Infrastructure
Electronic FX volumes expected to reach 80% by 2010
NEW YORK - Electronic foreign exchange trading will account for 80% of the overall FX market by 2010, according to research released last week.
SuperD adds inflation products to platform
NEW YORK - Derivatives data and pricing software vendor SuperDerivatives is adding support for inflation-linked securities and derivatives to its SD-IR interest rate derivatives pricing module, in response to client demand for data to hedge inflation…
Time for a new market structure
The irony of the FX markets is that calls for post-trade efficiencies today are rooted in the overall efficiencies seen to date. But the fact is that the market is reaching a critical turning point.
FXMarketSpace trading slow in October
CHICAGO - Trading on FXMarketSpace continued to decline in October, with average daily volumes dropping 16% to $696 million, according to figures released by the platform last week.
360T signs up to Harmony
NEW YORK – 360T is set to provide straight-through processing (STP) on multibank platform TEXR Multidealer Trading System and spot FX aggregator Supersonic TEXR using the Traiana Harmony network.
Reversal of fortunes for Parker FX
STAMFORD, CT – The Parker FX index reported a return of 1.40% in September, with managers benefiting from a declining greenback.
Chicago Mercantile Exchange posts third-quarter gains
CHICAGO – The Chicago Mercantile Exchange (CME) posted strong revenue gains and increased contract volumes in third-quarter results released last Wednesday (October 24).
Banks slow to prepare for Mifid
PARIS – Investment banks have spent 20–25% less than initial estimates on preparations for the Markets in Financial Instruments Directive (Mifid), according to research from Paris-based IT service provider Atos Origin.
Thomson launches online news service
Thomson Financial has launched Thomson FX Hub, an online news service for retail FX traders.
Merrill suffers $5.6 billion FICC losses
NEW YORK – Merrill Lynch last week reported record results in interest rates and currencies during the third quarter, but gains were wiped out by big losses in credit and mortgage markets.
South Korean forex reaches record high
SEOUL - FX turnover hit a record high in South Korea in the third quarter.
IMF turns against the dollar
U-turn on USD value dashes hopes for G-7 statement on dollar weakness
Market demands multi-asset solutions
SINGAPORE - Hedge funds are driving demand for multi-asset platforms in Asia, said Michele Wee, director and head of electronic FX at Deutsche Bank in Singapore.
Icap breaks into post-trade forex
LONDON & NEW YORK - Icap's agreed acquisition of post-trade technology vendor Traiana signals a push by the industry to tackle post-trade processing strains brought on by surging ticket volumes.
Swift grows front office
Halfway through its five-year strategy, industry co-operative Swift has made improving front-office services a priority
Forex settlement risk: banks look beyond CLS
Rick Schumacher, director of products at Wall Street Systems in New York, evaluates the foreign exchange market's alternatives to CLS
Eley gathers MMI clients
NEW YORK - John Eley, former president and chief executive at electronic communications network Hotspot FX, has signed seven banks for his new data analytics company, Managed Models Inc (MMI) in New York.
FXMS and EBS trading back to normal
CHICAGO & LONDON - FXMarketSpace and electronic spot broker EBS recorded a decline in average daily volumes in September, demonstrating a return to normal levels of trading after a highly volatile August.
Losses abound on Parker FX
STAMFORD, CT - The Parker FX index was down 1.54% in August, with markets characterised by skyrocketing volatility spurred by unwinding yen-based carry trades.
The true cost of pre-settlement netting
As the industry comes to terms with the fact that banks have begun pre-settlement netting, conversation is moving to the implications this has for the smaller of the 57 CLS member banks.
Is the dollar dross?
Pete Luxton, global markets adviser, and Shant Movsesian, FX options manager, at Informa Global Markets in London, seek ways to benefit from the flagging US dollar
Global FX trading up 71%
BASEL - The huge growth in daily turnover in the global foreign exchange market, revealed in the Bank for International Settlements' (BIS) triennial foreign exchange survey last week, continues to solidify FX as an asset class.
Deutsche upgrades db MarketPlace
LONDON - Deutsche Bank is rolling out an upgraded version of its interactive order book, db Marketplace, next week.