Infrastructure
Growth in derivatives trading speeds up, reports BIS
BASEL – Trading on international derivatives exchanges has continued to pick up pace, according to the latest Bank for International Settlements (BIS) Quarterly Review, which was released last week.
Reuters buys risk management specialist
LONDON – Reuters has paid $41 million for Application Networks, a risk management software specialist, as it bids to make headway in the market.
High-frequency trading - the last gold mine in FX?
MONTE CARLO - High-frequency trading could be the only gold mine left in foreign exchange, according to Citigroup director Jessica James, speaking at Risk 's Derivatives and Risk Management conference in Monte Carlo last week.
IFX opens down under
SYDNEY - Brokerage company IFX Group has opened a new branch office in Sydney after being granted a licence by the Australian Securities and Investments Commission to provide derivatives products. These are mainly contracts for difference and FX.
Shortlist for e-FX awards available online
The shortlist for the FX Week e-FX awards has been decided. The awards, which celebrate best practice and innovation in e-FX, have been redesigned to make them more suited to the current e-FX landscape and have been given a more rigorous judging process.
Philips Electronics trades 98% of FX electronically
MONTE CARLO – The e-FX market received a strong endorsement last week, with Philips Electronics revealing that nearly all its FX is transacted electronically.
The importance of FX policy
MONTE CARLO - It is important to have a policy for managing non-trading foreign currency exposures, Ian Tyler, senior manager and group treasurer at Royal Bank of Scotland, told delegates at Risk 's conference.
FNX signs Penson Canada
PHILADELPHIA - Securities outsourcing firm Penson Canada has selected technology provider FNX Solutions' Sierra ASP product to support its FX trading and back-office operations in Canada and the US.
Structured note digital payout versus participation factor
Neil Bardsley , vice-president and FX options correlation trader at Bank of America, studies the use of an at-the-money spot basket option versus a digital payout in a structured note
Bocom selects Misys Opics
China's state-owned Bank of Communications (Bocom) has selected Misys Banking Systems' Misys Opics solution to enhance its back-office treasury processing.
Icap to launch multi-asset class trading
LONDON – Icap is set to offer multi-asset class trading following the acquisition of EBS, with Jack Jeffery taking a central role at the restructured business.
Harmony breaks $50 billion barrier
NEW YORK – Technology vendor Traiana has announced that its Harmony service exceeded $50 billion in volume in a single day on May 17. It also recorded its one-millionth FX give-up since its launch two years ago. The industry standard for FX give-ups…
Icap to launch multi-asset class trading
LONDON – Icap is set to offer multi-asset class trading following the acquisition of EBS, with Jack Jeffery taking a central role at the restructured business.
EBS set to take NDF trading online
LONDON – Non-deliverable forwards are set to be traded electronically with EBS. The platform is in discussion with banks about making them available on the platform.
BarCap rolls out e-FX for Asia
SINGAPORE – Barclays Capital (BarCap) has launched electronic trading of vanilla FX options in Asia via its proprietary platform, Barx for FX Trading.
Cognotec to roll out e-trading platform
LONDON – Cognotec last week began the first-phase roll out of an e-trading solutions platform that will bring together all client segments and asset classes.
Reuters adds four banks to RTFX platform
LONDON – Deutsche Bank, Dexia, HSBC and Société Générale (SG) have joined Reuters' bank-to-client platform Reuters Trading for Foreign Exchange (RTFX).
Currenex applies for engine patent
NEW YORK – Currenex has applied for a patent for its aggregated liquidity matching engine, CX OneOrder.
Cognotec to roll out e-trading platform
LONDON – Cognotec last week began the first-phase roll out of an e-trading solutions platform that will bring together all client segments and asset classes.
Post-trade is the key to success
Howard Tolman, director of sales at technology vendor Logicscope, points to the recent e-trading survey from BarCap as evidence that post-trade service is more important than pre-trade functionality in winning and keeping clients
Manila plays host to forex industry
Friday MANILA – The conference proper starts on Friday, with welcome remarks from Amando Tetangco, governor of the Bangko Sentral ng Pilipinas, and the secretary of the department of finance, Margarito Teves. Delegates will then hear from the president…
EBS hits daily volume record
LONDON – EBS hit another daily volume record last week, amid volatile market conditions.
TraderTools goes with the flow
NEW YORK – Financial systems integrator Worldflow and vendor TraderTools have formed a strategic alliance whereby the former extends implementation and support capabilities of TraderTools' e-FX platform across Europe.
A simple strangle for EUR/GBP vol
Currency managers can insure against unexpected moves in the EUR/GBP using a simple low-cost method, says Neil Mellor, currency strategist at the Bank of New York in London