Cutting Edge: Foreign exchange
Cutting Edge - Option pricing
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
Bankrupt financial services group Refco has failed to sell its foreign exchange brokerage, and its securities broking arm has been ordered to pay $122 million compensation to a Russian customer.
In an ambitious project, HVB Americas is cutting trade exceptions, consolidating its data warehouse and automating a raft of manual processes.
Derivatives dealers are focusing more on mid-cap corporates this year as an alternative to the arguably over-banked blue chip companies, say some market participants.
Bank of America (BoA) has hired Nicholas Dechosal, former head of derivatives, short-term interest rates and forwards trading at Rabobank Utrecht, in London.
Collins Stewart Tullett has merged the Group of Seven currency options desks of its Tullett Liberty and Prebon Yamane subsidiaries in London and Asia.
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.
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.
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…
National Australia Bank (NAB) has revised its pre-tax losses arising from unauthorised foreign exchange options trading to A$360 million ($277.4 million), double last week's initial estimate.
The Australia Prudential Regulatory Authority (APRA) is launching an investigation into the risk management controls at National Australia Bank's (NAB) treasury division.
Mark Snyder, US bank State Street’s global head of currency and money market sales and trading, has been appointed chairman of the Foreign Exchange Committee, a trade body.
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…
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 - 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.