News
New record for CME
CHICAGO – FX products on the Chicago Mercantile Exchange (CME) averaged a record 501,000 contracts per day in May, up 69% over the same period last year.
North American companies not ready to take on FX risk
NEW YORK – North American firms are insufficiently prepared to deal with FX risk, according to a survey by forex specialist Travelex.
Citigroup loses four in Milan sales
MILAN – US bank Citigroup has lost a number of its Italian FX institutional sales team in Milan in recent weeks, according to market sources.
Positive returns for most in April
More managers see positive returns, with systematic styles winning out, while discretionary managers post poorest results
Harmony breaks $50 billion barrier
NEW YORK – Technology vendor Traiana has announced that its Harmony service exceeded $50 billion in volume in a single day on May 17. It also recorded its one-millionth FX give-up since its launch two years ago. The industry standard for FX give-ups…
RBS expands global sales team
GLOBAL – The Royal Bank of Scotland (RBS) has boosted its financial institutions sales team with nine hires globally.
Icap to launch multi-asset class trading
LONDON – Icap is set to offer multi-asset class trading following the acquisition of EBS, with Jack Jeffery taking a central role at the restructured business.
EBS set to take NDF trading online
LONDON – Non-deliverable forwards are set to be traded electronically with EBS. The platform is in discussion with banks about making them available on the platform.
Safe proposes forex management agency
SHANGHAI – The central bank of China's FX regulator plans to set up an agency in Shanghai in the summer to oversee the country's FX reserves portfolio, according to local press reports.
StanChart adds renminbi traders
SHANGHAI – Standard Chartered has boosted its FX trading desk in Shanghai with the appointment of Gordon Jiang as Chinese renminbi forward trader.
BarCap rolls out e-FX for Asia
SINGAPORE – Barclays Capital (BarCap) has launched electronic trading of vanilla FX options in Asia via its proprietary platform, Barx for FX Trading.
Cognotec to roll out e-trading platform
LONDON – Cognotec last week began the first-phase roll out of an e-trading solutions platform that will bring together all client segments and asset classes.
GFI to launch hybrid offering
NEW YORK – Broker GFI is set to introduce a hybrid voice and electronic options offering, and is making management changes to reflect the increased capability.
Reuters adds four banks to RTFX platform
LONDON – Deutsche Bank, Dexia, HSBC and Société Générale (SG) have joined Reuters' bank-to-client platform Reuters Trading for Foreign Exchange (RTFX).
Global sales head for HSBC
NEW YORK & LONDON – HSBC has made Rod Prat global head of sales, global markets, in New York, as it looks to implement a global strategy.
Currenex applies for engine patent
NEW YORK – Currenex has applied for a patent for its aggregated liquidity matching engine, CX OneOrder.
EBS boosts Hong Kong and Singapore dollar trading
HONG KONG – Spot broker EBS has added 10 currency panels per page to its EBS Spot screen in a bid to increase trading in Asian currencies.
Cognotec to roll out e-trading platform
LONDON – Cognotec last week began the first-phase roll out of an e-trading solutions platform that will bring together all client segments and asset classes.
E-trading for Calyon Financial
PARIS – Calyon Financial, the brokerage arm of French bank Calyon, last week launched an online forex trading platform called Calyon Financial FX Edge.
vwd updates trading system
FRANKFURT – German data vendor vwd enhanced its market-manager trading system at the end of Q1 and is set to update portfolio manager next month with FX data, according to officials.
SuperD adds hedging
NEW YORK – Online options trading platform SuperDerivatives has added a number of features to its SD-FX currency option platform.
Manila plays host to forex industry
Friday MANILA – The conference proper starts on Friday, with welcome remarks from Amando Tetangco, governor of the Bangko Sentral ng Pilipinas, and the secretary of the department of finance, Margarito Teves. Delegates will then hear from the president…