Articles by FX Markets Staff
Wall Street rebrands to expand forex business
SYDNEY – Wall Street Systems has rebranded to reflect the growing importance of foreign exchange to its business.
Citigroup launches custody services in Sweden
STOCKHOLM – Citigroup's global transaction services business is to provide direct custody and clearing (DCC) services to clients in Sweden.
FX volume to exceed $3 trillion by 2007: TowerGroup research
NEEDHAM, MASSACHUSETTS – Global FX daily average volumes will reach $3.6 trillion by 2007, according to research released last week.
Gain Capital attacks markets with NinjaTrader
BEDMINSTER, NEW JERSEY – Forex trading company Gain Capital last week signed a deal with software vendor NinjaTrader to deliver real-time forex pricing and execution services to its customers.
Currenex launches catalyst program
NEW YORK – Trading technology vendor Currenex has launched a testing program for third-party software vendors to aid in the development of new products.
SwapsWire volumes nearly double
Electronic confirmation service SwapsWire nearly doubled volumes since February, last month.
Real strength set to continue
Gray Newman, senior Latin American economist at Morgan Stanley in New York, says that the Brazilian unit will be supported by interest rates and continuing growth
BoNY relaunches forex website
NEW YORK – Bank of New York (BoNY) has relaunched its FX website with an upgraded version of the interactive Portfolio Flow Monitor (iPFM), the bank's capital flow product.
Vwd expands Tullett package
FRANKFURT – German data vendor vwd has expanded its Data Manager Treasury end-of-day FX and money markets data package with extra information from Tullett Prebon Information, the data arm of broker Collins Stewart Tullett.
TradingScreen upgrades its software to give users new hedging capabilities
NEW YORK – Forex technology vendor TradingScreen has introduced FX trading capabilities designed to give users the ability to hedge secondary forex exposure generated by trading in other asset classes.
Return to volatility brings relief for prop traders
GLOBAL – Last week saw the first significant market volatility for nearly two months as euro/dollar saw its first move out of a 1.26–1.28 trading range for over 50 days.
Managing exposure to forex volatility
Manuel Deijk in the structured FX team at UBS looks at a selection of quantitative methods applied in the implementation of FX risk management policies
HUF makes a comeback
BUDAPEST – The Hungarian forint surged last week following positive market sentiment to a government announcement last Monday (October 9).
Regulator forces COESfx to close to new clients
PLAINVIEW, NEW YORK – COESfx, a US-based retail foreign exchange platform, was forced to close to new customers earlier this month after a regulator found that its books did not balance.
Flextrade to launch block trading platform
NEW YORK – Trading technology vendor Flextrade plans to launch the first block FX trading platform for the sell-side and buy-side next month, FX Week has learned.
Flextrade to launch block trading platform
NEW YORK – Trading technology vendor Flextrade plans to launch the first block FX trading platform for the sell-side and buy-side next month, FX Week has learned.
Bank of China broadens CLS horizons
HONG KONG & BEIJING – Bank of China (BoC) has become a shareholder in CLS Group, as the world’s largest emerging economy takes another step towards integration into global capital markets.
BIS: debt now bigger problem than inflation
BASEL – The main structural threat to global economic growth is no longer runaway inflation, but a slower rebalancing of excess debt, according to a working paper released by the Bank for International Settlements (BIS).
MarketSpace adds more participants
CHICAGO – CME/Reuters’ joint venture FXMarketSpace has signed a second group of banks, saying this indicates widespread acceptance from market participants.
Bumper September for CME
CHICAGO – CME recorded another record month for FX trading in September, with an average of some 520,000 contracts transacted per day, up 26% on the same period for 2005.
Asian expansion for Fimat
ASIA-PACIFIC & MIDDLE EAST – Fimat, the brokerage arm of Société Générale, is slated to use BT Radianz’ Proximity Solution in Asia to provide low-latency access to derivatives exchanges in Korea, Singapore and Japan.
'Boiler room' retail FX fraudsters face US court for high-pressure techniques
NEW YORK – The retail foreign exchange market suffered another blow at the end of last month, as 11 men were indicted by a US court on charges of ‘boiler room’ fraud.
UK business unprepared for hedging changes
LONDON – Medium-sized UK companies are unprepared for forthcoming rule changes on accounting standards that require more rigorous reporting of FX exposure, according to forex specialist HiFX.