their proprietary trading desks because they can’t make adequate returns on capital means that money will have to be made the old-fashioned way.

November 07, 2008

Foreign Exchange

Obama – Good or bad for the markets?

I heard this week that markets like definitive results.

November 07, 2008

Foreign Exchange

weeklyFiX FM top 10

Popular music and politics are inseparable. Here is this week’s top 10 on weeklyFiX FM.

November 07, 2008

Foreign Exchange

Parker gains in September

The Parker FX Index reported a +0.24% return for September. A total of 71 funds reported, of which 36 showed positive returns, 34 showed losses and one was flat. Performance ranged from a high of +10.17% to a low of –7.45%.

November 07, 2008

Foreign Exchange

People moves: Goldman swings the axe

Goldman Sachs cut around 10% of its workforce this week. Among those rumoured to have departed are Matt Alexy, who worked in real money sales in New York, Juan Corbella, who serviced UK investors, and Luca Pietrangeli, who looked after Italian investors.

November 07, 2008

BANKING

Bond Outlook November 5th

President-elect Obama has an intimidating task to repair the damage of the outgoing Administration, but they have more or less fixed the capital markets ready to face a long downturn.

November 05, 2008

Search results for