News
Record results for US banks
NEW YORK – US investment banks have stormed through 2005, with record-breaking results from fixed-income divisions released last week.
Switch launch to speed up trade
CAMBRIDGE, ENGLAND – Vendor Adder Technology has launched the Adder TS4, a keyboard and mouse switch aimed at reducing complexity in foreign exchange trading rooms as well as other asset classes.
FlexTrade signs Traderforce deal
NEW YORK – US vendor FlexTrade has acquired a 72% majority stake in FIT-Traderforce, a French vendor, in an all-cash deal.
BGC poaches seven from IFX
LONDON – A seven-strong sales and trading team are understood to have quit IFX Markets – the London-based financial trading and spread-betting company – last Friday.
ODL expands into Chicago
LONDON – ODL Securities is expanding its global presence with a new sales office in Chicago, according to a senior official in London.
BBH looks to Holland and Scandinavia for staff
LONDON – Brown Brothers Harriman (BBH) is to expand its FX coverage into Holland and Scandinavia in 2006 as it builds its European capabilities.
NYSE launches euro-linked shares
NEW YORK – The New York Stock Exchange (NYSE) last week launched shares linked to the euro, demonstrating the growing demand for exchange-traded currency products.
Bank forex heads look to alternative staffing options
LONDON – Forex desk heads are increasingly looking to poach staff from other areas within their banks in a bid to limit wage inflation.
Causeway selects Misys Treasury Plus
LONDON AND NEW YORK – Causeway Capital Management (Causeway) has chosen vendor Misys Banking Systems (Misys) for increased efficiencies in the confirmation and settlement processes for money market and other financial instrument transactions.
New service from IF
LONDON – IFX markets is set to launch a money management service aimed at third-party clients in the new year.
Over-the-counter options drop down under, says Afma
SYDNEY – Trading in over-the-counter options fell by more than a third this year, according to figures released by the Australian Financial Markets Association (Afma).
Rabo takes Kalahari's kACE
LONDON – Rabobank has selected technology vendor Kalahari's pricing, calculation and analysis tool kACE for its short sterling desk in London.
M&G to sign with FX Connect
LONDON – M&G is set to sign up with FX Connect in the early part of next year, as it looks to take its FX transactions onto an electronic basis.
StanChart deploys Eurobase FX link
LONDON – Standard Chartered Bank is implementing gateway technology from London-based software vendor Eurobase Banking Solutions to further automate its FX liquidity, according to Eurobase officials.
Turkish lira joining mainstream
ANKARA – Just a few years ago the Turkish Lira (TRY) was seen as a unit on the risky side of the emerging market spectrum, but the market is now taking it seriously.
Travelex targets Aussie corps
MELBOURNE – Global forex specialist Travelex is set to target companies in Australia with the launch there of an online system early next year.
ABN Amro deploys TraderTools technology
NEW YORK – ABN Amro has gone live with TraderTools' electronic foreign exchange trading platform, STPlatform, at all its forex sales and trading sites.
SunGard expands options offering
LONDON – Reech, a business unit of SunGard, has added a new FX option pricing model to its 'FastVal' over-the-counter derivatives valuation service.
Emerging markets options go online
LONDON – Banks are building up online capabilities for emerging market currency options as the market for the products continues to expand.
Deutsche rolls out new version of autobahnFX
LONDON – Deutsche Bank has released an upgraded version of its platform autobahnFX that provides users with greater configurability for pricing.
India to liberalise forex regulations
NEW DELHI – The Reserve Bank of India (RBI) looks set to liberalise rules governing forex transactions, cutting the red tape that limits the public's ability to buy and sell currency.
Gain launches new research offering
BEDMINSTER, NEW JERSEY – Gain Capital, provider of FX trading and asset management services, has launched a new research offering and enhanced its proprietary FX trading platform, ForexTrader.
Going global
In the first of a series, FX Week looks at the big hitters in the industry. First is HSBC, which knocked Citi off the number three spot in last month's Best Banks Awards