Tech and data
Interbank FX trading takes off in China
SHANGHAI – China Foreign Exchange Trading System (CFETS) opened its interbank FX trading business last week, leading to speculation that a shift in currency policy may be imminent.
HSBC embarks on radical tech revamp
LONDON – HSBC is radically overhauling its trading technology infrastructure to create a truly cross-asset class messaging platform to support its electronic trading operations globally.
eSpeed’s FX platform gets a makeover
NEW YORK – Electronic broker eSpeed is rolling out an improved forex trading platform to all its users over the next two months.
Chinese whispers cause confusion
BEIJING – Currency markets were thrown into disarray last Wednesday following an inaccurate news report by a Communist-party-backed news agency claiming China would allow the yuan to appreciate.
Marketmaker launches in HK
HONG KONG – Online forex service provider CMC Group has moved into Hong Kong with the roll-out of its internet-based Marketmaker platform.
Hotspot using TradeSTP
LONDON – Hotspot FXi, the multi-bank FX market operator, is set to use data distribution products vendor LogicScope Realisations’ TradeSTP deal notification software, say sources.
Profiting from a renminbi revaluation
Adam Cole, senior currency strategist at Royal Bank of Canada in London, looks for options strategies to play a China revaluation within a G-10 FX portfolio
COESfx adds real-time FX data
PLAINVIEW, NEW YORK – Electronic currency network (ECN) COESfx has launched a new service, providing real-time streaming forex data directly to currency traders’ desktops.
COESfx teams up with AbleSys
PLAINVIEW, NEW YORK – Electronic currency network COESfx has formed an alliance with technology vendor AbleSys Corporation (ASC), giving FX traders access to trading signals to help improve their decision-making.
CME updates free FX tool
CHICAGO – The Chicago Mercantile Exchange (CME) is adding extra data to its web-based CME Equivalents platform, in a bid to attract more mainstream users.
US banks' FX profits surge
NEW YORK – US banks have benefited from the recent recovery in the greenback, with profits up in the first quarter.
Alstom picks FXpress
PARIS – Alstom, the Parisian technology vendor, has gone live with risk management software provider FXpress's First treasury workstation.
RBS launches online FX trading service
EDINBURGH – The Royal Bank of Scotland has launched Trade, an online trading service for forex, money markets and global treasury funds.
GFI expands Fenics with bank volatilities
NEW YORK – Interdealer broker GFI is expanding the coverage of its Fenics pricing and risk tool to include volatility surfaces – the methods by which options are priced – from bank clients.
Hotspot FXi opens in Beijing
BEIJING – Electronic trading marketplace Hotspot FXi has opened an office in Beijing to support its activities in mainland China, Hong Kong and Taiwan.
RTS revamps core platform
MOSCOW – RTS Stock Exchange is revamping its core technologies to accommodate new trading strategies.
Glitch forces Globex trading halt
CHICAGO – The Chicago Mercantile Exchange was forced to suspend trading of eurodollar futures on its Globex trading platform for two hours last Thursday, April 14, after users experienced problems accessing the eurodollar electronic matching engine.
Mixed reaction to EBS Prime initiative
LONDON – Interbank trading platform EBS' foray into the investor community is being taken up with varying degrees of enthusiasm by member banks.
MAS maintains forex policy
SINGAPORE – The Monetary Authority of Singapore (MAS) maintained its policy of a modest and gradual appreciation of the Singapore dollar nominal effective exchange rate, last week.