Post-trade

City Index drops three in London

LONDON - Retail trading company City Index laid off three foreign exchange staff from its margin FX provider, IFX Markets, in London last Thursday (October 16), as it integrates the FX business with recently acquired FX Solutions.

BarCap picks Caplin for rates

LONDON - Barclays Capital has signed a contract to purchase web-based application Caplin Trader for its fixed-income electronic commerce system.

JDFX gets smart with Kontrol

ZURICH - Foreign exchange trading company JDFX has capitalised on an increasing focus on risk management within financial markets by launching Kontrol, a system built to eliminate inefficiencies and dangers caused by calculating risk several times a day…

Decline continues on Parker FX

STAMFORD, CT - The Parker FX Index made a loss of 0.73% in August, falling further from a negative 0.11% the previous month, as the sharp appreciation in the US dollar caught out 60% of managers.

FXMPG tackles FX practices

BRUSSELS - The Foreign Exchange Market Practice Group (FXMPG) plans to hold its first meeting in January, to begin establishing global market practice for foreign exchange activities.

RealStream Margin revamped

LONDON - Cognotec is set to roll out the latest version of its web-based margin trading system, RealStream Margin 3.0, in response to market demand for efficiency and enhanced risk management products.

Cutting costs

Pat Lefler, director, product marketing, at Wall Street Systems in New York, looks at ways smaller banks could reduce their trade-processing costs and remain competitive

Iosco turns spotlight on commodities

WASHINGTON, DC - The US Commodity Futures Trading Commission (CFTC) and the UK Financial Services Authority (FSA) are to lead an international regulators' group overseeing the commodity markets.

Gold rush on Lehman's European FX team

LONDON - Dealers are willing to pay top dollar for Lehman Brothers' foreign exchange team in Europe, following the failure of administrator PricewaterhouseCoopers (PwC) to agree a sale of the defunct bank's European fixed-income unit last week.

Saxo Bank cuts 400 jobs

COPENHAGEN & LONDON - Saxo Bank is today (September 29) shedding up to 400 jobs globally as part of plans to streamline its business, officials tell FX Week .

Citi gains BoC Hong Kong for CLS

HONG KONG - Bank of China (Hong Kong) (BoC HK) has signed an agreement to use Citi's Global Transaction Services as its continuous-linked settlement (CLS) nostro agent for US dollar.

JPM offers new FX platform

LONDON - JP Morgan last week launched MorganDirect, a new proprietary foreign exchange trading platform that will eventually replace the incumbent JPex system.

OCBC cashes in on Asian DCR growth

SINGAPORE - OCBC Bank expects to see 20% growth in its dual currency returns (DCR) business in Singapore next year, following implementation of a structured deposit pricing and processing system from FinIQ, said bank officials.

Swedbank signs on to Aleri's LMS

STOCKHOLM - Swedbank has become the latest dealer to introduce a liquidity management system (LMS), selecting Aleri's LMS technology to manage liquidity risk across all asset classes.

Lehman derivatives trading 'light'

NEW YORK - The International Swaps and Derivatives Association's emergency trading session, held on Sunday, September 14 to reduce banks' exposure to Lehman Brothers, received a low response, said a New-York based official that participated in the co…

RBS and Simplex launch RBS Swift

LONDON - The Royal Bank of Scotland (RBS) has teamed with technology provider Simplex Consulting to launch an RBS Swift Service Bureau for corporates requiring outsourced services connecting to the Swift network.

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