Foreign exchange market participants with long memories will recall that Standard Chartered was once considered to be a trailblazer in the industry. In the early 1980s it was one of the first banks to start trading currency options; and for a time it was the institution that brokers in particular used to go to if they wanted any products based on the European Currency Unit, the artificial construct that was to evolve into the euro.
However, as the market started to consolidate into the hands of a few big players around the turn of the millennium, the perception grew that StanChart was a spent force, at least on a global scale. Many dismissed it as a bank that had been reduced to a niche player catering for its clients primarily in Asia, the Middle East and Africa.
Although admitting that there was an element of truth in this, Richard Leighton, StanChart’s global head of FX, is swift to point out that the bank is a player in the industry. "I was amazed by the obvious potential the bank had when I joined in 2004," he says. Before that, he had spent 10 years at the organization that became JPMorgan, having joined Chase Manhattan from Midland Bank to set up an FX exotic option trading desk.
You do not currently have access to this content, to gain access visit the subscription page or call our hotline on +44 (0)207 779 8999.
Are you already registered? If so, please enter your username and password here to continue.
Know your email address?
Click here for your password.
Questions about your subscription status?
Email us or call: +44 (0) 20 7779 8888
Subscribers to Euromoney benefit from:
- Exclusive access to euromoney.com - Read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 2000.
- 12 monthly issues of Euromoney magazine
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
Click here to subscribe
Because the financial sector is oversupplied with information, facts and figures and daily emails, you need one trusted source that will keep you updated on many markets. Reading Euromoney will save you time, save you money, help you spot new business opportunities and minimise risks to your existing operations.Every issue gives you a concise yet detailed update on the key developments from your specialist sector whilst keeping you informed of what is happening in other core areas.
Your free trial will bring you -
Exclusive interviews: Read what the best minds in the markets are thinking. Euromoney speaks to CEOs, Finance Ministers and Central Bank Governors so that you get first hand details behind the success or failure of the world's leading institutions and nations.
In-depth features: Get the detail, data and analysis behind the headlines that other financial press don't have time to provide. Our journalists give you the legal, regulatory and market considerations that are driving developments in the global capital marlets.
Market Insight: You get insight that data screens just don't give you. Our journalists based in the local markets, as well as the major financial centres, get you closer to the action. Helping you spot market trends, threats and opportunities, and sharing insights into the latest developments shaping the world you work in.
Don't miss out on this offer. Take a free trial today!
Click here to take a online trial