Tech and data
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.
CFETS/Reuters launch non-RMB FX portal
SHANGHAI – China Foreign Exchange Trading System (CFETS) began marketing its trading platform that allows trade in eight foreign currency pairs in Shanghai last week.
BarCap enhances eFX platform
LONDON – Barclays Capital (BarCap) has enhanced its eFX trading platform in a bid to offer more accurate pricing and efficient execution for its users.
Historical ticks from Tenfore
LONDON – Tenfore Systems, real-time global market data feeds and applications vendor, has launched its historical tick data service.
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