Tech and data
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.
Nordea triples its autoquote limits
COPENHAGEN – Nordea is continuing to develop its e-commerce capabilities, with an almost threefold increase to autoquote limits across all platforms to which it deals.
SuperDerivatives launches derivatives trading platform for hedge funds
LONDON – Technology firm Super-Derivatives has launched an online multi-asset derivatives trading platform, designed for hedge funds.
Erste Bank implements Calypso
VIENNA – Erste Bank has begun implementing a front- to back-office solution from San Francisco-based techno- logy vendor Calypso Technology for interest rates, foreign exchange and credit derivatives.
The risky business of trading
The case for banks entering the retail market with trading platforms of their own seems to be getting stronger.
CLS mulls netting option
NEW YORK - CLS is reviewing the possibility of launching a netting service, as the settlement platform looks to adapt to the changing landscape.
Mifid – a commercial opportunity
The commercial opportunities Mifid presents to the foreign exchange dealer are examined by Chris Pickles, chair of the directive's Joint Working Group in London
Where there's change, there's opportunity
The financial markets are exceptionally good at thinking up new and innovative ways of getting things done when hurdles emerge.
Carry on... with a difference
There are many ways to take advantage of uncorrelated carry trades, says Marios Maratheftis, FX strategist at standard chartered in London
FXall adds benchmark fixings to QuickOMS
LONDON – FXall has added benchmark fixings from Citigroup, HSBC and the Royal Bank of Scotland (RBS) to its order management system, QuickOMS.
Currenex set to move into new asset class
NEW YORK – Trading technology vendor Currenex is going multi-asset class, according to officials at the company in New York.
FXDD launches automated platform
NEW YORK – Online FX trading company FXDD last week launched an automated currency trading platform named FXDDAuto.
Is all well between Cognotec and UBS?
If market rumours are anything to go by, Cognotec could be facing a bit of a bumpy road ahead.
Nordea offers forex trading over ExNet this quarter
COPENHAGEN – Nordea will begin offering executable streaming prices (ESP) for FX to clients over ExNet, a connectivity network from Orc Software, this quarter. ExNet enables trading access to liquidity pools, including exchanges and electronic…
CME, Reuters finalise FXMarketSpace
CHICAGO & LONDON – The Chicago Mercantile Exchange (CME) and Reuters are making final preparations for the launch of their joint-venture platform, FXMarketSpace.
The importance of best execution
The biggest piece of news to come out of last week is the sale of Currenex to State Street for $564 million.
Mifid explained – an introduction
Chris Pickles, chair of the Mifid Joint Working Group in London, discusses the implications of the directive on foreign exchange
BarCap index fund gains traction
LONDON – The Barclays Intelligent Carry Index (ICI) fund has received "substantial interest" two weeks after launch, according to officials at the bank in London.
State Street acquisition of Currenex sends shock waves
BOSTON – US bank State Street's decision to acquire FX trading platform Currenex for $564 million has sent shock waves through the industry.