Tech and data
Reserve managers avoid Bric currencies despite increase in risk appetite
Central banks look to diversify reserves in search of higher yield, but still consider emerging market currencies too risky
Defining innovation in e-FX
As the 2013 e-FX Awards open for entry, the parameters of innovation in FX technology continue to evolve in line with changes in the market environment
Market divided over standardised approach to algo TCA
The difficulty of comparing transaction cost analysis results across algo products has led to calls for a standardised approach to TCA, but not all agree it is needed
CFTC rules on mid-market disclosure put banks under pressure
With just six weeks to go until the deadline for banks to disclose the mid-market price on certain FX trades, banks face considerable technology hurdles to comply
Nalm 2013: Debate rages over how to manage expanding reserves
Central banks enter into new asset classes and alternative currencies but Bank of Israel’s Andrew Abir rejects value of renminbi as a reserve currency
Central banks grapple with risks arising from FX reserves
Holdings of foreign exchange reserves at central banks has increased since the crisis, and market participants believe diversification into new currencies could now pick up
Barclays launches client aggregator in response to fragmentation
Gator smart order routing tool has been tested internally by Barclays spot traders for more than a year, and is now being rolled out to clients
The advantages of algo execution
As both Barclays and UBS prepare to launch new algo execution tools for foreign exchange in the coming weeks, the space is becoming increasingly crowded – but it appears to be driven by strong demand from the buy side. Miriam Siers reports
Mifid transparency rules must be properly calibrated, warns ECB board member
Central banks will have to deal with liquidity shocks in financial markets, so must ensure post-trade transparency rules are well calibrated, says Peter Praet
DTCC powers ahead with FX trade repository
Dealers are on-track to meet a February 28 deadline to report FX trades to a repository, a DTCC official said earlier today
SuperDerivatives to launch low-cost market data platform
DGX is aimed initially at corporates, private banks and investors, and will provide low-cost market data across all asset classes
Has last look had its day in FX?
Last look remains a divisive issue in the foreign exchange market, but some platform providers believe it has had its day and is no longer necessary for banks
High-frequency trading: managing the nuclear power supply
New York-based AienTech likens HFT to nuclear power that can be used for both positive and negative purposes, and chief executive Ugur Arslan is preparing to distribute his technology to the broader market in 2013
Bloomberg launches CNY market data service through Cfets
New service provides live interbank rates on USD/CNY and eight other renminbi pairs, priced from 26 participating banks
MarkitServ and Traiana prep pre-trade credit hubs
Post-trade technology providers are vying to build a pre-trade hub that will provide certainty of execution and clearing under new regulation, to be rolled out for rates, credit and FX within months
Forex TCA heads into pre-trade sphere
Banks are increasingly offering pre-trade transaction cost analysis in an effort to help their clients better understand how to ensure best execution prior to committing to the trade. Kathy Alys reports
Local trade repositories are necessary, says senior HKMA official
The benefits of local trade repositories outweigh the possible disadvantages of multiple reporting requirements, says executive director of HKMA’s financial infrastructure unit
UBS readies regulation-focused FX algos
The Swiss bank will launch its first algorithmic FX trading tools early next year with smart order routing to help clients navigate regulatory change
HSBC launches algo carry index
The Global FX Carry Index, launched by HSBC yesterday, considers 32 currencies for investment, including G-10 and emerging markets
Training traders
What role does emotion play in the decision-making process of traders, and can they be trained to better manage their emotions? Saxo Bank believes they can, and is developing a process to support that training. Robert Mackenzie Smith reports
Technology key for Saxo at 20
Saxo Bank celebrated its 20th birthday last month by flying its staff out to Egypt for a celebration in front of the Pyramids, hosted by co-founders Kim Fournais and Lars Seier Christensen. Robert Mackenzie Smith meets them in Copenhagen
FXSpotStream adds Morgan Stanley as liquidity provider
The US bank becomes the seventh liquidity provider on FXSpotStream, which is now live and trading after it was first announced in May
Trade reporting pressure increases as CFTC deadlines loom
DTCC data repository has received provisional CFTC approval, just three weeks ahead of mandatory reporting for credit and rates, with FX reporting due to begin in January
Caplin unveils new development environment for bank platforms
Caplin Systems is launching a new development environment based on HTML5, which it believes will allow banks to build more effective single-dealer platforms