http://www.automatedtrader.net/news/algorithmic-trading-news/15924/barclays-capital-launches-enhanced-fx-algorithmic-trading
Barclays Capital, the investment banking division of Barclays Bank PLC, has announced the launch of PowerFill+, a suite of online foreign exchange tools providing clients with order management and access to deeper liquidity. This new functionality on BARX, the firm's electronic trading platform, is free to use, providing execution capability without brokerage fees.
The main feature of PowerFill+ is that it allows clients to anonymously work bids and offers. The best bid/offer forms part of the price that users see, which is intended to enable BARX to provide all clients with tighter spreads and deeper liquidity.
"Traditionally, platforms offering this level of order functionality charge their clients fees, but PowerFill+ is brokerage free," said Tim Cartledge, Head of BARX FX Trading at Barclays Capital. "Zero brokerage plus Barclays Capital's certainty and depth of liquidity, coupled with the extra liquidity resulting from our clients' own orders, means we are providing clients with an optimal trading environment."
"PowerFill+ demonstrates Barclays Capital's commitment to providing clients with outstanding service and reinforces our position as a leader in market innovation," said Nick Howard, Head of Foreign Exchange and Emerging Markets Distribution at Barclays Capital. "This is a great addition to our BARX platform which is recognised globally for its reliability and stability with a proven track record during times of market volatility."
Thursday, September 10, 2009
Barclays Capital launches enhanced FX Algorithmic Trading
Treasuring Thrift: 'In Cheap We Trust'
http://www.npr.org/templates/story/story.php?storyId=112557219
Journalist Lauren Weber knows a little something about being cheap. When she was growing up, her father refused to set the heat above 50 degrees during the winter in New England.
He turned out the lights, even if someone had left a room for just a moment. And for a little while he even tried to ration the family's use of toilet paper. Seriously.
Rather than traumatize Weber, all that — and more — made her the perfect person to explore the roots of frugality in the United States.
Wednesday, September 9, 2009
Nobody Liking Dollar Deficits Makes Rogoff Favorite
No 'Performance Advantage'
The need for foreign investors may only increase in the final four months of 2009.
After purchases by the Fed, the net supply of long-term U.S. government and agency debt has been about $50 billion a month this year, Dean Maki, head of U.S. economics research at Barclays Capital in New York, wrote in a Sept. 4 report. As the Fed slows its so-called quantitative easing program, net supply may reach $200 billion by year-end, he wrote.
"In the broadest sense, the dollar tends to prosper when a unique U.S. asset attracts foreign buyers," such as high real yields in the early 1980s and the Internet boom in early 2000s, Steven Englander, the chief currency strategist at Barclays, wrote in a research note on Aug. 27. "There is no asset class in which U.S. assets have a clear performance advantage"
http://www.bloomberg.com/apps/news?pid=20601087&sid=aUzQTB9klLmM
Sunday, September 6, 2009
Thursday, September 3, 2009
Oldest Swiss Bank Tells Clients to Sell U.S. Assets or Leave
Sept. 2 (Bloomberg) -- Wegelin & Co., Switzerland's oldest bank, is telling wealthy clients to sell their U.S. assets, or switch banks, because of concerns new rules will saddle investors with tax obligations in the world's biggest economy.
U.S. proposals to extend reporting requirements for banks whose clients buy American stocks and bonds coupled with estate tax liabilities that may be inherited by the heirs of people who have such holdings prompted the advice from the St. Gallen, Switzerland-based bank, said Managing Partner Konrad Hummler.
"We came to the conclusion that it's a threat to our clients," Hummler, who is also president of the Swiss Private Bankers Association, said in an interview yesterday during a conference in Zurich. "It's also a threat to us as a bank because as a custodian we are an executor to the estate. We find this aspect discomforting, so we recommend selling all American securities whatsoever."
Hummler said he plans to raise the subject today at a meeting of the Private Bankers Association, which counts Pictet & Cie., Lombard Odier & Cie. and Mirabaud & Cie. among its members. Swiss banks, which manage $2 trillion, or 27 percent, of the world's privately held offshore wealth, are struggling to protect bank secrecy after the government agreed to hand over the names of 4,450 UBS AG clients to U.S. tax authorities.
Hummler said he wouldn't ask other association members to follow Wegelin's lead. Wegelin, founded in 1741, manages more than 20 billion Swiss francs ($18.7 billion) in client assets.
"Every member is free to decide and act on their own," he said.
http://www.bloomberg.com/apps/news?pid=20603037&sid=aguVgp1QqgEU
Sept. 3 (Bloomberg) -- HSBC Holdings Plc's Swiss private bank says more rich foreigners are inquiring about moving to Switzerland, spurred by rising taxes at home and concerns about the erosion of banking secrecy for non-residents.
Switzerland's decision to increase cooperation with the U.S. and neighbors such as France and Germany on tax evasion hasn't dulled the Alpine nation's allure for those who are able to take up residence, said Alexandre Zeller, chief executive officer of HSBC's Swiss bank.
"We're not talking about thousands of people because we're talking about people with a certain wealth, but it's significant," Zeller said in an interview in Zurich. "They come above all from countries which have substantially increased taxes. There's a direct correlation between taxes and the desire of a wealthy person to want to establish themselves elsewhere."
Switzerland is home to expatriate millionaires including seven-time Formula 1 racing champion Michael Schumacher, Ikea founder Ingvar Kamprad and singer Tina Turner. Wealthy residents who don't have Swiss income can negotiate individual tax deals with regional authorities in Switzerland.
Zeller said any Swiss banking client with a tax-compliance issue in his home country has three choices: do nothing, make a voluntary disclosure, or, if rich enough, move to Switzerland.
Beginning in April, the U.K. plans to levy a 50 percent income tax on people who make more than 150,000 pounds ($244,000) a year. Julius Baer Holding AG Chairman Raymond Baer said in an interview earlier this year that his bank remains attractive to Germans faced with unpredictable taxes. Most Americans remain liable for U.S. taxes even if they live abroad.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ae3NU.gekp.0
The incredible shrinking surplus
Is China deliberately understating the size of its trade surplus?
CHINA'S current-account surplus is seen by some as the root cause of the financial crisis. The good news is that after widening year after year it is now shrinking much faster than expected. In the first half of this year the surplus narrowed to $130 billion, one-third lower than a year earlier, and barely half its level in the second half of 2008. Not only has China's merchandise trade surplus narrowed, but investment income from China's stash of foreign reserves has also dropped. Arthur Kroeber at Dragonomics, an economic-research firm, predicts that the current-account surplus is likely to drop to 5% of China's GDP this year, down from 11% at its peak in 2007. Belatedly, China seems to be doing its bit to rebalance the world economy.
http://www.economist.com/businessfinance/PrinterFriendly.cfm?story_id=14363126
Yen Trades Near 7-Week High
Sept. 3 (Bloomberg) -- The yen traded near a seven-week high against the euro before a European report estimated to show retail sales fell in July from a year ago, adding to signs a recovery in the 16-nation region's economy may be slow.
The yen was also close to its strongest in seven weeks against the dollar as stocks slid for a second day in Tokyo, boosting demand for the relative safety of Japan's currency. The euro traded near its lowest level in two weeks versus the greenback on speculation European Central Bank President Jean- Claude Trichet will signal policy makers will keep interest rates low at today's meeting.
http://www.bloomberg.com/apps/news?pid=20601080&sid=aIPpoF5MLqU0
http://marketoracle.co.uk/Article13165.html The Euro dropped from 1.4376 until it reached and tested Fibonacci 61.8% support for the whole move from 1.4045 to 1.4405. The above mentioned Fibonacci support at 1.4183 will be the most important for the short-term, after it survived yesterday's test (yesterday's low 1.4176) , because a break of this specific support will open the door to a trial to find a new bottom below Aug 17th low 1.4045 within this week. Any attempt to go up will have to break through 1.4252 (short-term 38.2% Fibonacci Resistance), and if this attempt is corrective, it should not go higher than 1.4300, as we can surely say that this is the most important resistance for the moment.
Wednesday, September 2, 2009
Credit Suisse Investment-Bank Chief Calello Treated for Cancer
Calello, 48, "has begun an intensive program of treatment due to the development of a sudden and unexpected illness," the Zurich-based bank said in a statement yesterday. "Paul will remain as involved in the business as the course of treatment process will allow." Calello has cancer, according to a memo sent to employees. http://www.bloomberg.com/apps/news?pid=20601087&sid=aAUIIgVF7Sns
EES posts strategy to MT4 stats day before hack attack
As you might have noticed, MT4stats.com is currently not reachable or VERY slow.
This is because a lot of servers of the datacenter where MT4 Stats is hosted are under attack.
Server/IT specialists are fixing this now as I am writing this. Hopefully these so called people performing DDOS-attacks are gone very soon, or even better.. get caught.
That's it for now, so no need to worry about it!
MT4 Stats should be up and running again this same evening, during asian session or next morning at UK sunrise. I can not promise you this, it depends on all the IT people from the datacenter located in The Netherlands.
I wish you the best with trading tonight!
Cheers,
Hans
Webmaster MT4 Stats
Tuesday, September 1, 2009
Forex.com announces metals trading
We are pleased to announce that we will be adding spot gold and silver trading to the MetaTrader platform on September 1st, 2009, enabling clients of FOREX.com UK to trade metals alongside global currencies.
We will be sending a client notification email on September 2nd, 2009. A sample of the email has been included below for your reference.
Should you have any questions, please do not hesitate to contact your Relationship Manager or GAIN Capital Partner Services at +1.908.731.0724, or at partnerservices@gaincapital.com.
We're pleased to let you know that spot gold and silver are now available for you to trade on MetaTrader at FOREX.com.
Much like trading currency pairs, spot metals enables traders to take a long or short position in gold (XAU/USD) or silver (XAG/USD) while simultaneously taking the opposite position in the U.S. dollar. The spot metals markets are quoted and traded in a very similar way to currency pairs. Trading is available 24 hours a day from Sunday 11pm GMT through to 10pm Friday GMT.
Spot gold and silver trading is driven by several market factors that currency traders are likely already following, including the strength of the U.S. dollar and the price of oil.
Why trade metals?
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| Hedge against inflation - When inflation expectations are high or rising, gold and silver tend to appreciate while other asset classes may see values eroded by inflation. When inflation expectations are low, metals may languish. |
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| Alternative to USD - Historically, gold and silver are a "safe havens", a country-neutral investment. When the reserve currency comes under pressure, investors seek out other alternatives - like gold and silver. |
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| Safe haven vehicle - during periods of heightened risk aversion or market turmoil, gold and silver tend to appreciate as investors exit other financial assets (e.g. stocks and bonds) and flock to the traditional role of metals as a store of wealth. |
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Friday, August 28, 2009
Thursday, August 27, 2009
Forex Factory launches commercial forum, admits there were ‘flaws’ in old policy
BUYER BEWARE
Forex Factory has no affiliation with any product or service offered on the Commercial Forum, nor is an ensorement of any product or service being made. Please read the Forex Factory disclaimer.
Welcome to the beta version of the new Commercial Forum. This forum will contain threads that are dedicated to or started by commercial entities in the Forex industry.
If you've been a member of Forex Factory for a substantial amount of time you might be surprised to see a forum dedicated to commercial activity. For the past 5 years we've fought tooth-and-nail to keep commercial activity off the forums under the presumption that commercial agendas compromise the integrity of the forum discussions. In hindsight we believe this was the right policy, but it hasn't been without flaws. Often our strict policy forced us to do things that we didn't want to, such as banning long-standing valuable members because they started to offer commercial services. Some members were so valuable to the community that we allowed them to bend the rules, which only created more tension by setting up a double-standard. It's been long evident that a policy modification was needed to address these issues.
Earlier this year we came up with a plan for modifying the policies and member-structure to accommodate commercial operators. We haven't implemented the plan because we're busy with some big projects, and we still aren't ready to implement it. The Commercial Forum you are looking at is a temporary measure that resolves a few current issues; the rules, policies, and site changes for the Commercial Forum are still about 30-60 days from being announced. Our plan calls for creating two classes of membership, trader and commercial, then setting up separate forums and permissions that put up a one-way wall. Traders will be able to go into the commercial domain, but commercials will not interfere with the Traders' sections.
Because the Commercial Forum is a temporary measure, and the rules and procedures are not in place, there will be little clarity as to how we manage this forum and what the rules are. When we announce the new policy in 30-60 days the structure will be very clear. Please bear with us during this transitional period.
Fyi, it's not too late to influence our new policy! Please post your ideas here and they will definitely be taken into consideration!
http://www.forexfactory.com/showthread.php?t=184345
EES responds:
The paradox is the following:
Those who are "Forex Professionals" meaning anyone whose primary income is from Forex (regardless if you are a broker, trader, programmer, or secretary of a Forex company) have in many cases more knowledge than non-professionals. But professionals can basically only promote their own product, because it's what they feel is the best solution for Forex market. In other words, if someone asks a broker 'who is the best broker' he will probably say the company he works for, and what's wrong with that? Limiting discussion to non-professionals ends up being without the knowledge of pros. This should seem obvious but commercial products are seen as 'bad' where as amateur products are seen as 'real'. This stigma should be stopped, and this commercial forum is a step in the right direction. We can contribute our content including strategies for free to Forex Factory due to this significant change.
Link to commercial forum:
Monday, August 24, 2009
Testosterone-Charged Women Take More Financial and Career Risks
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aL1LRQuQcBf4
Testosterone-Charged Women Take More Financial and Career Risks
Aug. 24 (Bloomberg) -- The sex hormone testosterone, already linked to better performance among male stock market traders, may spur women to make riskier financial and career decisions, research showed.