Infrastructure
GSAM jumps on Hotspot FX bandwagon
JERSEY CITY – Goldman Sachs Asset Management (GSAM) is understood to have signed on for electronic communication network (ECN) Hotspot FX, sources have told FX Week .
FX and DX: volatility events and the bid-ask spread
Charles Wright suggests a rational means for adjusting the bid-ask spread to compensate for the uncertainty associated with routine event-driven conditions
FXMarketSpace's advantage is eroded
FXMarketSpace has released its second set of volume figures, showing the platform is growing steadily.
PIA launches independent research service
A team of three former Dresdner Kleinwort bankers last week launched Price Information Advantage (PIA), an independent provider of technical research platform.
Reuters upgrades RTFX service
LONDON – Reuters has gone live with a revamped version of Reuters Trading for Foreign Exchange (RTFX), its bank-to-client FX trading service.
FXMarketSpace volumes continue to rise
LONDON – Average daily trading volumes on FXMarketSpace rose 54% in May, indicating steady growth over the platform, say analysts.
Canadian dollar reaches record highs
OTTAWA – The Canadian dollar rose to record highs last week, amid better than expected growth leading to anticipation of interest rate rises.
Mifid: the final countdown
Those that haven't firmly addressed their execution policy must take action, says Chris Pickles , chair of the directive's Joint Working Group in London
FXMS embarks on global push
LONDON, CHICAGO & NEW YORK – Eight new roles have been created at Reuters and CME joint venture FXMarketSpace (FXMS), to drive the platform's continued global expansion.
SwapsWire rolls out to South Korea
SEOUL – SwapsWire has gone live in South Korea. Interdealer brokers Tullett Prebon and BGC Capital Markets are now using the service to provide OTC trade confirmation and straight-through-processing (STP) services to dealing clients in the country.
Trading Places
HSBC, Joseph De Feo, Merril, Nixon, Citi, Bear Sterns, Credit Suisse, Calyon, RZB, WestLB, ANZ, CMC
Algorithmic trading:the race for better value
The rocketing popularity of algo trading is examined byMark Akass, chief technology officer of BT Global Financial Services
Man Financial takes on TwoFour
WHITE PLAINS, NEW YORK – Broker Man Financial has licensed technology vendor TwoFour’s trade processing tool for its European and US treasury operations.
BIS review reveals slowing growth in OTC derivatives
BASEL – Growth in over-the-counter FX derivatives slowed in the second half of 2006, rising only 5% versus 21% in the first half of the year, according to research released last week.
Progress offers algo platform as a customised
BEDFORD, MASSACHUSETTS – Progress Software Corporation has packaged its Apama algorithmic trading platform for sell-side banks to offer as a complete web-based service to buy-side clients.
JP Morgan to offer structured deposit system
SINGAPORE – JP Morgan plans to go live with a structured deposit pricing and processing system by mid-June, to automate the roll-out of dual currency investment products.
Caplin Systems unveils web trading tool
LONDON – Market data systems vendor Caplin Systems is today (May 21) launching Caplin Trader, an out-of-the box web trading application that enables banks to build multi-product trading portals in FX and fixed income, officials at the company told FX…
Automation hot for Russia
MOSCOW – Automation was the central theme at the third annual international foreign exchange seminar in Moscow last Tuesday (May 15).
To net or not to net? That's CLS's question
He who shouts loudest will be heard? If the old adage is true, then settlement platform CLS should be moving into netting.
Misys upgrades Opics Plus for higher volumes
NEW YORK – Technology provider Misys has launched Opics Plus v2.0, to accommodate an anticipated rise in FX trading volumes by clients.
Saxo continues Asia expansion in Singapore
SINGAPORE – Saxo Capital Markets, the Asian subsidiary of Saxo Bank, is continuing to expand its footprint in the Asia-Pacific region, with two key appointments in Singapore.
Market nonchalant about FXMS data
CHICAGO – Market participants largely shrugged off volume data released by Reuters/Chicago Mercantile Exchange (CME) joint venture platform FXMarketSpace last week, claiming it is too early to judge the success of the platform.
Merrill Lynch launches first rated CFXO
LONDON – Merrill Lynch has launched the first full rated and managed collateralised foreign exchange obligation. The product is being managed by Crédit Agricole Asset Management, and rated by Standard & Poor's.
Wall Street Systems eyes smaller banks
MONTREAL – Wall Street Systems has made its Wallstreet FX trade processing tool available over an application service provider (ASP) aimed at smaller banks.