The Wall Street Journal is reporting that Citigroup Inc. (NYSE:C) has appointed Danny Wise as European head of G-10 foreign exchange trading in London, according to people close to the matter. Mr. Wise, who starts at the bank Monday, left Credit Suisse in May as part of a cost-cutting plan. The appointment of Mr. Wise…
Read moreLeapRate Managing Editor Andrew Saks-McLeod takes a look at the correlation between investing in the future and corporate performance in a fluctuating year-to-year business
Read moreMonthly volume is down at Saxo Bank for July to $215bn from $228bn in June, a 5.7% drop. Average daily volume also fell to $9.8bn per day, from $10.8bn in June. This has been the second weakest month in terms of volume this year for many brokerages and exchanges across the FX industry, besides April's…
Read moreCLS, which operates the largest multi-currency cash settlement system to mitigate settlement risk for the FX transactions of its members and their customers saw a fall back in volume activity for July. Alexander Filshie, Chief Financial Officer, CLS: ”The average daily volume submitted to CLS in July 2014, combining the settlement and aggregation services, was…
Read moreFXStreet News is ranked top worldwide among Twitter users of currency-market analysis, according to data compiled by Bloomberg based on followers, retweets and frequency of posts being tagged as a ‘favorite’.” This is part of an article published this week in Bloomberg News regarding FXStreet and its influence in foreign-exchange markets. FXStreet has been mentioned as…
Read moreWinner of the ‘Best Financial Services Provider 2014’, TradeNext has built on the experience it has garnered from working in India and the emerging markets and has subsequently expanded its expertise to enhance its client offering.
Read moreTraders overall have been lamenting the low volatility, low volume environment seen in 2014, but FX traders in New York have been especially downbeat, with good cause. Semi-annual central bank FX volume data, released earlier this week from the the Foreign Exchange Committees in North America, UK, Canada, Australia, Singapore and Japan, confirmed that daily…
Read moreWhat is meant by 'monitor' and how exactly they will provide oversight or uncover unethical practices is not quite clear yet.
Read moreYou can see estimates on the average cost of liquidity when trading different currency pairs, and choose the most favorable times to trade based on your deal size.
Read moreA quick note on the sentiment of traders coming from futures data from the CME reported by the CFTC. Traders are bearish EUR, JPY and CHF, with net positions of ‐$10bn, ‐$8bn and ‐$1bn, respectively and bullish GBP, AUD, MXN, NZD and CAD; with net positions of $4.5bn, $3.4bn, $2.7bn, $1.3bn and $1.0bn. However, Camilla Sutton, Chief FX strategist at Scotiabank commented that this week’s data is interesting as it provides the first warning signal for EUR bears and GBP bulls as the EUR short position failed to build and traders began to close out GBP longs. These crowded positions in EUR and GBP could signal an uptick in trading activity this week as there…
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