Tech and data
BBH expands limit order management solution
NEW YORK – Brown Brothers Harriman Foreign Exchange (BBH) has added multiple enhancements to FX OrderView, its electronic limit order management system.
INR – everything is relative
The INR’s over-extended valuation against the Reserve Bank of India’s REER implicit policy anchor continues. This over-extension is looking anomalous against the continued backdrop of Asian FX selling. Claudio Piron, Asian FX strategist at JP Morgan in…
SunGard Data deal goes through
PENNSYLVANIA – SunGard Data Systems is to be acquired by a private equity group for around $11.3 billion.
ACM set to target banks
GENEVA – Advanced Currency Markets (ACM) is to target the institutional market with a new version of its FX trading platform.
Best execution: not just price, but what else?
Process and practice should both be given serious attention before agreement can be reached on best execution in FX. By Chip Lowry (right), MD, Global Link Europe
Bloomberg adds FX service to Toms
NEW YORK – Bloomberg is adding FX position keeping to its Trade Order Management System (Toms).
White-label deal for Saxo/Efutures
WISCONSIN – Efutures.com, an operating division of First Capitol, has launched EZ-FX, a white-labelled version of Saxo Bank’s SaxoTrader, which offers real-time trading execution, information and risk management.
Michael N considers currencies model
MALTA – Malta-based systemic trader, Michael N Trading is considering applying a software trading model used in its T-Bond/Bund program to currencies for future fund launches.
Emerging market opportunities
There are more options in emerging markets than you might think, says Scott Wacker (below), global head, client risk advisory and sales, ABN Amro in London
RBS FiX adds EM currencies
LONDON – The Royal Bank of Scotland (RBS) has added benchmark prices for Estonian kroon, Lithuanian litas and Latvian lats to its e-FX service, RBS FiX.
CME goes live on Reuters
CHICAGO and LONDON – The Chicago Mercantile Exchange (CME) has rolled out CME FX on the Reuters Dealing 3000 platform.
Volumes up on trading platforms
LONDON – Trading platforms have seen a strong start to the year, with substantial increases in volumes.
CoesFX launches Asian branch
PLAINVIEW – Electronic FX trading network, CoesFX is expanding into the Chinese market with the launch of CoesFX Asia.
Saxo upgrades trade tool
COPENHAGEN – Saxo Bank is working on an upgraded version of its SaxoTrader online trading tool. The product will soon be in alpha testing and is expected to go into production in mid June, following a period of testing with partners and customers.
Asia shies away from dollar bloc
Basel – Asian currencies are not trading as a dollar bloc, said the Bank for International Settlements (BIS) in its quarterly review last week.
EBS opens to investor community
LONDON – EBS is launching its buy-side offering this week following a successful pilot with nine banks that has been running since November.
Buy-side access to hit banks
NEW YORK & LONDON – The race to arm buy-side players with direct trading access to sell-side foreign exchange platforms will hit bank FX desks, said market players.
RBC in latest rogue trade scandal
LONDON – Royal Bank of Canada (RBC) is understood to have suspended three staff following an unlawful trade on the New Zealand dollar.
Avecia uses RBSFiX for huge deal
MANCHESTER – Avecia, a UK-based speciality chemicals company, has transacted a €495 million foreign exchange deal over the RBS FiX electronic trading system provided by the Royal Bank of Scotland (RBS).
A broader view than the yuan
While much attention is focused on a likely shift in the value of China’s currency, Ashish Advani (right), director of risk solutions at Travelex in Toronto, points to a way of hedging against the more imminent risk of free-floating Asian currency…