FX-MM magazine blog

An alternative look at the trading, treasury and technology world…

Japanese flag

Japan: A Tortuous Path towards Economic Recovery

16 February 2012
The Bank of Japan certainly seems concerned. In a move that surprised the markets, the BOJ earlier this week committed itself to increasing purchases of government bonds, and set a national price inflation target of one per cent, as it responded to growing political and corporate anxiety over weak levels of economic growth, persistent deflation, and a strong yen...

Foreign Exchange - The Complete Deal, by James Sharpe

Foreign Exchange: The Complete Deal

13 February 2012
We don’t often do book reviews at FX-MM but last week we were sent a copy of “Foreign Exchange: The Complete Deal” by James Sharpe (Harriman House £34.99) and decided that we’d take a look at it....

Map of Brazil on globe

Brazil’s real dilemma

2 February 2012
Largely unaffected by the sovereign debt crisis which has been dragging Europe into the abyss, the Brazilian economy continued its seemingly inexorable rise last year, surging past Italy and the UK to become the sixth largest in the world. But testing times could be ahead in 2012...

CitiVELOCITY 2.0 Screenshot

Citibank launches CitiVELOCITY 2.0

26 January 2012
FX-MM look at CitiVELOCITY 2.0, the latest version of Citibank’s highly successful single-dealer trading platform...

Trading graph

10 Trends in Electronic Trading for 2012

17 January 2012
The trading landscape continues to evolve, becoming more fragmented and regulated. This is creating challenges for trading firms seeking new revenue opportunities without incurring extra costs. Bob Santella of SunGard identifies 10 trends that are likely to shape electronic trading in 2012...

2011 2012 street signs

Financial recovery stalls in 2011 but will 2012 be any better?

4 January 2012
James Hickman, MD of Caxton FX, looks back at the events of 2011 and what might be in store for 2012...

Steam pressure gauge

The Chinese economy is losing steam

15 December 2011
As the uncertainty about the outcome of the eurozone sovereign debt crisis continues, China’s export markets have been gradually drying up. Because of falling demand, growth in the manufacturing sector is lagging...

Trading screen

10 trends in OTC derivatives for 2012

7 December 2011
With regulatory changes transforming the OTC derivatives space, market participants needing to manage large volumes of data and new pressures on the cost and the more effective use of capital, we've identified 10 trends for 2012 in the OTC derivatives landscape...

SEPA / Euros

Eurozone Crisis continues

2 December 2011
This week saw the rally of the Euro off the back of the fairly successful bond auctions of Spain and France...

France-french-flag-euro

Eurozone crisis – is France part of the solution or part of the problem?

24 November 2011
The eurozone crisis became even more critical this week with France’s AAA credit rating now under serious threat and an auction of German 10 year bonds failing to be fully taken up...

Companies unprepared for risks

UK corporates need to hedge risk to avoid worst impact of eurozone debt crisis on export strategies

22 November 2011
The euro-zone debt crisis is continuing to pose the biggest single risk to domestic recovery in the UK. The impact on trade data in particular is providing cause for concern as demand from the euro-zone, Britain's biggest trading partner, seems unlikely to hold up. As Trevor Williams, economic advisor at Lloyds Bank Corporate Markets and working closely with the Transaction Banking team, comments...

SEPA / Euros

Are markets overreacting to fundamentals or to the media’s latest hype?

11 November 2011
Volatility has once again disrupted our global trading markets, driven by uncertainty most notably generated in Europe’s futile attempts to resolve its present debt crisis. However, volatility is not necessarily a bad thing. Equities had their best month in quite a while during October, and hedge funds have recently reported a banner month as well...

Eurozone inflation rises

Italy takes centre stage

10 November 2011
The euro has continued to come under pressure in recent days as a result of the re-focusing of attention in the debt crisis from Greece to Italy. This week Italian 10 year debt yields increased to a record high of 7.48% as investors shy away from a country which looks ever more likely to be unable to repay its debts...

Brazil Flag

A lesson from abroad: pre-trade risk in Brazil

4 November 2011
Thanks to some very competitive exchange prices for day trading, the high frequency trading (HFT) community has started to set up shop in Brazil. Current estimates suggest that five percent of trades on BM&FBOVESPA can be attributed to high frequency traders and, with a policy in place to attract more, that number is set to increase.

Microgen Logo

Ring-fencing: the technology impact

3 November 2011
Regulators were unable to step in and avert the financial crisis in a timely manner because neither they, nor many of the banks, were able to accurately qualify the potential risks held. In the aftermath, there has been an ongoing debate as to whether the investment and retail arms of UK banks should be ‘ring-fenced’...