News
BrewerFX partners with Learn: Forex
CHICAGO – BrewerFX, a subsidiary of wealth management firm Brewer Investment Group, has selected Learn:Forex, the US-based FX learning institute, as its exclusive partner for managed FX trading and FX education.
Goldman Sachs gets Korean branch licence
SEOUL – Goldman Sachs has obtained a local banking branch licence in South Korea, enabling the investment bank to provide clients with a range of financial services products in the country. South Korean financial regulators will allow Goldman to provide…
UBS move to Zurich sparks first departures
ZURICH & LONDON – UBS's decision to exit London and move to Zurich has led to the first departures at the bank.
Trading tech spending to exceed £3bn in UK
LONDON – Trading technology spending by UK financial institutions is set to rise above £3 billion per year, according to a dealing room survey from advisory and consulting company Kimsey Consulting.
CME volumes up in Q2
CHICAGO – Volumes for FX products at the Chicago Mercantile Exchange (CME) were up 42% in the second quarter versus the same period a year ago.
FX Week USA: the future in one day
This year's FX Week USA conference looks set to be the best yet. Now in its third year, the event will host senior speakers from across the industry. There will be a keynote address from Peter Borish, chief executive of Twinfields Capital Management,…
CME takes Swapstream for $15m
CHICAGO – The Chicago Mercantile Exchange (CME) is acquiring multi-dealer interest rate swaps trading platform Swapstream for $15 million.
HSBC realigns FX in US
NEW YORK – HSBC has re-aligned forex management in New York amid broader changes for its US operations.
Aegis Software offers algo trading for FX
NEW YORK – Trading technology vendor Aegis Software has added support for FX electronic communications networks (ECNs) to its AthenaTrader multi-asset order execution system for global equities, futures, options and FX.
Eurobase signs software deal with StanChart
LONDON – Eurobase Banking Solutions and Standard Chartered Bank have signed a deal where the latter uses Siena XML Gateway to manage FX price-streaming to additional e-FX trading portals.
Ex-NAB traders jailed
MELBOURNE – The final chapter of the National Australia Bank (NAB) trading scandal unearthed in 2004 closed last week, with the last two forex options traders jailed.
Gain takes on Refco legacy business
NEW YORK – The future of Refco's 15,000 retail accounts looks a little more secure after last week's proposed deal with futures commission merchant Gain Capital.
MetaQuotes launches mobile trading platform
KAZAN – MetaQuotes Software, a Tartastan-based information and technology vendor, will launch a new mobile trading terminal on August 1.
China regulator to allow sterling/renminbi trading
SHANGHAI – China's foreign exchange regulator said last week it would permit trading of the renminbi against sterling on its FX market from August 1.
AXA IM adds currency management team
LONDON – AXA Investment Managers (AXA IM) is building up its FX capabilities with a new currency management team in London.
Saxo hires sales trio in London
LONDON – Saxo Bank has continued its recent aggressive hiring spree by adding three new faces to it institutional sales team in London.
BoA launches streaming FX options
NEW YORK – Bank of America has launched streaming options on its FXtransact web-based platform.
Asia Pacific: Intervention still a factor
BASEL – Reserve accumulation by the Asian FX market failed to stem the appreciation of a number of Asian currencies, according to the BIS's 76th annual report published last week.
Asia Pacific: Korean agency to manage $17bn of forex reserves
SEOUL – Korea Investment Corporation (KIC) signed a contract with the central bank of Korea last week to invest $17 billion of the country's foreign exchange reserves, according to the KIC.
Getting ahead in algo trading
LONDON – Progress Software, the technology vendor, has published a guide for the buy-side on how to get ahead in algorithmic trading in FX and other asset classes.
Asia Pacific: RBS launches US dollar swap trading in Asia via Bloomberg
HONG KONG – The Royal Bank of Scotland (RBS) launched US dollar swap trading last week during Asia business hours on Bloomberg.
EM currency positions hit
LONDON – The sharp moves in emerging markets (EM) currencies seen over the past few months are likely to lead to a shake-up in trading strategies.