Hong Kong Exchanges and Clearing (HKEx) is set to introduce the world’s first deliverable USDCNH future contracts in September.

Nomura is set to increase its focus on FX index options, basket-style hedges and specialized investments for hedge funds through a new FX correlations business launched recently, says global head of FX options Nigel Khakoo.

The week began with a bang as CME Group – the world’s largest derivatives and futures trading platform – announced it was launching a push into Europe.

The value of all global FX product volumes transacted in the market grew 12.5% in 2011 to $199.7 trillion, up from $177.4 trillion in 2010, according to the latest figures from the annual Euromoney FX Survey.

Decreasing demand for European currencies that lie outside of the eurozone suggests that investors have increased faith that policymakers within the currency union can resolve the region’s debt problems.

Nomura has promoted a former Deutsche Bank and Lehman Brothers veteran to lead its currencies business.

All hedge fund strategy areas registered positive returns in July for the first time since February, according to EuroHedge, a sister publication to EuromoneyFXNews.

The decline in the dollar amid heightened expectations of a further round of quantitative easing (QE3) from the Federal Reserve might create a buying opportunity in the US currency.

The world’s leading investment banks saw less revenue flow through their books from FX trading in the first six months of this year, amid tightening spreads and reduced market volatility, according to consultancy firm Coalition.

More FX market inter-dealer brokers (IDBs) are set to engage MarkitServ – the electronic trade processing provider – for voice-trade affirmation, regulatory reporting and clearing services for FX transactions, according to company FX co-head Keith Tippell.

Retail FX volumes were hit hard last month and are expected to remain at low levels, mirroring the decline in activity across the industry, according to LeapRate, the online forex analysis firm.

CME Group’s plans to launch a new derivatives futures exchange in London – the company’s first European offering outside of clearing – have come under fire from several buy-side FX trading firms, which claim it might struggle to attract FX futures market liquidity.

Oanda, one of the leading retail FX brokers, is not planning on launching an initial public offering (IPO) any time soon, despite the business recently recording a landmark one-billionth currency trade transaction, says Oanda Europe managing director Antony Broadbent.

Citi has hired a former RBS emerging market options trader, according to people familiar with the situation.

Investment banks active in FX trading are underestimating principal risks and other transaction risks tied to the market, warns the Bank of International Settlements.

CME Group will begin trading FX futures products in Europe from mid-2013 as part of a new London-based derivatives exchange, the company announced on Monday.

JPMorgan has warned that the FX market is pricing in an environment that leaves no margin for error on data or policy during the next two months.

Those expecting a third round of quantitative easing (QE3) from the Federal Reserve to undermine the dollar are likely to be disappointed, writes Peter Redward, principal at Redward Associates.

For months, China’s authorities have been telling the market they believed their currency had moved towards equilibrium, yet forward rates seemed to continue to reflect the expectation of further CNY appreciation. That’s all changed in recent weeks and there has been a massive move to the right in RMB forward curves. Can it continue?

The treasury divisions of banks and other financial institutions running large FX market positions are poised to assume a larger role in the management of the trading business, according to a report released on Friday.

A summer slowdown is not normally something to get the pulse racing, but this year it comes with a twist.

Nomura has hired a former RBS FX options trader, according to two people familiar with the matter.

Figures from the US Treasury do not show any surge in buying of US assets in June but reserve managers have stepped up their USD purchases.

Icap, the world’s largest inter-dealer broker, is restructuring its voice-broking division in an effort to reflect the global nature of its electronic and post-trade divisions, the company announced on Thursday.

Morgan Stanley’s chief operating officer of foreign exchange has left the firm, according to sources familiar with the situation.

A Morgan Stanley FX salesman has left the bank to join a French rival.

CLS, the multi-currency cash settlement system for the FX markets, has appointed a JPMorgan and State Street veteran as its new chief executive.

Brevan Howard, Europe’s second-largest hedge fund, is trying to raise money for its currency fund in the US.

It is too early to buy pro-cyclical currencies as another market riot cannot be ruled out, says BCA Research, one of the world’s leading independent providers of global investment research.

Nomura has hired a new managing director and head of fixed income for Europe, the Middle East and Africa (EMEA).