Tech and data
Asia to support global growth
LONDON – Asia holds the key to global growth amid a US slowdown, Marios Maratheftis, FX strategist at Standard Chartered in London told delegates at last week's FX Week Europe Congress.
Citigroup plays catch-up
Citigroup's recent investment in forex technology appears to be paying off, as demonstrated by the bank's resurgence this year
Sovereign Bank live on Sierra platform
PHILADELPHIA – Sovereign Bank is using an FNX Solutions web-based Sierra platform for the its FX operations, the treasury and capital markets technology provider announced last week.
EBS/FXMarketSpace rivalry heats up
LONDON – The standoff between newcomer FXMarketSpace and incumbent platform EBS revved up last week, with EBS claiming the former will favour Chicago-based users.
CFTC fines Florida forex firm
WASHINGTON DC – Florida Federal Court last week ruled against foreign exchange firm G7 Advisory Services, in a $2.1 million fraud action brought by the US Commodity Futures Trading Commission (CFTC).
Slovenia to join eurozone
LJUBLJANA – Slovenia is on course to join the eurozone on January 1, according to a report by the European Commission released last Friday (November 10).
Market is over-bearish on greenback – Legal & General
LONDON – The majority of the market is far too bearish on the dollar, according to UK fund manager Legal and General Investment Management.
CME expands FX options opening hours
CHICAGO – Chicago Mercantile Exchange announced it will offer side-by-side electronic and open outcry trading for the majority of its CME FX futures options from December 18.
RCP rolls out new version of Deal Web
LONDON – Technology vendor RCP Consultants this week releases the latest version of its conversational analysis and deal matching system, RCP Deal Web.
Flextrade beta-tests MilanFX system
NEW YORK – Trading technology vendor Flextrade has started beta-testing its block FX trading platform MilanFX, it told FX Week . The vendor becomes the first to roll out a block trading venue for foreign exchange and employ a dark pool of liquidity.
Currenex develops Fix spin-off
LONDON – Currenex is launching an open standard Fix-based straight-through processing (STP) protocol for FX, money markets and precious metals this week.
CME and SGX renew their mutual agreement
CHICAGO & SINGAPORE – Chicago Mercantile Exchange (CME) and Singapore Exchange (SGX) last Monday (October 30) renewed their mutual offset system (MOS) agreement, which allows clearing of certain products at either CME or SGX.
CFTC proposes measures to improve futures self-regulation
WASHINGTON, DC – The Commodity Futures Trading Commission (CFTC) has proposed measures to improve self-regulation in the futures industry.
Industry gathers for annual FX Week Europe conference
LONDON – Time is running out to book a spot at FX Week Europe , where delegates will have a rare chance to see Icap's Michael Spencer.
Misys signs three top Asian institutions
ASIA-PACIFIC – Misys has expanded its presence in Asia with the signing of three of the continent's largest and most influential institutions. The technology vendor has signed agreements with Chinese banking giant ICBC, the Manila-based Asian Development…
ODL moves into spread betting
LONDON – Broker ODL is to establish an FX spread-betting operation to target UK consumers early next year, the company said.
Custom House opens new Asia-Pacific headquarters
AUCKLAND – Foreign exchange specialist Custom House has opened a new office in New Zealand and made it the regional head office for Asia Pacific.
Fix Protocol upgrades its forex messaging system
NEW YORK – Forex messaging is to be enhanced, with the latest version of Fix Protocol set for launch in November.
Slovakian bank adopts TremaSuite software
BRATISLAVA – The National Bank of Slovakia (NBS) has adopted Wall Street Systems' TremaSuite treasury and asset management software to manage its front, middle and back office banking functions.
Aegis seeks to introduce forex industry standard
NEW YORK – Aegis Software has developed a framework that it is seeking to introduce as an industry standard in tracking workflow for FX and futures trading.
Banks are ignoring Mifid threat, says Celent
BRUSSELS – The forex industry will be beset by law suits and regulatory action if it continues to ignore the Mifid directive coming into force next year, according to a research consultancy.
LatentZero enables hedge funds to use Capstone software
LONDON – Technology vendor LatentZero last week added functionality to enable hedge funds to use its Capstone portfolio analysis software.
Grupo Santander goes live with SuperDerivatives platform
MADRID – Grupo Santander has licensed SuperDerivatives' commodities and energy real-time pricing and analytics platform SD-CM, as it expands its European and Latin American energy and metals derivatives business.