Articles by FX Markets Staff
Plimsoll adopts Aegis aggregator
CHICAGO Plimsoll Capital will begin exclusively using Aegis Software's AthenaTrader on August 13 to perform spot FX trades on its Armada High-Frequency FX Program fund.
Morgan Stanley names sales heads
NEW YORK – Morgan Stanley has appointed two new FX sales heads, a spokesperson at the bank has told FX Week .
WMBA head speaks on best execution
LONDON – A potential solution to proving best execution in FX options and ancillary services is to reclassify the individual client, according to David Clark, chairman of the Wholesale Markets Brokers' Association (WMBA).
Safeguarding against carry correction
It would be prudent to protect profits from a potential correction of recent carry trade trends, says Ian Stannard , Senior Currency Strategist at BNP Paribas in London
ETrade to launch US retail FX trading
NEW YORK – Electronic broker ETrade will make FX trading available to US retail investors in five currencies via its Global Trader platform by this Friday (July 27). GlobalTrader has been piloting since February ( FX Week , February 26).
CME to launch on Swapstream
The Chicago Mercantile Exchange (CME) plans to launch a centrally cleared interest rate swap product on its electronic swaps platform Swapstream, from the first quarter of 2008.
Safe abolishes Chinese export reward scheme
BEIJING – China's State Administration of Foreign Exchange (Safe) has abolished a reward scheme that encourages Chinese exporters to repatriate a portion of their foreign currency earnings, signifying a further step in the country's efforts to ease…
Dresdner boosts global sales and trading coverage
LONDON & NEW YORK – Dresdner Kleinwort is expanding its sales and trading coverage across London and New York with hires from Dutch rival ABN Amro.
GL Trade acquires Infotec in forex push
PARIS – Technology vendor GL Trade has purchased Infotec, a Swiss real-time market data vendor, to extend its coverage of products and increase its buy-side presence. Infotec's FX trader and treasury management users will in turn use GL Trade's order…
The agnostic tendencies of aggregation
Last week in New York, we hosted the annual FX Week USA congress. One of the recurring themes during the day was aggregation and its implications for the industry.
Market expands on rising international investment
NEW YORK – Surging international investment has fuelled expansion in the FX market, heard delegates at the FX Week USA congress in New York last Tuesday (July 10).
Icap speeds up FX data feed
LONDON – Interdealer broker Icap last week (July 11) announced it had improved its EBS Live spot data feed by reducing processing and communication latency.
VWD switches FX providers to Tenfore
FRANKFURT – Data vendor VWD Group is to replace FX data provided via its internet- and terminal-based data products with new data sourced from UK-based Tenfore Systems' Tenforex feed, officials said.
JPM designs emerging market FX carry index
LONDON – JP Morgan has extended its range of investable currency index products, with the creation of an index that seeks to exploit the carry trade in emerging market currencies.
CME prepares to handle increased trading volume
NEW YORK – The Chicago Mercantile Exchange (CME) plans to add additional servers and lanes to handle increased exchange-traded volume, according to a presentation on technology bottlenecks in the global FX market at the FX Week USA conference in New York…
GFI installs temporary management structure
NEW YORK & SINGAPORE – Interdealer broker GFI has introduced a temporary management structure in light of the recent departure of Michel Everaert, London-based chief information officer for e-commerce.
DEALHub to launch netting service
NEW YORK – Post-trade technology vendor DEALHub is planning to launch a pre-operations netting service for the interdealer market, to manage back-office capacity constraints brought on by the rise in FX trading volumes.
Parker index rose in May
STAMFORD, CONNECTICUT – The Parker FX Index reported a 0.30% return for May, with 44 programmes reporting positive results and a remaining 35 incurring losses.
UBS distribution teams hit by senior departures
LONDON & SINGAPORE – UBS has been hit by senior departures in its distribution teams in London and Singapore, with at least three headed for Deutsche Bank.
Algos annihilate platform favouritism
NEW YORK – Algorithms are making trading on FX platforms agnostic, according to a panel discussion at FX Week 's USA congress in New York last week (July 10).
Expert hails algo trading
NEW YORK – The rise of algorithmic trading has significantly improved the health of the FX market, according to a keynote address at the FX Week USA congress in New York last week.
CME/CBOT merger terms agreed
CHICAGO – Shareholders of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) agreed an $11.9 billion merger deal last Monday (July 9), ending CME's long-running battle with the IntercontinentalExchange (Ice) for control of CBOT.