Trading Systems
'Click and deal' key for funds
LONDON -- Providing clients with the ability to trade FX directly from live streaming prices could prove key for banks targeting a range of clients, said e-FX officials speaking last week.
FXall reaches profitability
New York – Multi-bank portal FXall now earns more than it outlays on a monthly basis, it said last week, over two years after its May 2001 launch.
Intesa bows out of London
LONDON – Banca Intesa, one of the last Italian banks still trading FX in London, closed its desk in April, becoming the latest of its compatriots to consolidate forex in Italy.
EBS prime brokers unveiled
LONDON – Deutsche Bank, JP Morgan Chase (JPMC) and Royal Bank of Scotland (RBS) will be the first prime brokers on a new interbank prime brokerage service from spot broker EBS.
Plimsoll steps into currency overlay
NEW JERSEY -- Summit, New Jersey-based fund manager Plimsoll Capital is moving into currency overlay, and expects to secure its first clients this quarter, a senior official told FX Week .
More prime brokers take to web
LONDON -- Automation of the prime brokerage industry is well underway, with a host of new services set to hit the market in the coming months.
White-label trend takes root
LONDON -- The liquidity outsourcing industry is reaching a crucial stage in its development, according to bankers, vendors and analysts polled by FX Week .
White-label trend takes root
LONDON -- The liquidity outsourcing industry is reaching a crucial stage in its development, according to bankers, vendors and analysts polled by FX Week .
Emerging markets boost HSBC’s profits
LONDON -- A strong performance in emerging markets FX helped HSBC to its biggest-ever yearly forex profits, an official said last week. The bank made $1.17 billion from forex in 2002, up by 4% from $1.12 billion the year before. Based on banks’ financial…
Zero-coupon woes for DZ
FRANKFURT -- DZ Bank, the largest central co-operative bank in Germany, has announced e140 million losses from its zero-coupon interest rate swaps positions due to a mis-keying error.
360T targets more price providers
FRANKFURT -- Multi-bank, multi-asset trading platform 360T expects to have 30 banks connected to its system by year-end, a senior official at the Frankfurt-based firm told FX Week .
Shareholders ousted Mirek
NEW YORK -- Lori Mirek, the recently-departed chief executive of multi-bank portal Currenex, was ousted by the firms’ shareholders, FX Week has learned.
All change at Currenex
LONDON -- FX trading portal Currenex announced last week that the firm’s chief executive Lori Mirek has stepped down.
Portals prepare for crucial year
LONDON -- The coming year will be decisive for multi-bank foreign exchange, according to industry participants polled by FX Week .
January - Prime brokerage kick-starts the year
From the Allfirst Financial scandal to the launch of CLS, you read it here first in 2002. FX Week reviews the top news stories of last year
October - Multi-bank evolution continues
Multi-bank evolution continues
FX Week 2002 award winners
More than 1,000 banks, corporate treasuries and investors voted in our 2002 survey. Winners are listed below and split in to two pages from the links below. The Winners are pictured at the awards dinner held in London on November 21.
March - Atriax sunk by failed merger talks
Atriax sunk by failed merger talks
eB2C relationships prosper
LONDON -- Bank-to-client relationships remain vital despite the march of electronic trading in forex, heard delegates at the inaugural FX Week Congress last week.
Reuters reasserts forex dominance
UK trading technology and information firm Reuters may be having a difficult year, but its forex business is booming, according to FX Week ’s 2002 survey.
Sungard coup for FXConnect
LONDON -- State Street Corporation is to announce this week it has secured a coveted deal with UK treasury software firm Sungard.