Tech and data
FXDD launches 'PowerTrader'
NEW YORK – Online trading provider FXDirectDealer (FXDD) has launched an institutional forex trading platform.
eSpeed takes TradeSTP from Logiscope
LONDON – eSpeed is using Logicscope's TradeSTP deal notification software to ease post-transaction trade processing for a number of its FX clients, according to FX market sources. Logicscope officials declined to comment.
EBS joins algorithmic bandwagon
LONDON – FX trading platform EBS is to enable algorithmic trading over its platform as it enhances capabilities to expand the range of services available to the buy side.
Hedging North Asia FX risk
Michael Image, FX structurer in Hong Kong, and Callum Henderson, head of FX strategy in Singapore, at Standard Chartered Bank, look at appropriate hedging strategies such as structured forwards or daily accrual forwards for hedging North Asian currency…
Reuters consolidates Knowledge platform
New York – Reuters is introducing a new version of its Knowledge research and fundamental analysis product, which will replace the previous Reuters and Multex incarnations of Knowledge with a single platform.
London blasts hit e-trading
LONDON – Last Thursday’s terrorist attacks in London caused widespread disruption to electronic trading, with spreads widening considerably and at least one bank not delivering prices to a portal.
Netpicks Forex and CoesFx in partnership for FX trade
PLAINVIEW, NEW YORK – CoesFx, the New York-based FX electronic currency network (ECN) has formed a partnership with NetPicks Forex, the online day-trading service.
Algorithmic trading: the new FX frontier
NEW YORK – Algorithmic trading is set to become the new frontier of foreign exchange trading, according to market analysts.
Predicting the unexpected
Extreme value theory is an effective way of predicting the large moves frequently seen in currency markets, says Collin Crownover, global head, investor risk advisory group at Citigroup in New York
CFTC cracks down on scams
WASHINGTON, DC – US authorities have uncovered a forex scam worth more than $17 million involving nearly 1,000 customers.
CoesFx adds 10 new pairs
PLAINVIEW, NY – Electronic currency network, CoesFx, has added 10 new currency pairs, almost doubling the number of currencies available to its retail and institutional clients.
MetaQuotes releases MetaTrader 4 for FX
KAZAN – MetaQuotes Software will be releasing a new version of its forex trading system, MetaTrader 4, on July 1.
First Eonia swap index fixed
PARIS - The first fixing of the Eonia (euro overnight index average) swap index, took place on June 20 at 4.30pm CET.
Strong start for Chinese interbank trading platform
SHANGHAI – Volumes traded on China's interbank FX trading system (Cfets) have grown steadily since its launch in mid-May, say dealers.
New fund from ABN Amro
LONDON – ABN Amro has begun marketing a new currency fund made up of 10 underlying managed accounts, providing a diversified portfolio of currency management styles.
Finevo Markets takes FNX
NEW YORK – Manhattan-based broker-dealer Finevo Markets Group is employing FNX's ASP solution as its core platform for straight-through processing and processing of foreign exchange transactions.
Saxo Bank founders cash in
COPENHAGEN – Founders of Saxo Bank Lars Seier Christensen and Kim Fournais stand to pocket more than $30 million each following the sale of 25% of the business to a private equity firm.
WestLB using Cognotec to link to 360T
NEW YORK – Cognotec, the Dublin-based technology vendor, has selected WestLB, a partner bank, to deliver live automated market-making to multi-asset trading platform 360T.
Multi-hurdle barrier options
Remy Marino, head of structuring, interest rates, currencies and commodities at Calyon in New York, discusses how investors or hedgers can optimise the cost of their barrier strategies by utilising a multi-hurdle barrier option
More EM currencies for RBS FiX
LONDON – Royal Bank of Scotland (RBS) has made a further upgrade to its online FX service, RBS FiX, with the addition of forward benchmark prices for 12 emerging markets currencies.