Foreign exchange

The intrinsic currency valuation framework

Introducing the concept of the intrinsic value of a currency, Paul Doust shows how to use foreign exchange market volatilities to calculate the volatilities of intrinsic currency values and the correlations between them

A Five-Year Plan

In an ambitious project, HVB Americas is cutting trade exceptions, consolidating its data warehouse and automating a raft of manual processes.

BoA makes London rates hire

Bank of America (BoA) has hired Nicholas Dechosal, former head of derivatives, short-term interest rates and forwards trading at Rabobank Utrecht, in London.

HSBC provides clients with forex charting tools

HSBC has begun rolling out a web-based currency data charting application from UK vendor TraderMade to its corporate and investment clients. The application, called FX Charting, will support trading and hedging strategy decisions.

AIB repays €26m for overcharging

Allied Irish Banks (AIB) said it is repaying €26 million ($32 million) it overcharged clients on three million FX deals, after a regulator slammed the bank in a report last week.

IASB to create advisory group

The International Accounting Standards Board (IASB) is investigating the establishment of an advisory forum, following comments from euro official Frits Bolkestein last month that standards for the treatment of derivatives are still unsuitable for…

Calculating transfer risk using Monte Carlo

Marco van der Burgt constructs a model of emerging market transfer risk based on a country’s foreign exchange reserves that is combined with facility-dependent risk factors that determine counterparty exposure in the event of a moratorium. He then…

FSA warns of treasury management flaws

LONDON - The Financial Services Authority, the UK regulatory body, has highlighted key areas of weakness in UK treasury management following a survey of banks and building societies.

Philippines SEC drafts FX reporting guidelines

PHILIPPINES - The Philippines' Securities and Exchange Commission (SEC) last week announced draft guidelines on the preparation of foreign currency-denominated financial statements for corporations in the country.

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