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Foreign Exchange

Volumes ease in December after stonking year

After another bumper year in FX, volumes inevitably came off in December. Average daily spot volumes on Icap’s EBS platform fell 16%, compared with December 2007, to $126.2 billion. However, over the course of the year, average daily volumes rose 18% to $214.5 billion. Meanwhile, The CME has reported that an average of 624,000 FX contracts changed hands each day, up 10% on 2007. In notional terms, this equated to $85 billion.

January 09, 2009

Foreign Exchange

Saxo buys Danish stockbroker

Saxo Bank has bought the Danish stockbroker Sirius to strengthen its position in the private wealth arena. Sirius will operate as a subsidiary of Saxo Bank.

January 09, 2009

Foreign Exchange

People moves: Société Générale appoints Global Head of Flow FX Sales

Michael Burton has joined Société Générale Corporate & Investment Banking as its global head of flow foreign exchange sales. The bank says he will be tasked with overseeing the growth and development of its non-corporate client business and promoting product synergies within the fixed income, currencies and commodities, and global equities and derivatives teams.

January 09, 2009

Foreign Exchange

People moves: Henderson boosts currency presence

Independent asset manager Henderson Global Investors has announced the hiring of an established FX team, a move it says that recognises the importance of currency as an asset.

January 09, 2009

Foreign Exchange

People moves: Hotspot boosts in sales

Hotspot FXi has hired Joseph Gelsomino as director, institutional sales. Gelsomino previously did a long stretch at AIG Financial Products. He will be based in Jersey City and report to Christopher DeFilippo, the company’s global sales head.

January 09, 2009

BANKING

ECB faces new collateral challenge

Banks test ECB rules as their supplies of repoable ABS run dry.

Louise Bowman, January 09, 2009

BANKING

DCM review: Winners were also losers in 2008

The primary market share of the top 10 global debt houses declined considerably in 2008, according to full year figures released by Dealogic. The impact of the financial turmoil, far from concentrating activity in the hands of the biggest players, is apparently leveling the field.

Clive Horwood, January 08, 2009

CB Richard Ellis targets the Netherlands

Logistics: Everything in its proper place

Laurence Neville, January 07, 2009

BANKING

Cash management debate: Know who your friends are

As in all other areas of financial services, the credit crunch has made its presence felt in international cash management. Banks and corporates have found their relationships and business practices severely tested and have found out who they can, and cannot, trust in a downturn.

January 07, 2009

Asset management: Investors stick with real estate through the bad times

Over the past five years the world’s biggest investment management firms have increased allocations to property, propelling the asset class into the mainstream. Now the sector has stumbled, will they desert? Rachel Wolcott speaks to the largest asset managers active in real estate.

Rachel Wolcott, January 07, 2009

Malaysia fights to keep contagion at bay

So far, the country’s economy has not been hit by the global downturn but analysts have been predicting trouble for some time. The country’s real estate sector will probably not escape unscathed. Philip Moore reports.

Philip Moore, January 07, 2009

BANKING

Reits revival talk may just be whistling in the wind

Reits have taken a severe beating as property prices have tumbled. Yet there is little agreement about where the bottom of the market lies. Reits cheerleaders are still talking up their recovery prospects, but is talk of a renaissance premature? Julian Marshall reports.

January 07, 2009

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