Infrastructure
Talks mount over FXall buyer
NEW YORK – FXall has 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, say sources.
The winners take it all?
In the past few years, it has become clear that the winners in FX are those that were first to commit to the right IT investment.
Talks mount over FXall buyer
NEW YORK – FXall has 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, say sources.
Marex continues expansion
NEW YORK & LONDON – Independent brokerage firm Marex Financial has signed its third deal with an FX platform in recent weeks.
Logicscope ties up with TwoFour Systems
NEW YORK – Vendor TwoFour Systems has become the latest participant in the Logicscope Vendor Partner Program.
Demand for ETFs at an all-time high
BASEL – Demand for exchange-traded futures and options contracts reached an all-time high last year, with annual turnover up 22% on 2004, according to the latest quarterly data released by the Bank for International Settlements (BIS).
Gain expands US retail FX presence
BEDMINSTER, NEW JERSEY – Gain Capital, the non-bank provider of forex trading and asset management services, has opened an office in New York City.
Is risk adequately priced?
An end to carry plays on high-yield emerging currencies would create volatility in FX markets and potential flight to safe-haven assets. Sharada Selvanathan , currency strategist at BNP Paribas in Singapore, suggests a basket to benefit from this
Dresdner launches FX prime brokerage
LONDON - Dresdner Kleinwort Wasserstein (DrKW) last week launched a foreign exchange prime brokerage (FXPB) business, completing its cross-asset class product PB offering.
Currenex platform for Marex
LONDON - Marex Financial, a Refco spin-off, began offering Currenex's white label FX platform, FXtrades to clients last week.
BarCap loses in London
LONDON - Barclays Capital (BarCap) has seen two departures from its London FX desk in the past two weeks.
SunGard expands Asia-Pacific operations
TOKYO - Software vendor SunGard is expanding its operations in the Asia- Pacific region in 2006. It will provide solutions for trading, treasury and risk management, benefit administration and insurance. Other services include institutional asset…
Sumitomo goes live with Calypso solutions
TOKYO - Sumitomo Trust & Banking (STB) has gone live with vendor Calypso's interest rate and FX derivatives software solutions.
Reuters expands in China
EIJING - Reuters is significantly increasing its presence in China, signing five banks to its Dealing 3000 matching service and selling its Kondor risk management product suite to six.
Traiana goes live with forex options
NEW YORK - Software vendor Traiana went live with its foreign exchange options service on its Harmony Message Center (HMC) this month.
Refco saga continues
NEW YORK – The Refco saga continued last week, with creditors vetoing a deal that would have seen the remains of the unregulated business sold to Forex Capital Management.
Senior management changes at Reuters
LONDON – Reuters is making two key changes to its senior management line-up as it seeks to boost its e-trading capabilities.
Bloomberg to create e-trading company
NEW YORK – Bloomberg is partnering with several major banks to launch an electronic swaps trading company, according to the data vendor.
Marex Financial takes FXall
LONDON – Independent brokerage firm, Marex Financial has started offering foreign exchange liquidity and trading services from FXall to clients in Europe, the Middle East and the US.
Saxo makes retail move
COPENHAGEN – Saxo Bank is making significant changes to its structure, as it seeks to boost its retail business with senior hires from the Danish business world.
Lloyds TSB goes live on 360T portal
LONDON & FRANKFURT – UK bank Lloyds TSB Financial Markets has gone live as a liquidity provider to German multibank portal 360T ( FX Week , January 30).
UOB selects WSS for Thai branch
NEW YORK & BANGKOK – Singapore-based United Overseas Bank (UOB) has selected vendor Wall Street Systems' (WSS) full FX front- to back-office processing for its newly formed Thai branch UOB (Thai).