Infrastructure
August 2006 - FXall to launch anonymous platform
NEW YORK – It emerged in August that FXall was looking to launch an anonymous trading platform to target both buy-side and sell-side market participants. The multi-bank portal sent details to banks outlining how the new platform was set to work.
March 2006 - FXall agrees to sell 20% stake to TCV
NEW YORK – FXall agreed to sell a 20% stake to private equity firm Technology Crossover Ventures (TCV), based on an overall valuation of $300 million for the company, sources told FX Week .
October 2006 - Bank of China broadens CLS horizons
HONG KONG & BEIJING – Bank of China (BoC) became a shareholder in CLS Group, as the world's largest emerging economy took another step towards integration into global capital markets.
December 2006 - EBS moves into netting following Traiana deal
LONDON – EBS is to establish a netting service to enable prime customers to net trades with their banks, as the spot broker looks to adapt to the changing landscape.
July 2006 - NAB saga heads towards closure
MELBOURNE – The final chapter of the National Australia Bank (NAB) trading scandal unearthed in 2004 drew close to its conclusion in July, with the last two forex options traders jailed.
The sands of forex will shift in 2007
GLOBAL – 2007 will see a big shift in the landscape of the FX industry, according to leading market participants.
The sands of forex will shift in 2007
GLOBAL – 2007 will see a big shift in the landscape of the FX industry, according to leading market participants.
EBS moves into netting
LONDON – EBS is to establish a netting service to enable prime customers to net trades with their banks, as the spot broker looks to adapt to the changing landscape.
HSBC trades non-deliverable swaption
HONG KONG – HSBC last week traded the first ever option on a renminbi non-deliverable interest rate swap.
CLS moves into OTC derivatives
NEW YORK – Settlement system CLS has begun working with the Depository Trust & Clearing Corporation (DTCC) to provide central settlement of payments for over-the-counter (OTC) derivatives.
Quick, look busy! Here comes Mifid
Chip Lowry , senior managing director of State Street Global Link in Europe, looks at what Mifid will mean for the foreign exchange industry
Reuters cuts EM options brokerage fees in half
LONDON – Reuters' decision to revamp its FX options matching system has increased competition for e-broking of options, with the prospect of slashed brokerage fees.
LiquidityHub hires chief executive, pooling banks' resources
Robert MacLeod has been made chief executive of London-based LiquidityHub, a venture that aims to electronically pool the fixed-income liquidity of 11 investment banks.
TwoFour connects to FXall
Technology vendor TwoFour Systems last week teamed up with multi-bank portal FXall to offer its clients access to prices directly through its own trading platform.
ASIA PACIFIC NEWS: ABN Amro pays $4.5m settlement in Vietnam forex trading case
HANOI – Dutch bank ABN Amro has paid $4.5 million to police to settle a dispute over allegations by the Vietnamese government that its traders broke FX trading regulations.
FXall in ruble push
MOSCOW – Multibank platform FXall has added five liquidity providing banks to bolster trading in the Russian ruble.
Proportionate regulation is the key
The move by the US and UK regulators to work in closer co-operation can only be a good thing for the market as a whole.
US and UK regulators sign MoU to improve market surveillance
LONDON & WASHINGTON DC – The UK Financial Services Authority (FSA) and the US Commodity Futures Trading Commission (CFTC) signed a Memorandum of Understanding (MoU) to strengthen market communication oversight last week.
Citi forms FICC group
NEW YORK – Citigroup has merged its global fixed income and emerging markets businesses to establish a new global fixed income, currencies and commodities (FICC) group.