Infrastructure
Panel findings highlight evolving role of buy-side
LONDON – The rise of algorithmic trading indicates that the traditional distinction between the buy- and sell-side is fading, according to a panel discussion held in London last week.
SmartStream launches TLM Trade Process Management
LONDON & BOSTON – London-based technology vendor SmartStream Technologies last week released a system that automates the transaction lifecycle from execution to settlement.
CME widens footprint and connectivity
CHICAGO – The Chicago Mercantile Exchange (CME) has outlined plans to broaden its global FX footprint and improve international connectivity.
A quick fix for Mifid
Sell-side firms must adopt the FIX protocol or lose out, warns Chris Pickles , chair of the directive's Joint Working Group in London
HDFC Bank chooses Misys for rates derivatives
MUMBAI – HDFC Bank in India will adopt Misys Summit to process interest rate and currency derivatives. The system is scheduled to go live at the end of this year. HDFC and UK technology provider Misys are also in discussion to use the system for equity…
When opportunity comes a-knockin'
In the past few weeks, FX Week has looked at opportunities the retail forex market presents for banks.
Wall Street Systems realigns technology profile
NEW YORK & LONDON – Technology vendor Wall Street Systems has repositioned its products in an attempt to target banks in addition to corporates.
Calpers begins trading over LavaFX
SACRAMENTO – The California Public Employees' Retirement System (Calpers) has begun trading over electronic communications network (ECN) LavaFX.
ICE pilots Nybot index
ATLANTA – The Intercontinental Exchange (ICE) began piloting the New York Board of Trade (Nybot) US dollar index and FX futures products last Friday (March 16), with a full launch due in April.
State Street acquires Currenex
BOSTON & NEW YORK – State Street has completed the acquisition of multibank platform and technology vendor Currenex for $564 million.
Nordea triples its autoquote limits
COPENHAGEN – Nordea is continuing to develop its e-commerce capabilities, with an almost threefold increase to autoquote limits across all platforms to which it deals.
Italy's Banca Akros adopts Corona CLS
MILAN – Banca Akros, the investment-banking arm of Italy's Banca Popolare di Milano group, has implemented SmartStream Technologies' Corona CLS to manage its confirmation matching process.
Erste Bank implements Calypso
VIENNA – Erste Bank has begun implementing a front- to back-office solution from San Francisco-based techno- logy vendor Calypso Technology for interest rates, foreign exchange and credit derivatives.
Trading platform volumes surge as stock markets plunge
LONDON - The sharp correction in stock markets around the world last week triggered the unwinding of the carry trade, bringing record trading volumes to foreign exchange platforms.
BarCap adds commodity-linked structured notes
LONDON - Barclays Capital has added commodity-linked structured notes trading to its Barx Investor Solutions platform.
South Africa looks to currency futures
JOHANNESBURG - South Africa will launch currency futures trading on its interest rate exchange platform, YieldX, in coming months.
Fimat opens Sydney FX desk
SYDNEY - Brokerage firm Fimat has launched an FX desk in Sydney as it expands its Asia-Pacific presence.
CLS mulls netting option
NEW YORK - CLS is reviewing the possibility of launching a netting service, as the settlement platform looks to adapt to the changing landscape.
Retail FX offers lucrative returns
LONDON - Retail FX traders account for $50 billion of the $2.5 trillion a day FX market, according to research released last week.
Mifid – a commercial opportunity
The commercial opportunities Mifid presents to the foreign exchange dealer are examined by Chris Pickles, chair of the directive's Joint Working Group in London
Where there's change, there's opportunity
The financial markets are exceptionally good at thinking up new and innovative ways of getting things done when hurdles emerge.
Carry on... with a difference
There are many ways to take advantage of uncorrelated carry trades, says Marios Maratheftis, FX strategist at standard chartered in London
FXall goes live with Accelor ECN
LONDON – FX trading portal FXall has launched Accelor, its new anonymous electronic communications network (ECN). The platform went live with a pilot group of 30 sell- and buy-side participants at the end of last month, and is now being rolled out more…
FXall adds benchmark fixings to QuickOMS
LONDON – FXall has added benchmark fixings from Citigroup, HSBC and the Royal Bank of Scotland (RBS) to its order management system, QuickOMS.