News
FXMarketSpace build-up continues with eight hires
LONDON, NEW YORK & CHICAGO – FXMarketSpace, the Reuters and Chicago Mercantile Exchange (CME) joint-venture platform, has made eight new hires ahead of launch at the end of this quarter.
WestLB plugs into Gissing Software
LONDON – German bank WestLB is using technology from Gissing Software to distribute foreign exchange and money market prices across its offices globally.
GFI gains Fenics FX client in Singapore
SINGAPORE – A major Singapore bank, thought to be DBS, is deploying foreign exchange option pricing and risk management software, Fenics FX, from interdealer broker GFI.
Calpers begins trading over LavaFX
SACRAMENTO – The California Public Employees' Retirement System (Calpers) has begun trading over electronic communications network (ECN) LavaFX.
Bullish results for US investment banks
LONDON & NEW YORK – US investment banks have continued to report year-on-year growth, in first quarter results released last week.
Dresdner recruits in New York
NEW YORK – Dresdner Kleinwort has hired Ira Koyner as head of FX options in New York.
Oanda adds five exotic currency pairs
TORONTO – Online FX trading company Oanda has added five new currency pairs to its trading platform FXTrade.
BarCap gains and loses in EM
LONDON – Barclays Capital has made a gain and a loss on its emerging markets options desk in London, indicating the competitive landscape for emerging markets traders.
ICE pilots Nybot index
ATLANTA – The Intercontinental Exchange (ICE) began piloting the New York Board of Trade (Nybot) US dollar index and FX futures products last Friday (March 16), with a full launch due in April.
Saxo Bank opens virtual head office
CYBERSPACE – Saxo Bank has opened a virtual headquarters in social networking site Second Life.
HSBC hit by departures in FX
LONDON & HONG KONG – HSBC's international FX operations saw the loss of a number of staff last week.
State Street acquires Currenex
BOSTON & NEW YORK – State Street has completed the acquisition of multibank platform and technology vendor Currenex for $564 million.
Nordea triples its autoquote limits
COPENHAGEN – Nordea is continuing to develop its e-commerce capabilities, with an almost threefold increase to autoquote limits across all platforms to which it deals.
AIG launches emerging markets FX indexes
NEW YORK – AIG Financial Products last week launched emerging-markets (EM) foreign exchange indexes, to leverage the continued investor interest in the area.
EBS to expand EM capability
SINGAPORE – Spot broker EBS plans to expand its emerging markets capabilities with a number of new currencies set for launch in the coming months.
Gain Capital rolls out web-based platform
BEDMINSTER, NEW JERSEY – Gain Capital has launched a Windows-based margin trading platform for institutional and individual investors.
CFTC stings Pioneer for record-keeping lapses
WASHINGTON, DC – The US Commodity Futures Trading Commission has fined futures commission merchant Pioneer Futures $25,000 in civil penalties, for failing to keep up-to-date records.
SuperDerivatives launches derivatives trading platform for hedge funds
LONDON – Technology firm Super-Derivatives has launched an online multi-asset derivatives trading platform, designed for hedge funds.
BarCap loses three in Asia
HONG KONG – Barclays Capital has lost three members of its foreign exchange team in Asia, market sources told FX Week .
Italy's Banca Akros adopts Corona CLS
MILAN – Banca Akros, the investment-banking arm of Italy's Banca Popolare di Milano group, has implemented SmartStream Technologies' Corona CLS to manage its confirmation matching process.
BoA hit by spate of forex departures
LONDON & NEW YORK – Gaps are widening within Bank of America's FX operations, with a flood of departures last week.
GFI opens office in Seoul
SEOUL – Interdealer broker GFI has opened an office in Seoul, to provide onshore coverage to the Korean market. The new office began operations last Monday (March 5) under the name GFI Korea Money Brokerage. It brokers Korean interest rate swaps, and…
HSBC names new forex line-up in North America
NEW YORK – HSBC has named two new co-heads of FX for North America.