News
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.
Erste Bank implements Calypso
VIENNA – Erste Bank has begun implementing a front- to back-office solution from San Francisco-based techno- logy vendor Calypso Technology for interest rates, foreign exchange and credit derivatives.
Bear Stearns poaches senior BNP Paribas staff
PARIS – Bear Stearns has hired two senior FX staff from BNP Paribas, as part of plans to launch its FX business in Paris, market sources say.
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.
Trading platform volumes surge as stock markets plunge
LONDON - The sharp correction in stock markets around the world last week triggered the unwinding of the carry trade, bringing record trading volumes to foreign exchange platforms.
Thailand to scrap controls
BANGKOK - The Bank of Thailand's plans to get rid of remaining capital controls will lead to a widening of the spread between the onshore and offshore spot rates, say analysts.
BarCap adds commodity-linked structured notes
LONDON - Barclays Capital has added commodity-linked structured notes trading to its Barx Investor Solutions platform.
Raised margin requirements threat to global liquidity?
CHICAGO - The Chicago futures exchanges' decision to raise margin requirements could affect global liquidity, warn analysts.
South Africa looks to currency futures
JOHANNESBURG - South Africa will launch currency futures trading on its interest rate exchange platform, YieldX, in coming months.
Parker FX index reports flat returns for January
STAMFORD, CT - The Parker FX index has reported a flat return for January, with exactly half its indexed programmes reporting positive results, and the remaining half reporting losses.
Fimat opens Sydney FX desk
SYDNEY - Brokerage firm Fimat has launched an FX desk in Sydney as it expands its Asia-Pacific presence.
CLS mulls netting option
NEW YORK - CLS is reviewing the possibility of launching a netting service, as the settlement platform looks to adapt to the changing landscape.
Forex drives major bank earnings
ZURICH, UK AND COPENHAGEN - European banks have reported a strong set of results for 2006, with FX businesses playing a key role.