News
WSS/Cognotec launch system
STOCKHOLM, NEW YORK AND LONDON – Vendors Wall Street Systems (WSS) and Dublin-based Cognotec have launched an integrated FX solution delivering connectivity to banks, offering pre- and post-trade connectivity to clients.
Chinatrust Commercial goes live with SaxoTrader
HONG KONG – Chinatrust Commercial Bank has begun trading over Saxo Bank’s online trading tool, SaxoTrader.
Wall Street Systems launches limit order product
NEW YORK – Wall Street Systems (WSS) has launched its FX Limit Orders Module. The module provides customers with an HTML-based environment for submitting spot foreign exchange limit orders to a dedicated execution bank.
Imbalances the major threat
STOCKHOLM – Global imbalances caused by currency intervention are building up and pose a real threat to world economic stability. This was the key message of central bankers at last week’s ACI conference in Stockholm.
McKenzie resurfaces at Lava Trading
NEW YORK – Allan McKenzie has joined US-based vendor Lava Trading as head of EMEA sales for LavaFX in London.
Landesbanks hit by EU ruling on credit ratings
MUNICH – Landesbanks are facing a significant loss of FX business from July, as EU rules will hit their credit ratings.
Bloomberg adds RBS and WestLB
NEW YORK – Royal Bank of Scotland Financial Markets (RBS) has added streaming forex spot trading via Bloomberg Professional Service to its existing e-commerce trading capabilities.
Swedish minister’s euro warning
STOCKHOLM – The Swedish decision to stay out of the euro will lead to vulnerability for the currency and economy, according to Pär Nuder, Swedish minister of finance.
EBS Prime enters Asia-Pacific region
LONDON – Interbank trading platform EBS has extended the EBS Prime service into the Asia-Pacific region, expanding beyond Europe and the US.
Reuters opens to buy-side
LONDON – Reuters has opened its FX trading platform to the buy-side community with the launch of FX trading over its information desktop last week.
Sybase moves into forex
DUBLIN, CALIFORNIA – Software vendor Sybase is to open its risk analytics platform to FX data. The vendor will now process risk and trade data for high-volume FX data feeds.
UK least likely to adopt euro
GLOBAL – Of the European Union members yet to join the euro, the UK is the least likely to join the single currency, according to a survey of FX Week readers.
FX to the fore at settlements conference
SAN FRANCISCO – Settlements industry body ISITC -IOA is to focus on FX for its summer 2005 conference to be held in San Francisco.
RCP to show off STP prowess
LONDON – RCP Consultants will be demonstrating its straight-through processing via its flagship product, Deal Web, launched at the ACI in London last year. This service allows all FX conversations and tickets to be available electronically within a bank…
Refco moves staff from Vienna to London
LONDON – Refco Group, the US brokerage firm, has relocated another three FX traders to London from its Vienna office.
IDEAglobal showcases Kobra
NEW YORK –Research firm IDEAglobal will be showcasing a new Kobra template for its real-time FX research services on Reuters at the congress.
HKMA limits spec trading
HONG KONG – Authorities clamped down on speculative trading on the Hong Kong dollar last week by introducing a ceiling on the currency at HK$7.75 per US dollar.
Forex site launched by London Capital
LONDON – Spread betting firm London Capital Group is to launch a foreign exchange platform following a management buy-out.
Fiftieth anniversary to eclipse previous events
STOCKHOLM – The fiftieth anniversary ACI Congress promises to eclipse the event held in London last year, according to Jan Trädgårdh, chairman of the organising committee.
Citic chooses Sophis
HONG KONG – Citic Capital, the international investment banking arm of China International Trust and Investment Corporation (Citic) Group, has selected Risque as its core platform for risk management and proprietary trading for processing in FX,…