News
RBS builds e-commerce presence
NEW YORK & HONG KONG – Royal Bank of Scotland (RBS) is looking to expand its e-commerce presence around the globe with hires of sales staff in different continents.
EBS opens in Korea
SEOUL – EBS , provider of electronic trading and market data solutions, has opened in Korea as an offshore broker for non-South Korean won pairs.
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.