Tech and data
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.
FXall debuts Altair platform
NEW YORK – FXall, the online FX trading portal, has launched Altair, an upgraded version of its service, to expand its offering to a wider range of products and a bigger customer base.
Bayer Group's two-year plan pays off
LEVERKUSEN – As the dollar continues its slide versus all major currencies – it has lost 8% of its value against the euro in the past two months and 9% against the Swiss franc – corporates are struggling to readjust their hedging strategies.
Concerted intervention ruled out
FRANKFURT – Despite increasingly vigorous comments from European politicians arguing in favour of stemming the onward rise of the euro, concerted intervention from Europe and the US is extremely unlikely.
Trading platforms break records
LONDON – FX trading platforms withstood a massive spike in trading on November 5, as record volumes followed the announcement of better-than-expected US jobs data.