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Through our financial strength, expertise and established infrastructure, we provide superior FX liquidity and a full range of FX services. We offer this through direct relationships with many top-tier banks, regional specialists, select non-banks and three prime brokers.
Our in-house experts provide a personal service, customising liquidity pools and solutions to suit your needs, and our specialist teams in London and Hong Kong provide round-the-clock support. Our clients can monitor their positions with our real-time FX trade and risk-reporting portal. Our product offering includes FX spot, forwards, swaps, OTC options, NDOs, NDFs and deliverable FX, across multiple execution venues. We also offer third-party credit intermediation, direct ECN access and FX clearing.
We provide customised eFX solutions to a wide variety of global institutions, including banks, hedge funds, proprietary trading firms and retail brokers. We offer superior liquidity through our relationships with top-tier banks, regional specialists and select non-banks who offer a true risk price. Our scale and position in the markets means we can offer individually tailored competitive pricing, minimising your trading costs.
OTC FX options have traditionally been dominated by primary-dealer banks and a small number of inter-dealer brokers. Electronic access to truly competitive pricing and independent pre-trade analytics has been limited, until now.
We provide an extensive deliverable product offering, with same-day payments, together with forward FX hedges, flexi-forwards, and time options, covering a comprehensive spectrum of currency pairs. You can control how and when you execute transactions through market, limit or stop loss orders by voice or through one of our electronic solutions, all with highly competitive pricing. In addition, our 24-hour service and your own account manager mean you can manage your FX risk at any time of day.
Monthly commentary covering the FX markets, providing insights on recent developments on select currency pairs. As attention focuses on major economies' central banks for signs of the onset of monetary easing, significant activity is unfolding in Central Europe, where policymakers have already begun to lower borrowing costs. These shifts in monetary policy are mirrored in currency fluctuations against the euro, with the Polish Zloty (PLN) emerging as the top performer against the euro over the past six weeks. Meanwhile, the Czech Koruna (CZK) and Hungarian Forint (HUF) have been among the weakest. With market forecasts anticipating the European Central Bank's initial interest rate reduction in June, what does the next month hold for the currencies of the Visegrad Group countries?
During the last quarter, the markets expected the Fed to begin a cutting cycle, which caused the dollar and Treasury yields to decrease. This, along with predictions of China's recovery in 2024, boosted the prices of base metals by the end of the year. However, in Q1, the situation has changed. The US economy has shown robustness in terms of the labour market and consumer performance, which has led the market to price in the probability of cuts further down the curve. Additionally, despite continued support from the government, Chinese pessimism has yet to subside. In the upcoming months, macroeconomics will continue to play a crucial role in driving the day-to-day momentum, particularly in the aluminium and copper markets. Structural and cyclical indicators will also come into play when assessing the path for base metals performance. COT positioning, spreads, and stocks will drive the general price trend in the first half of the year while anticipating an economic recovery and easing monetary policy pressures in the latter half of the year.
Read our short coffee crop update, with commentary on recent price activity, and coffee market forecasts to take advantage of market movements. The coffee industry witnessed turbulent prices last year, affecting both Arabica and Robusta contracts. The industry remains reliant on Brazil and Vietnam, accounting for 58% of the total blend. Although the weather is still a concern, we believe that most of the damage has been done, and the expectations of a super crop are likely to fade. In our view, there is no shortage of coffee overall, but there are gaps in certain regions creating uncertainty regarding coffee accessibility.