Infrastructure
Most innovative bank e-trading platform: BNP Paribas
BNP Paribas developers looked outside the world of finance for inspiration when developing Cortex FX, and the new platform’s functionality has won widespread plaudits from clients
Best professional e-trading venue: EBS
EBS wins the award in recognition of the thought leadership role it has taken in FX execution over the past year, which has won the support of many of the platform's users
Vendor e-FX initiative of the year: Traiana
Traiana's CreditLink product wins this year's award, having tackled an important layer of risk in the FX market, and enabled trading relationships to be terminated in real time on five occasions
Moscow Exchange to add more ruble products by year-end
The addition of new FX swaps and futures is expected to push further growth on the Moscow Exchange, officials say
‘Sef-lite’ environment remains confusing for platforms
Market participants still unclear on the implications of the requirement for multibank platforms trading non-cleared swaps to register as swap execution facilities
Business as usual for Hotspot under new ownership, says platform chief
Delivering technology to tackle client problems is central to the mission of KCG, the new parent company of Hotspot FX, according to Albert Maasland, head of global execution services and platforms
Thomson Reuters acquires Tradeweb FX options platform
Clients of the Tradeweb platform will migrate to FXall where they will get "more diverse access to liquidity", says chief executive Lee Olesky
FX clearing driven by capital and collateral costs rather than mandate
As mandatory NDF clearing has been delayed, the likely increase in capital and collateral requirements for FX trades is forcing some to consider clearing ahead of the mandate, say webinar participants
SurfacExchange faces uncertain future
Market participants report the multibank FX options platform that launched in mid-2011 has gone quiet in recent months following the exit of its chief executive
Options platforms struggling with dearth of liquidity takers
Some FX options platforms have struggled to gain traction in a new and untested market, but banks say the problem is one of low demand for, rather than provision of, liquidity
UniCredit eyes growth in institutional FX without e-commerce focus
As the Italian bank looks to extend its client footprint into the institutional space, further development of its FX platform is not a central part of the strategy
Traiana pitches for LCH’s FX clearing flow
Vendor adds ForexClear to Harmony CCP Connect, more than two years after it first launched the clearing network with CME Group as the first clearer
Aggregation hampered by predatory execution
New aggregation guidelines from EBS could help to increase transparency of aggregation, but the relationship between liquidity makers and takers remains strained
MarkitServ squares up to Traiana over pre-trade hub
Most participants believe the market will centre on one provider for pre-trade credit checking and clearing certainty - but both MarkitServ and Traiana hope to win the race
EBS takes aim at maligned aggregation practices
Icap’s EBS is setting out new best practices on aggregation and will only connect to aggregators that adhere to them, as it seeks to further overhaul the experience of its liquidity consumers
ParFX targets buy side inclusion by Q4
The platform will open its doors to non-bank market participants later this year in what will be the real test of its level-playing-field design
CLS membership will allow more ‘flexibility’, says Natixis
Natixis became a full settlement member in May, as CLS continues its mission to expand the use of the central settlement risk mitigation utility
StanChart expands e-FX experience into credit and rates
Following a reorganisation of its electronic trading business at the start of 2013, Standard Chartered’s Chris Knight now has responsibility for e-commerce in the eastern hemisphere across three asset classes. He talks to Joel Clark about what credit and…
Questions remain over finer details of Sef rules
The countdown to compliance with the Sef rules has begun following their entry in the Federal Register, but some platforms still have questions over the proposed model for a Sef
Buy-side vendor Charles River taps 360T for FX
360T to connect Charles River to FX dealers and regional banks, removing the manual processes currently required to trade currencies through its investment management platform
Consensus lacking on optimal length for randomised pause
The concept of applying a randomised pause to FX trades as a means of deterring disruptive behaviour has garnered support from the users of both EBS and ParFX. But how long should the pause be in order to be effective but not damaging to genuine…
FX prime brokers forced to terminate double give-up trades
Prime brokers have had to cancel four-way agreements for trades involving two buy-side firms, on the basis that a no-action letter issued by the CFTC on April 30 did not cover this type of business
CLS hits new record as FX volumes spike
Almost three million payment instructions were settled by CLS on Tuesday following a surge in trading volumes towards the end of last week
Westpac partners with Broadway Technology for aggregated solution
Australian bank replaces in-house aggregation tool with a white-label offering to increase capacity