Tech and data
BP prepared for IAS 39
LONDON – British Petroleum (BP) became the first European-based corporate client to go live with Wall Street Systems’ (WSS) Hedge Compliance Module to aid it in its compliance process following the introduction of the IAS 39 accounting standard.
The greenback/HK dollar digital deposit
Hong Kong dollar interest rates remain suppressed. Michael Image, FX structurer for Northeast Asia at Standard Chartered shows a way for HK$ depositors to achieve higher interest rates by taking advantage of the fact that US$/HK$ forwards are trading at…
UBS win prestigious forex derivatives award
LONDON – UBS won a leading industry award as the best forex derivatives house of 2004 for its cutting edge business development work.
Man Financial posts strong forex results Reuters to report revenue rise
LONDON – Reuters’ share price rose by 4.8% on the London Stock Exchange on January 13, from £3.8175 to £4, and hovered at that level by close, following a statement by the vendor on its Q1 performance.
BMO launches new FX trading system
MONTREAL – Bank of Montreal (BMO) Nesbitt Burns has launched eFXpedite, a new online trading system that enables the real-time electronic transaction of FX for a wide range of its corporate and institutional clients.
Further boost for Asian forex volumes
HONG KONG – Asia’s forex markets will continue to see strong activity this year as more participants pile into the asset class.
Brokers criticise UBS futures trading deal with Bloomberg
LONDON – A deal agreed between Bloomberg and UBS on global futures trading has led to unfair competition, some leading brokers are claiming.
Exporters resilient to strong Aussie dollar
SYDNEY – Australia's commodity exporters have remained resilient despite the strong Australian dollar, amid record high commodity prices and strong demand, say analysts.
JP Morgan pushes e-FX in Japan
TOKYO – JP Morgan Chase has made changes to its management team and plans to make hires in a bid to bring greater awareness of its electronic FX platform in Japan.
Lehman gets FX derivatives licence in S Korea
SEOUL – Lehman Brothers is expecting to get a boost to its FX business now that it has become the only foreign bank in Korea to offer a full suite of over-the-counter derivatives products onshore.
Review of 2004 - September: Reuters widens FX access
LONDON – Reuters announced that fund managers, corporates and mid-tier banks would soon get access to the firm’s interbank FX rates for the first time. The firm announced it would take spot dealing prices from its Matching service, used by 7,000 users at…
Banks' 'indifference' to IAS 39 hints at software panic-buying
LONDON -- Software vendors are preparing to take advantage of any bank glitches once the IAS 39 accounting standard is implemented on January 1.
Icap deploys Kalahari for Mexican IR and forex trade
NEW YORK – Inter-dealer broker Icap is deploying a customised version of a Mexican interbank forex pricing application from software provider Kalahari.
Bloomberg offers free EBS
NEW YORK – EBS Trader is to be offered through Bloomberg terminals free of charge as the information and market data vendor tries again to make serious inroads into the forex market.
GL Trade acquires Ubitrade
LONDON -- GL Trade, the France-based vendor of trading systems, recently announced the acquisition of Ubitrade, a specialist in derivatives processing.
Calypso looks to crack Asia
TOKYO -- Technology vendor Calypso has hired extra staff in Japan as it aims to get a foothold on the Asian market.
Euro role grows, says ECB
The euro is increasingly being used as an international currency and its place in the global markets is becoming ever more important, a European Central Bank (ECB) official told delegates at the FX Week congress in London last week.
CNY Barometer to monitor pressure against the yuan
HONG KONG – Standard Chartered last week launched a barometer to measure pressures on the Chinese currency.