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Foreign Exchange

Tullett Prebon and GFI: Who’d think of hedging?

The seemingly never-ending saga of the merger between Tullett Prebon and GFI took yet another twist this week when the two companies announced they were unable to agree terms.

September 12, 2008

Foreign Exchange

Centralised exchange: The nail in the coffin of the exchange argument

For years the debate raged about when FX would embrace a model like the equity market and move on to a centralised exchange. For a time, I subscribed to this view, especially around the time I tried somewhat cheekily to buy EBS – but that’s another story.

September 12, 2008

Foreign Exchange

Citi looks for retail therapy in Hong Kong

Citi has launched CitiFX Pro – the FX trading platform it white-labelled from Saxo – in Hong Kong. The bank says it will roll out CitiFX Pro in other Asian centres in the next few months.

September 12, 2008

Foreign Exchange

CME comes back on option exercises

The article last week (www.euromoneyfix.com/Article.aspx?ArticleID=2009629) about some of the practices around option expiries and abandons on the exchanges prompted a solid response from the CME. While I was talking generally about exchange-traded options, the CME points out that it launched automatic exercises for in-the-money European FX options in its liquid contracts last September and did the same for its US options at the end of February.

September 12, 2008

Foreign Exchange

Barings launches alpha fund

Baring Asset Management is planning on launching the Baring Alpha Currency Fund, subject to regulatory approval. The fundamental, macro, long/short strategy, due for launch in October, will aim to provide high absolute returns that are expected to be uncorrelated to equities or bonds.

September 12, 2008

Foreign Exchange

FXCM adopts Traiana NetLink

FXCM has decided to use Traiana NetLink to consolidate the thousands of small deals transacted on its platform prior to processing in its liquidity providers’ back offices. The service is now live with three banks; FXCM intends to use it in the coming months to process up to 300,000 tickets per day with more of its counterparties. The company says it is hoping for ticket compression ratios of 95% or more.

September 12, 2008

BANKING

Exclusive: CME to withdraw from FXMarketSpace?

UPDATE: CME and Thomson Reuters confirm closure of FXMarketSpace

September 11, 2008

Exclusive: CME to withdraw from FXMarketSpace?

Exclusive from the weeklyFiX:

September 11, 2008

The 2008 guide to Liquidity Management

Published in conjuction with: Citi, J.P. Morgan, HSBC, Standard Chartered

September 11, 2008

CAPITAL MARKETS

Bond Outlook September 10th

This week we dare consider the moral implications of the GSE bailout, as well as reviewing the financial impact. Pity the next generation as they will pay the price.

September 10, 2008

Foreign Exchange

People moves: Mandell returns to the market

The Royal Bank of Scotland (RBS) has announced the hire of Chris Mandell as its head of FX and local markets trading for the Americas. She will be based in Greenwich, Connecticut and RBS says the hire completes the senior management team for its sales and trading business in the US.

September 09, 2008

BANKING

BlackRock Considers Active ETFs

BlackRock is considering its own line of exchange-traded funds. Robert Kapito, president, said that BlackRock is researching actively-managed ETFs but has not yet committed itself to the space. Kapito said that BlackRock will only consider active ETFs and is not interested in passive ETF strategies because the firm believes that active management benefits investors. Kapito did not discuss a time frame for a decision on active ETFs.

September 09, 2008

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