Tech and data
Extending forex market reach
There is great scope for further integration between FX and interest rate swap markets, says Philip Whitehurst of independent developer MID Analytics in London
Banks still dominate market, report finds
BOSTON – Electronic trading may be expanding, but increased automation is failing to push major dealing banks from a dominant position in the FX market, according to a report released last week.
BarCap adds to Barx platform
LONDON – Barclays Capital has extended its suite of FX algorithmic trading services to include PowerFill Orders over its Barx platform.
Reuters to open up desktops, hailing radical new strategy
LONDON – Reuters is opening up the Dealing 3000 and 3000 Xtra desktops to rival platforms, in what signals a seismic shift in strategy for the electronic broker.
Reuters to open up desktops, hailing radical new strategy
LONDON – Reuters is opening up the Dealing 3000 and 3000 Xtra desktops to rival platforms, in what signals a seismic shift in strategy for the electronic broker.
Clariden centralises forex pricing data
LONDON – Swiss private bank Clariden Leu has rolled out an FX pricing solution to centralise pricing and distribution of FX rates throughout the organisation.
Lehman Brothers expands e-FX capabilities
LONDON – Lehman Brothers is expanding its e-commerce capabilities, as part of the continued expansion of the bank's forex business.
Icap challenges Reuters with i-Forwards platform
GLOBAL – Interdealer broker Icap is taking on rival electronic forward FX broker Reuters, with the global rollout of i-Forwards, its electronic trading platform.
Forex tech spend set to rise 65% in 2010
BOSTON – Expenditure on technologies to support advanced trading strategies for FX trading in North America is expected to rise by around 65% over the next three years, as firms struggle to keep pace with the demands of low-latency trading, according to…
Bank of America joins index bandwagon
NEW YORK – Bank of America (BoA) has launched 73 indexes that track the performance of 30 developed and emerging market currencies against the US dollar.
Banks gear up to pursue forex opportunities in India
MUMBAI – Banks are realigning and expanding FX desks in India, in response to the growing business opportunities in the country.
Saab chooses SuperD to enhance pension funds
STOCKHOLM – Swedish defence contractor Saab is using interest rate derivatives data from SuperDerivatives to enhance the performance of its employee pension funds.
The need for speed in algorithmic trading
LONDON – By 2017, the 10 top banks will manage 80% of all capital markets by revenue, according to Ralph Silva, senior analyst from Tower Group.
Deutsche Bank launches currency index
LONDON – Deutsche Bank last week launched an investable currency index that replicates the carry, momentum and valuation strategies in a non-discretionary rule-based product.
Preparing for a decline in cable
WHAT STRATEGY SHOULD BE ADOPTED AHEAD OF STERLING'S FALL AGAINST THE US DOLLAR? BEN TYLER , ASSOCIATE DIRECTOR, STRUCTURED FX AT LLOYDS TSB CORPORATE MARKETS IN LONDON INVESTIGATES
SmartStream launches TLM Trade Process Management
LONDON & BOSTON – London-based technology vendor SmartStream Technologies last week released a system that automates the transaction lifecycle from execution to settlement.
Reuters develops Mifid data solutions
LONDON – Reuters is developing a series of tools aimed at meeting data requirements under Europe's Markets in Financial Instruments Directive (Mifid).
Quant House hooks up to Hotspot
PARIS – Programme trading system vendor Quant House has built an application programming interface (API) to electronic communications network Hotspot FXi.
Banks gear up to fight online traders
Last week provided some interesting insight into the insecurities some banks are suffering from vis-à-vis online trading companies.
A quick fix for Mifid
Sell-side firms must adopt the FIX protocol or lose out, warns Chris Pickles , chair of the directive's Joint Working Group in London
Bloomberg adds Asian NDIRS to its terminal
SINGAPORE – Bloomberg has added trading in Asian non-deliverable interest rate swaps to its Professional terminal, signalling the continued push by platforms to expand coverage of the region.
FXMarketSpace build-up continues with eight hires
LONDON, NEW YORK & CHICAGO – FXMarketSpace, the Reuters and Chicago Mercantile Exchange (CME) joint-venture platform, has made eight new hires ahead of launch at the end of this quarter.
WestLB plugs into Gissing Software
LONDON – German bank WestLB is using technology from Gissing Software to distribute foreign exchange and money market prices across its offices globally.
Calpers begins trading over LavaFX
SACRAMENTO – The California Public Employees' Retirement System (Calpers) has begun trading over electronic communications network (ECN) LavaFX.