Tech and data
Morroccan bank BCP signs up to FenicsFX
CASABLANCA - Casablanca-based La Banque Centrale Populaire (BCP) is implementing foreign exchange options pricing and risk management system FenicsFX this month, in a bid to maintain its position in an increasingly "sophisticated" market, the bank said.
Choosing the right carry strategy
Nikki Marmery reports on the proliferation of carry trade indexes and outlines the key differences between the main banks' offerings
Nordea signs up with SuperD
COPENHAGEN - Nordea will use data and software vendor SuperDerivatives' market data feed to ensure price transparency, and assist with accounting and regulatory compliance.
EM indexes stand strong
LONDON & NEW YORK - Indexes linked to emerging market currencies have withstood market shocks, as products launched in the past year show steady returns.
Nothing beats a good trading scandal
The past week has produced a frenzy of headlines, from the FTSE index hitting seven-year lows and the Federal Reserve's surprise 75 basis point rate cut, to the billions of dollars in writedowns at major dealers. But nothing grabs the attention as much…
Icap speeds up price info on EBS
LONDON - Interdealer broker Icap has cut latency on spot-broking system EBS Spot and market data service EBS Live, according to a letter to EBS Prime bank customers seen by FX Week .
Seeking a sterling collapse
By Pete Luxton, global markets adviser, and Dave Willmer, foreign exchange options market strategist, at Informa Global Markets in London
FX adds shine to banks' Q4 results
BOSTON & NEW YORK - State Street's acquisition of Currenex led the US bank to a strong 2007 fourth-quarter performance, despite the year's subprime woes.
CLS product expansion welcomed
CLS's announcement last week that it has begun settling credit derivatives trades demonstrates the industry utility's efforts to reduce the unit cost and total bill for settling forex trades over the system.
Rand Merchant Bank to roll out e-trading
JOHANNESBURG - Rand Merchant Bank (RMB), a division of FirstRand Bank, plans to go live with a multi-asset class electronic trading platform by Q3.
Dah Sing Bank deploys Fenics FX
HONG KONG - Dah Sing Bank has begun using foreign exchange options pricing and risk management system Fenics FX, developed by interdealer broker GFI, at its Hong Kong-based treasury department.
Swedbank goes live with e-FX price stream
STOCKHOLM - Swedbank plans to offer streaming foreign exchange rates over its proprietary platform and multi-bank platform, FXall, by the end of this month.
Algorithmic trading comes of age
Last summer's resurgence in market volatility highlighted the role of algorithmic trading in maintaining the active flow of electronic liquidity.
There's nothing as certain as change
Happy New Year! As we enter 2008, one thing is for certain - the evolution of the foreign exchange industry continues at an unprecedented rate.
Forex results strong in Q4
NEW YORK - Goldman Sachs and Morgan Stanley reported strong results for foreign exchange in the fourth quarter of 2007, despite challenging market conditions.
Goldman Sachs launches FX algos
LONDON - Goldman Sachs plans to debut foreign exchange trading algorithms in the first half of 2008, as part of a strategy to gain market share.
Banks brace for algo trading boom in 2008
As the industry continues to digest the credit market's meltdown, foreign exchange trading volumes continue to boom. Representatives of the major FX banks, Credit Suisse, HSBC and Saxo Bank, discuss the main technology trends in e-FX trading to watch in…
Hotspot FXi revamp means faster trades
JERSEY CITY, NJ - Electronic communications network (ECN) Hotspot FXi plans to implement a multiple-server matching engine architecture to replace its single matching engine in January 2008, to improve the platform's performance.
VAR exceptions rise in third quarter
NEW YORK & ZURICH - Volatility in financial markets led investment banks to far exceed thresholds for trading losses in the third quarter, casting doubt on their risk modelling.
New Swift solution aims for better processing
NEW YORK - Bloomberg is teaming up with industry messaging co-operative Swift to tackle the division between the front, middle and back offices when processing foreign exchange trades.
StanChart introduces electronic NDF trading
LONDON - Standard Chartered began offering electronic trading in emerging market non-deliverable forwards (NDFs) over proprietary electronic platform Straight2Bank Web and through multi-bank platform FXall on November 13.
FX algos no longer just for big players
LONDON - Gaining an edge in foreign exchange execution through trading algorithms is no longer the domain of just the largest forex dealers, according to a panel at the FX Week Europe congress last week.
Apama users given more algo options
Trading technology vendor Progress Software has integrated the Progress Apama algorithmic trading platform into electonic communications network Accelor.